/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES/
CAMARILLO, CA, Oct. 20, 2016 /CNW/ - BNK Petroleum Inc. (the
"Company") (TSX: BKX) is pleased to announce that, in connection with its previously announced short form prospectus
offering of common shares of the Company (the "Shares"), on a "commercially reasonable efforts" basis, at a price of C$0.20 per Share (the "Offering"), the Company has agreed with GMP FirstEnergy, as co-lead agent on behalf of a
syndicate including Haywood Securities Inc., as co-lead agent, and Macquarie Capital Markets Canada Ltd. (collectively, the
"Agents"), to increase the amount of the Offering from up to 55,000,000 Shares to up to 70,000,000 Shares for aggregate gross
proceeds of up to C$14,000,000.
About BNK Petroleum Inc.
BNK Petroleum Inc. is an international oil and gas exploration and production company focused on finding and exploiting
large, predominately unconventional oil and gas resource plays. Through various affiliates and subsidiaries, the Company owns and
operates shale oil and gas properties and concessions in the United States. Additionally the
Company is utilizing its technical and operational expertise to identify and acquire additional unconventional projects. The
Company's shares are traded on the Toronto Stock Exchange under the stock symbol BKX.
Caution Regarding Forward-Looking Information
This release contains forward-looking information including statements regarding the Offering and the use of proceeds
therefrom and the timing thereof. The use of any of the words "target", "plans", "anticipate", "continue", "estimate", "expect",
"may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements.
Such forward-looking information is based on management's expectations and assumptions, including that the Company will obtain the
necessary regulatory approvals, including the approval of the Toronto Stock Exchange, and the other conditions to closing the
Offering will be satisfied. Forward-looking information involves significant known and unknown risks and uncertainties, which
could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: any of the
assumptions on which such forward-looking information is based vary or prove to be invalid, including that the Company will be
unable to obtain the necessary regulatory approvals, including the approval of the Toronto Stock Exchange, and the other conditions
to closing the Offering will not be satisfied in a timely manner or at all, and the other risks identified in the Company's most
recent Annual Information Form under the "Risk Factors" section, the Company's most recent management's discussion and
analysis and the Company's other public disclosure, available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to take into account
important factors that could cause actual costs or results to differ materially, there may be other factors that cause actual
results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate
as actual results and future events could differ materially from those anticipated in such statements. The forward-looking
information included in this release is expressly qualified in its entirety by this cautionary statement. Accordingly, readers
should not place undue reliance on forward-looking information. The Company undertakes no obligation to update these
forward-looking statements, other than as required by applicable law.
THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE
UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR
SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT
AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.
SOURCE BNK Petroleum Inc.
