Canada NewsWire
CALGARY, Aug. 2, 2018
CALGARY, Aug. 2, 2018 /CNW/ - Paramount Resources Ltd.
("Paramount") announces that it acquired today ownership and control of 41,390,909 common shares ("CPRI Shares") of Claim Post
Resources Inc. ("CPRI") (TSX-V: CPS) at a price of $0.10 per share in connection with a private
placement by CPRI over the facilities of the TSX Venture Exchange of 130,000,000 common shares of CPRI for gross proceeds of
$13 million. Paramount owns and controls approximately 13.1% of the outstanding CPRI Shares
following the placement and did not own or control any CPRI Shares before the placement. In connection with CPRI's private
placement, Rodrigo Sousa, an officer of Paramount, was appointed to CPRI's board of
directors.
Paramount acquired the CPRI Shares solely for investment purposes and may in the future increase or decrease its security
holdings in CPRI depending on market conditions or other relevant factors.
CPRI is a Canadian silica resource development and production company and a reporting issuer in Ontario, Alberta and British Columbia, and
its shares trade on the TSX Venture Exchange under the symbol "CPS". It is currently developing a Tier 1 frac sand deposit in
Seymourville, Manitoba. CPRI's head office is in Toronto,
Ontario.
This news release is being issued pursuant to securities legislation in each province of Canada and will be filed on the System for Electronic Document Analysis and Retrieval with the report
required under National Instrument 62-103 under CPRI's profile.
ABOUT PARAMOUNT
Paramount is an independent, publicly traded, liquids-focused Canadian energy company that explores for and develops both
conventional and unconventional petroleum and natural gas resources, including long-term strategic exploration and
pre-development projects, and holds a portfolio of investments in other entities. Paramount's principal properties are located in
Alberta and British Columbia. Paramount's Class A common shares
are listed on the Toronto Stock Exchange under the symbol "POU".
SOURCE Paramount Resources Ltd.
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