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Solimar Announces Closing of Private Placement

CALGARY, ALBERTA -- (Marketwired) -- 05/10/14 -- Solimar Energy Limited ("Solimar" or the "Company") (TSX VENTURE:SXS)(ASX:SXS) is pleased to announce that it has completed a non-brokered private placement offering and issued a total of 5,578,462 units for gross proceeds of $362,600. Each unit was comprised of one (1) ordinary share of Solimar ("Share") and one half of one (0.5) right. Each right was deemed to have been immediately exchanged, without payment of additional consideration or further action on the part of the holder, for one (1) warrant. Each warrant entitles the holder to purchase one (1) Share at an exercise price of $0.065 for a 24 month period following closing.

Securities issued are subject to a four-month hold period, expiring September 10, 2014, in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Reader Advisory: Forward-looking statements

This news release contains forward-looking information relating to the private placement, planned development and exploration activities on the properties in which the Company has interests, and other statements that are not historical facts. Such forward-looking information is subject to important risks, uncertainties and assumptions. The results or events predicated in this forward-looking information may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on this forward-looking information.

Forward-looking information is based on certain factors and assumptions. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks associated with the private placement, risks associated with instability of the economic environments in which the Company operates or owns interests, oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays, including risks relating to the acquisition of necessary licenses and permits, environmental risks and insurance risks.

You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, the Company is under no obligation and does not undertake to update this information at any particular time, except as required by law.

ABN 42 112 256 649

Contacts:
Solimar Energy Limited
Jason Bednar
Director
+1 805 643 4100 or (03) 9347 2409
www.solimarenergy.com.au

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