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Canadian Spirit Resources Inc. Announces Amendment to Closing of Equity Rights Offering

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

CALGARY, Alberta, Jan. 08, 2019 (GLOBE NEWSWIRE) -- Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSXV:SPI) (OTCBB:CSPUF) is announcing that amendments have been made to the closing, effective December 3, 2018, of its rights offering equity financing (the "Rights Offering").  CSRI previously reported that the Rights Offering was over-subscribed and that the standby purchaser, Elmag Investments Inc. ("Elmag"), was not required to purchase any additional common shares.  Subsequent to closing, a securities dealer advised that it had made a mistake and subscribed for 6,047,975 common shares not requested by its clients.  The common shares were returned by the dealer to Computershare and purchased by Elmag under its standby commitment. The total number of common shares purchased by insiders increased to 16,042,636 with Elmag purchasing 14,349,502.

CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional natural gas sector of the energy industry.

Information regarding CSRI is available on SEDAR at www.sedar.com or the Corporation's website at www.csri.ca.

On behalf of the Board of Directors
CANADIAN SPIRIT RESOURCES INC.

"Richard Couillard"

President and Chief Executive Officer

For further information, please contact:
Canadian Spirit Resources Inc.
Telephone (403) 539-5005
Richard Couillard (rich.couillard@csri.ca

NEITHER THE 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 NEWS RELEASE

THE SECURITIES OFFERED HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS. THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.

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