CALGARY, Alberta, Oct. 16, 2018 (GLOBE NEWSWIRE) -- This press release is being disseminated as required by National Instrument 62-103 - The Early Warning System and Related Take Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated October 16, 2018 regarding the acquisition of common shares of Standard Exploration Ltd. (TSXV:SDE) 1404 Memorial Drive N.W., Calgary, Alberta  T2N 3E5 ("Standard") by Robert Hosie ("Hosie") and the Joint Actor (as defined below).

On October 16, 2018, Hosie acquired 50,000 common shares of Standard through the facilities of the TSXV (the “Acquisition”). Prior to the Acquisition, Hosie held 6,100,000 common shares of Standard, representing 5.03% of the issued and outstanding common shares of Standard and Ronald Peshke (the “Joint Actor”) held 6,000,000 common shares of Standard, representing 4.95% of the issued and outstanding common shares of Standard.  Therefore, prior to the Acquisition, Hosie and the Joint Actor together held an aggregate of 12,100,000 common shares of Standard, representing 9.98% of the issued and outstanding common shares of Standard.

As a result of the Acquisition, Hosie and the Joint Actor own and control of an aggregate of 12,150,000 common shares of Standard, representing 10.02% of the issued and outstanding common shares of Standard, of which 6,150,000 common shares of Standard are owned by Hosie (representing 5.07% of the issued and outstanding common shares of Standard) and 6,000,000 common shares of Standard are owned by the Joint Actor (representing 4.95% of the issued and outstanding common shares of Standard).

The Acquisition had the effect of increasing common shares in Standard held by Hosie by 0.82% and increasing the total common shares in Standard held by Hosie and the Joint Actor by 0.41%.

Hosie paid $0.015 per common share of Standard under the Acquisition. The total consideration paid by Hosie under the Acquisition was $750.00.

The common shares of Standard acquired by Hosie and the Joint Actor were acquired for investment purposes and for the purpose of increasing their voting position to possibly facilitate: i) changing the members of the board of directors and senior management of Standard, including filling an existing vacancy on the board, ii) asking Standard’s board of directors to implement a formal strategic review process, and, iii) considering a solicitation of proxies from shareholders (collectively, “Purpose”).  Hosie and the Joint Actor reserve the right to change the Purpose in the future depending upon market conditions, the business and prospects of Standard, and other relevant factors.

In accordance with applicable securities laws, Hosie or the Joint Actor may, from time to time and at any time, acquire additional common shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of Standard in the open market or otherwise, and reserve the right to dispose of any or all of their Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Standard and other relevant factors.

A copy of the early warning report with respect to the Acquisition may be found on www.sedar.com under the profile of Standard Exploration Ltd. To request a copy of the report, please contact Robert Hosie at 587-585-0061 ([email protected]) or Ronald Peshke at 403-852-3403 ([email protected]).

Contact Information:
Robert Hosie
587-585-0061
[email protected]