Renaissance closes private placement

On March 29, 2017, Renaissance Oil Corp. ("Renaissance") announced the first closing of its previously announced brokered private placement pursuant to an agency agreement dated March 29, 2017 with Haywood Securities Inc., as the lead agent, Beacon Securities Limited and Canaccord Genuity Corp. for 44,870,000 units (including 4,870,000 units issued upon exercise of the agents' option to sell up to an additional 20,000,000 units at the same price per unit as the offering), at a price of C$0.25 per unit, for aggregate gross proceeds of approximately C$11.2 million. Each unit under the offering consists of one common share of the company and one common share purchase warrant, entitling the holder to acquire one common share of Renaissance at an exercise price of C$0.50 until July 31, 2019.

Renaissance announced that it closed the second and final tranche of the offering on April 12, 2017 in which it issued, upon exercise of the agents' option, an additional 5,400,000 units, at a price of C$0.25 per unit, for aggregate gross proceeds of C$1.35 million, which combined with the closing of the first tranche private placement on March 29, 2017, amounts to aggregate gross proceeds of approximately C$12.6 million.

The net proceeds of the offering will be used to aid in Renaissance's ongoing efforts in securing oil and gas rights in Mexico, to fund capital expenditures and for general corporate purposes.

Renaissance Oil is developing a high quality, diversified shale and mature fields portfolio for development in Mexico.

Further information can be found on Canada Newswire's website: first closing and second (final) closing.