Press Release: Dalmac Energy : Dalmac Energy Inc. Financing Arrangement, Asset Sale and Asset Purchase

EDMONTON, Alberta, April 29, 2019 (GLOBE NEWSWIRE) -- Dalmac Energy Inc. ("Dalmac") (TSX Venture "DAL") wishes to announce that on April 29, 2019, Dalmac entered into an agreement to sell its Fox Creek Tank Farm (the "Tank Farm") to 1175317 Alberta Ltd. (the "Purchaser"), a corporation wholly owned by Mr. John Babic, a director and President and CEO of Dalmac, for an aggregate purchase price of $380,000 cash (the "Sale"). The Tank Farm represents approximately 1% of Dalmac's total assets and the purchase price for the asset was determined following the receipt by Dalmac of an independent appraisal. Also on April 29, 2019, the Purchaser agreed to provide a shareholder loan from the Purchaser in the amount of $420,000 (the "Shareholder Loan"). The Shareholder Loan will be non-interest bearing, unsecured and assigned and postponed to Dalmac's existing credit facility (the "Credit Facility") with its primary lender, Servus Credit Union Ltd. (the "Lender").