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Esrey Executes Definitive Agreement


FOR: ESREY ENERGY LTD.
TSX VENTURE SYMBOL: EEL

Date issue: May 15, 2017
Time in: 2:01 PM e

Attention:

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 15, 2017) - Further to its news release of May 1, 2017 (the "May 1 Release"), Esrey Energy Ltd. ("Esrey" or the "Company") (TSX VENTURE:EEL) is pleased to announce that both Esrey and PRG Plc ("PRG") have completed a satisfactory due diligence review of the other and have entered into a definitive agreement providing for the acquisition by Esrey of the shares of Power Zinc Limited from PRG (the "Acquisition"), on substantially the terms of the LOI as detailed in the May 1 Release.

In connection with the Acquisition, the Company has agreed to grant 4,183,000 options to designates of PRG and Company participants on closing of the Acquisition, to be priced in accordance with the policies of the TSX Venture Exchange.

Closing of the Acquisition remains subject to the acceptance of the TSX Venture Exchange and trading in the shares of the Company will remain halted pending satisfaction of the requirements of section 5.6(d) of the TSX Venture Exchange Policy 5.3.

On behalf of the Board of Directors

David Nelson, President & CEO

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.

- END RELEASE - 15/05/2017

For further information:
Investor Relations
1-778-373-0103
info@esreyenergy.com

COMPANY:
FOR: ESREY ENERGY LTD.
TSX VENTURE SYMBOL: EEL

INDUSTRY: Energy and Utilities - Oil and Gas
RELEASE ID: 20170515CC0074

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization issuing the release, not to The Canadian Press.



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