Toscana Energy Income Corp Closes Asset Acquisition

Toscana Energy Income Corp announced that it has closed the previously announced acquisition of light oil assets that produce approximately 200 barrels of oil per day (the Assets). The Assets are located in northwestern Alberta. The aggregate purchase price for the Assets was $12.0 million which was satisfied by paying cash consideration of $11.5 million and issuing an aggregate of 31,250 common shares in the capital of the Company, such common shares being subject to a statutory hold period of four months plus one day from the date of issuance.