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Acquisition of Shares of Kiwetinohk Energy Corp. by Luminus Energy IE Designated Activity Company

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CALGARY, AB, Sept. 22, 2021 /CNW/ - This press release is provided pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103") in connection with the filing of an Early Warning Report regarding the acquisition by Luminus Energy IE Designated Activity Company ("Luminus") of common shares ("KEC Shares") of Kiwetinohk Energy Corp. ("KEC") in connection with the statutory plan of arrangement (the "Arrangement") under section 192 of the Canada Business Corporations Act involving Kiwetinohk Resources Corp. ("KRC"), Distinction Energy Corp. ("Distinction"), and the shareholders of Distinction.

On September 22, 2021, upon completion of the Arrangement, Luminus, of Rocktwist House, Block 1, Western Business Park, Shannon, Co. Clare V14 FW97, Ireland, acquired an aggregate of 5,202,334 KEC Shares from the treasury of KEC pursuant to the Arrangement, representing approximately 11.9% of the then issued and outstanding KEC Shares (on an undiluted basis).

Immediately prior to the implementation of the Arrangement, Luminus owned 2,601,167 class A common shares in the capital of Distinction ("Distinction Shares"), representing approximately 26.09% of the then issued and outstanding Distinction Shares. In connection with the Arrangement, all of the Distinction Shares held by Luminus were cancelled in exchange for the issuance of 5,202,334 KEC Shares to Luminus.

Luminus acquired the KEC Shares in connection with the Arrangement and for investment purposes. Luminus may acquire or dispose of additional securities of KEC in the future through the market, privately, or otherwise, as circumstances or market conditions warrant.

A copy of the Early Warning Report disclosing the transaction can be obtained on KEC's SEDAR profile at www.sedar.com or from Luminus c/o 1700 Broadway, 26th Floor, New York, NY, 10019, or by phone: Shawn Singh at (212) 424-2889, or by e-mail at legal@luminusmgmt.com.

SOURCE Luminus Energy IE

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View original content: http://www.newswire.ca/en/releases/archive/September2021/22/c9535.html

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