Iona Energy Announces the Results From the May 6th, 2014 Bondholder Meeting

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES

CALGARY, ALBERTA -- (Marketwired - May 6, 2014) - Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) is pleased to announce that 94.23% of the bondholders in attendance of today's bondholders meeting pertaining to the 9.50 per cent Iona Energy Company (UK) plc Senior Secured Callable Bond Issue 2013/2018 (ISIN NO 001 0689763) have voted in favour, and a motion has passed to amend certain terms of the bond agreement. For further information relating to the amendments, please see the summons to the bondholders' meetings here:
http://media3.marketwire.com/docs/940065p.pdf.

Additional information relating to the Company is available on SEDAR at www.sedar.com.


About Iona Energy:

Iona is an oil and gas exploration, development and production company focused on oil and gas development and exploration in the United Kingdom's North Sea.


Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



CONTACT INFORMATION

Iona Energy Inc.
Neill A. Carson, Chief Executive Officer
+44 1224 228400

Graham A. Heath, Interim Chief Financial Officer
+1 403 605 6726

David Ricciardi, Manager, Investor Relations
+1 403 978 4894