Crew Energy Inc. Announces Closing of Bought Deal Financing

CALGARY, ALBERTA--(Marketwired - March 3, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Crew Energy Inc. (TSX:CR) of Calgary, Alberta ("Crew" or the "Company") today announced that it has closed its previously announced bought deal financing (the "Offering").

A total of 16,667,000 common shares of Crew have been issued at a price of $6.00 per share for gross proceeds of approximately $100 million. The Offering was made through a syndicate of underwriters co-led by GMP Securities L.P. and TD Securities Inc.

Crew Energy Inc. is a dynamic, growth-oriented exploration and production company, focused on increasing long-term production, reserves and cash flow per share through the development of our world-class Montney resource. Crew is based in Calgary, Alberta and our shares are traded on The Toronto Stock Exchange under the trading symbol "CR".

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.