Pieridae Receives Permit to Construct the Goldboro LNG Facility

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CALGARY, Oct. 31, 2018 - Pieridae Energy Ltd. (PEA-TSXV) welcomes the decision of the Nova Scotia Utility and Review Board to issue the permit to construct the Goldboro LNG Facility.

Pieridae will now proceed diligently to satisfy each of the associated conditions of that permit and to commence the construction of the Goldboro LNG Facility as soon as a positive financial investment decision is taken by Pieridae.

In anticipation of the commencement of construction, Pieridae has engaged Hatch Ltd. to act as its engineering adviser. Hatch was selected due to its core competencies in the conversion, storage, handling and transportation of LNG, which is critical to ensuring a well-thought-out plan that incorporates all aspects of the project site. Hatch has a global network of approximately 9,000 professionals spanning over 150 countries in various sectors including energy and infrastructure.

Pieridae is also continuing to engage with First Nations so that the Mi’kmaq people will realize on the opportunities contemplated by the Memorandum of Understanding signed in August 2013.

“It is appropriate to formally recognize the close cultural and historical relationship between the Mi’kmaq people in Nova Scotia and their traditional territory and the resources of the province while acknowledging that the Mi’kmaq have not historically ceded lands or resources through treaty or other formal agreement,” said Mr. Alfred Sorensen, CEO of Pieridae.

About Pieridae Energy

Founded in 2011, Pieridae, a majority Canadian owned corporation based in Calgary, is focused on the development of integrated energy-related activities, from the exploration and extraction of natural gas to the development, construction and operation of the Goldboro LNG facility and the production of LNG for sale to Europe and other markets. Pieridae Energy is on the leading edge of the re-integration of the LNG value chain in North America. Pieridae Energy has 50,571,723 shares issued and outstanding which trade on the TSX Venture Exchange (PEA).