Pipestone Energy Corp. Files the Pipestone Oil Corp. December 31, 2018 Audited Financial Statements

CALGARY, March 28, 2019 - Pipestone Energy Corp. (“Pipestone Energy”) (TSX-V: PIPE) announces that in accordance with the requirements of National Instrument 51-102 - Continuous Disclosure Obligations (“NI 51-102”) it has filed the audited financial statements for its predecessor Pipestone Oil Corp. (“POC”) for the year ended December 31, 2018. As Pipestone Energy was the “reverse takeover acquirer” (as defined in NI 51-102) of Blackbird Energy Inc. (“Blackbird”) in the amalgamation of POC and Blackbird pursuant to a series of steps under a plan of arrangement under section 193 of the Business Corporations Act (Alberta) completed on January 4, 2019 (the “Arrangement”), Pipestone Energy is required to make this historical filing. The financial statements have been filed on SEDAR under Pipestone Energy’s profile at www.sedar.com.

Q1 2019 will be the first quarter that the combined entity financial statements and accompanying Managements Discussion & Analysis will be published. The first quarter of 2019 financial results of Pipestone Energy are expected to be released and filed on SEDAR on or about May 15, 2019

About PipeStone Energy Corp.

Pipestone Energy Corp. is a premier pure-play Pipestone Montney company focused on developing the condensate rich Pipestone area of Alberta. Pipestone Energy is committed to building long term value for our shareholders and values the partnerships that it is developing within its operating community. Pipestone Energy’s head office is in Calgary and its field operations are conducted from Grand Prairie. Pipestone Energy’s common shares are publicly traded though the facilities of the TSX Venture Exchange under the trading symbol PIPE. Pipestone Energy’s listed warrants are publicly traded though the facilities of the TSX Venture Exchange under the trading symbol PIPE.WT.

This news release does not constitute an offer to buy or the solicitation of an offer to sell any of the securities Pipestone Energy.

Further Information

Website: www.pipestonecorp.com