Kivalliq Closes Cdn$1,522,800 First Tranche of Private Placement

20 April 2015

April 20, 2015
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia – Kivalliq Energy Corporation (TSX-V:KIV) (“Kivalliq”) today announced the closing of the first tranche of the CDN$2,700,000 Non-Brokered Private Placement (“Placement”) financing announced March 30, 2015. Kivalliq has issued 10,152,134 units (“FT Units”), at the price of CDN$0.15 per FT Unit for gross proceeds of CDN$1,522,820. Each FT Unit consists of one common share issued on a “flow-through basis” (a “FT Share”) pursuant to the Income Tax Act (Canada) and one-half of one non-transferable, non-flow-through common share purchase warrant (a “Warrant”). Each whole Warrant will be exercisable into a non-flow-through common share of Kivalliq (a “Warrant Share”) for a period of 24 months from the Closing Date at an exercise price of $0.18 per Warrant Share.