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Information Releases

December 20, 2017

Laricina Energy Announces Changes to the Board of Directors

Laricina Energy Ltd. (“Laricina” or the “Company”) is pleased to announce the appointment of Paul Shopiro to its Board of Directors (the "Board") effective December 19, 2017. CPPIB Credit Investments Inc. (“CPPIB Credit”), a wholly-owned subsidiary of the Canada Pension Plan (“CPP”) Investment Board, nominated Mr. Shopiro as a replacement director for Andrew Darling who resigned effective November 22, 2017. Pursuant to a participation agreement with Laricina dated November 30, 2015, CPPIB Credit is entitled to nominate up to three of the five directors to the Board by virtue of its registered and beneficial ownership interest in the equity of Laricina. Mr. Shopiro and Mr. Tahir-Kheli are CPPIB Credit’s nominees in this regard.

Mr. Shopiro joined CPP Investment Board in 2008 in what is now called Principal Credit Investments. He has executed credit investments in a number of different sectors, including natural resources and mining. Prior to joining CPP Investment Board, Mr. Shopiro worked in the Americas Special Situations Group at Goldman Sachs & Co. In this role, he reviewed and executed on a number of debt and equity investments in a variety of different industries. Mr. Shopiro holds Bachelor of Commerce and Bachelor of Arts degrees from Queen’s University.

As previously announced, and effective December 29, 2017, Ian Bruce is resigning from the Board. Mr. Bruce has been a valued member of the Board since his appointment in January 2013 and the Company acknowledges and thanks him for his dedicated service and many contributions.

The Company’s annual shareholders' meeting will be held on January 31, 2018, the meeting materials for which will be distributed the first week of January 2018 to shareholders of record on December 18, 2017.

The Company expects to launch a strategic review and engage a financial advisor early in the new year. Further information will be forthcoming when the Company has advanced this initiative.

About Laricina Energy Ltd.

The Company’s current focus and scope of activities is on preserving the integrity and value of its assets, and on exploring alternatives to leverage the Company’s assets, capitalize on emerging opportunities and potentially resume development of its oil sands properties when favorable market conditions return. A small complement of employees and consultants are continuing under a scaled-back business plan with an emphasis on cost control.

For further information please visit or contact:

Diane Koenig
Executive Vice President

(403) 750-0810

Laricina Energy Ltd.
East Tower, Fifth Avenue Place
800, 425 – 1Street SW
Calgary, AB  T2P 3L8

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