Concerned Shareholders of Eagle Energy Inc. Announce Conference Call

Calgary, Alberta--(Newsfile Corp. - June 19, 2017) - Daniel Gundersen and Kingsway Financial Services Inc. (together, the "Concerned Shareholders") announce today that they have scheduled a conference call for the shareholders of Eagle Energy Inc. (TSX: EGL) ("Eagle" or the "Company").

Our information circular (the "Circular") and BLUE form of proxy have been mailed to all shareholders of Eagle in connection with its annual general meeting scheduled to be held at 10:00 a.m. (Calgary time) on Tuesday, June 27, 2017 (the "Meeting"). A copy of the Circular is also available on SEDAR under Eagle's profile and at our website www.SaveEagle.ca.

The Concerned Shareholders urge Eagle shareholders to vote for change by voting FOR the Concerned Shareholder nominees on the BLUE form of proxy or voting instruction form in accordance with the instructions set out in the Concerned Shareholder meeting materials. Shareholders that have not yet received our BLUE proxy materials are urged to contact us or their broker immediately. Your BLUE proxy must be received in accordance with the instructions set out therein well in advance of the deadline of 9:00 a.m. (Calgary time) on Friday, June 23, 2017.

Conference Call

The Concerned Shareholders will hold a telephone conference call at 4:00 pm EDT (2:00 pm MDT) on Tuesday, June 20, 2017. Eagle shareholders, participants from the brokerage community and media should call 1-888-231-8191 (North American Toll Free) or 1-647-427-7450 (Toronto) at approximately 3:55 pm EDT (1:55 pm MDT). The conference ID is 42595012.

A recording of the conference call will be available for a period of seven days for playback and will be accessible by dialing any of the following numbers and entering the password of 42595012.

Conference Call Agenda

The purpose of the conference call is for the Concerned Shareholders to provide additional details to Eagle shareholders regarding their previously published information. We will address our view of Eagle's current financial situation in light of the recent deterioration in global oil prices and we will address feedback that we have received from shareholders regarding Eagle's loan agreement with White Oak Global Advisors, LLC. There will also be an opportunity for callers to ask questions.

Our Nominees for the Board of Directors

The Concerned Shareholders have proposed a first-class slate of board nominees. Dan Gundersen is responsible for putting this team together. Mr. Gundersen has been in the oil & gas business for more than 20 years and has significant leadership and operating experience. He's a professional engineer and a Chartered Financial Analyst (CFA) charterholder. After doing extensive and detailed due diligence, he developed a plan for Eagle that will benefit all shareholders. Dan is blunt regarding his views and experiences working with Gerry Gilewicz and Brad Porter, "they are among the most talented oil & gas executives I know and they are always 100% aligned with shareholder interests, always ahead of everything else." Earlier this year, a prominent Calgary lawyer suggested to Dan, "Rob Fong would be a great addition to your team. Because of his experience at the TSX, he has the governance side covered." Dan Gundersen has put together a board that will deliver for shareholders.

Glass Lewis Report

Glass, Lewis & Co. ("Glass Lewis") released a research report on June 16, 2017. Much like the Institutional Shareholder Services Inc. ("ISS") report noted in our press release of June 15, 2017, Glass Lewis accurately acknowledges Eagle's many problems and concludes that change is required. They have recommended that shareholders vote "withhold" for Mr. Steckley, a management nominee. Our view is that these firms have a strong bias towards existing board slates, and that anything less than full support for the existing board is ample acknowledgement that current corporate governance is not adequate.

The Proxy to Vote is BLUE

Time is of the essence. Your Company is at a crucial juncture and your vote is important, regardless of how many shares you own.

We urge you to save your investment and vote for change by voting FOR the Concerned Shareholder nominees on the BLUE Proxy today. Ensure that your vote is FOR Daniel Gundersen, Robert Fong, Gerald Gilewicz, and Bradley Porter.

If you have already voted using the current management's yellow proxy or voting instruction form, you can change your vote by simply voting using the BLUE proxy or voting instruction form. It is only the later-dated proxy or voting instruction form that will be counted. We encourage shareholders to disregard and discard the yellow form of proxy.

Voting is a quick and simple process. Your BLUE proxy must be received well in advance of the deadline of 9:00 a.m. (Calgary time) on June 23, 2017. Due to the limited time available, we recommend voting by Internet, telephone or fax today or no later than 24 hours before the deadline. Visit our website www.SaveEagle.ca for voting instructions. Shareholders with questions or who require any assistance in executing their proxy or voting instruction form, please call D.F. King Canada at: North American Toll Free Number: 1-800-398-2816 or outside North America, Banks, Brokers and Collect Calls: 1-201-806-7301. Email: inquiries@dfking.com

Your vote is extremely important. Every vote counts to ensure change is implemented to save your Company. Eagle shareholders should disregard any materials received from management and vote only the BLUE proxy today.

Contacts

Daniel Gundersen
403-852-4423
dan@SaveEagle.ca

Larry G. Swets Jr.
630-290-2432

Jack Muir
604-836-8782
jackmuir@cogencygroup.ca

DF King
1-800-398-2816 (toll free within North America)
Email: inquiries@dfking.com