Loon Energy Announces Resignation and Appointment of Interim CEO

Calgary, Alberta--(Newsfile Corp. - October 27, 2021) - Loon Energy Corporation (NEX: LNE.H) ("Loon" or the "Company") announces that Michael Stein has resigned as an officer and director of the Company for personal reasons and that Timothy Elliott has been appointed interim Chief Executive Officer and Corporate Secretary. The Board of Directors thanks Michael for his contributions.

Mr. Elliot, a lawyer by profession, has been a director and Chairman of the Board of Directors of Loon Energy Corporation since October 2008. He was President and Chief Executive Officer of Serinus Energy Inc ("Serinus"), then a Toronto Stock Exchange listed company, from February 2006 to September 1, 2016 and a director of Serinus from April 2001 to September 1, 2016. He has been a director of Jura Energy Corporation, a public company listed on the TSX Venture Exchange, since March 2007 and is currently Chairman of the Jura board of directors, chair of its compensation committee and a member of its audit committee.

About Loon Energy
Loon was incorporated under the Business Corporations Act (Alberta) in the fourth quarter of 2008 and carried on business as an international oil and gas exploration company until 2017. Loon currently does not carry on any business other than the identification and evaluation of assets or businesses with a view to completing a transaction.

Loon Energy Corporation
Timothy Elliott
Interim Chief Executive Officer
+1-971-50-455-6087
elliottuae@gmail.com

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