Timothy Elliot Announces Sale of Shares of Loon Energy Corporation

Toronto, Ontario--(Newsfile Corp. - October 26, 2020) - Timothy Elliot (the "Seller") has today filed an early warning report (the "Early Warning Report") advising of his sale of an aggregate of 3,789,750 common shares (the "Shares") of Loon Energy Corporation (the "Company") in a private transaction on October 23, 2020. The Shares were sold at a price of $0.005 per Share for total aggregate consideration of $18,948.75. Following the sale of Shares, the Seller does not own any securities of the Company.

The Shares were sold for investment purposes. The Seller may acquire additional Shares of the Company either on the open market or through private acquisitions or sell the Shares on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

This news release is being issued as required by National Instrument 62-104 - Take-Over Bids and Issuer Bids and relates to the Company, whose head office is located at 1100, 700 - 4th Avenue S.W. Calgary, Alberta T2P 3J4, and to the Seller. A copy of the Early Warning Report can be obtained at www.sedar.com under the Company's profile, or by contacting Timothy Elliot at telephone: +971-4-339-5212 or email: telliott@loonenergy.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66826