Shoal Point Energy Announces Closing of Second Tranche of Private Placement

Shoal Point Energy Ltd. (CNSX:SHP)(OTCQX:SHPNF) today announced the closing of
the company's previously announced (Sept. 24, 2013) non-brokered Private
Placement. The second and final tranche consisted of 15,553,500 units at a price
of $0.05 for gross proceeds of $777,675.


Each unit consisted of one share and one share purchase warrant. Each full
warrant is exercisable at a strike price of $0.06 with an expiry on the second
anniversary of the date of closing of the transaction. These proceeds will be
used for general working capital. 


In total, the company placed 57,271,340 units for gross proceeds of $2,863,567.
Of this total, 3 million units were flow-thru units at a price of $0.05 per unit
for gross proceeds of $150,000.00. Each flow-thru unit consisted of one
flow-thru share and one-half of a share purchase warrant. Each full warrant is
exercisable at a strike price of $0.06 with an expiry on the second anniversary
of the date of closing of the transaction. Proceeds of the flow-thru private
placement will be used for Qualifying Canadian Exploration Expenses.


Portions of the private placement were subject to finder's fees consisting of 6%
of the cash value plus 6% Agent Warrants with the same terms as the warrants
associated with the units.


The private placement is subject to regulatory acceptance and approval.

On behalf of the Board of Directors,

Mark Jarvis, CEO

Shoal Point Energy Ltd.

FOR FURTHER INFORMATION PLEASE CONTACT: 
Shoal Point Energy Ltd.
Lindsay MacLeod
416-637-2181 ext. 316
info@shoalpointenergy.com
www.shoalpointenergy.com

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