PIPE Pipestone Energy Corporation

(PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone” or the “Company”) is pleased to announce that its common shares and warrants have been approved for listing on the Toronto Stock Exchange (“TSX”) and will commence trading on the TSX at the opening of the market on December 16, 2020. Concurrent with the up-listing to the TSX, the common shares and warrants of Pipestone will be de-listed from the TSX Venture Exchange. Pipestone’s ticker symbol for the common shares and warrants will remain “PIPE” and “PIPE.WT”, respectively.

The Company’s graduation to the TSX marks an important milestone for the business and coincides with Pipestone’s operational and financial execution to date, as well as its three-year corporate growth plan.

Pipestone Energy Corp.

Pipestone Energy Corp. is an oil and gas exploration and production company with its head office located in Calgary, Alberta. The company is focused on developing its pure-play condensate-rich Montney asset in the Pipestone area near Grande Prairie. Pipestone is committed to building long term value for our shareholders and values the partnerships that it is developing within its operating community. For more information, visit www.pipestonecorp.com.

Pipestone Contacts:

Paul WanklynPresident and Chief Executive Officer(587) 392-8407paul.wanklyn@pipestonecorp.com	Craig NieboerChief Financial Officer(587) 392-8408craig.nieboer@pipestonecorp.com
Dan van KesselVP Corporate Development(587) 392-8414dan.vankessel@pipestonecorp.com

Advisory Regarding Forward-Looking Statements

In the interest of providing shareholders of Pipestone and potential investors information regarding Pipestone, this news release contains certain information and statements (“forward-looking statements”) that constitute forward-looking information within the meaning of applicable Canadian securities laws.

In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to: expected commencement of trading of Pipestone common shares and warrants on the TSX, and expected de-listing of common shares and warrants from the TSX Venture Exchange.

The forward-looking statements contained in this news release are made as of the date hereof and Pipestone assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. All forward-looking statements herein are expressly qualified by this advisory.

TSX Venture Exchange Disclaimer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.