5/15/2018 True North Energy Announces Updates to Recent Press...

5/15/2018 True North Energy Announces Updates to Recent Press Release Regarding Term Sheet Termination Press Release |

SPRING, TX / ACCESSWIRE / May 15, 2018 / True North Energy Corporation, a Nevada corporation (OTC PINK: TNEN) ("True North" or the "Company"), today provides further updates to the matters disclosed in its May 10, 2018 press release. Specifically, the Company announces that it has received a response to its letter from the owner of Kryptonite Korea Limited ("Kryptonite") wherein the Company proposed to rescind/cancel the Kryptonite acquisition and other commercial terms. Legal counsel for Kryptonite responded that Kryptonite was terminating the contract. Both parties reserve their rights for further action.

Additionally, the Company previously announced it had demanded payment on certain promissory note issued by migme ltd, an Australian company ("Migme") and its wholly-owned subsidiary, Amiki Pte Ltd. ("Amiki") to the Company. After further contemplation, the Company has decided not to proceed with that demand at this time.