Crowsnest Acquisition Corp. Announces Engagement Letter With Global Securities Corporation

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.


Crowsnest Acquisition Corp. (TSX VENTURE:CAW.P) (the "Corporation" or
"Crowsnest"), a "capital pool company", as such term is defined in the policies
of the TSX Venture Exchange ("Exchange"), is pleased to announce that it has
entered into an engagement letter (the "Engagement Letter") with Global
Securities Corporation ("Global") dated March 6, 2014, with respect to the
financing to be completed in connection with the Corporation's "Qualifying
Transaction" (as such term is defined in the policies of the Exchange) involving
QE2 Acquisition Corp. ("QE2"), all as previously disclosed in the news release
of Crowsnest dated February 28, 2014 and available under the Corporation's SEDAR
profile at www.sedar.com. 


Under the terms of the Engagement Letter, Global has been appointed to act as
Crowsnest's agent to raise, on a "commercially reasonable efforts" basis, gross
proceeds of a minimum of $500,000 and a maximum of $1,000,000 (the "Private
Placement") to be completed in conjunction with, or prior to the closing of the
Qualifying Transaction. Subject to the policies of the Exchange, the Private
Placement will consist of an offering of 12% interest bearing subordinate note
debentures ("Debentures") with interest payable semi-annually in arrears. The
Debentures will have a two-year maturity period, and will be convertible into
common shares of the Resulting Issuer ("Common Shares") at a conversion price of
the greater of $0.50 per Common Share or the "Market Price" (as such term is
defined under the policies Exchange) per Common Share, with a forced conversion
when the simple average closing price of the Common Shares on Exchange exceeds
$0.65 for a minimum of 20 consecutive trading days (whether or not trading of
Common Shares occurs on such days, provided that the Common Shares trade on at
least 5 of such trading days). The Debentures will be subject to a four month
hold period in accordance with applicable securities law. 


Global will receive a commission of 8% of the aggregate gross proceeds placed
under the Private Placement payable in cash. Global will also be granted 160,000
non-transferrable broker warrants ("Broker Warrants") based on completion of the
maximum amount of $1,000,000 under the Private Placement, and prorated
accordingly if the Private Placement is completed for less than the maximum
amount of $1,000,000. Each Broker Warrant will entitle Global to purchase Common
Shares at an exercise price of $0.50 per Common Share and will be valid for a
period of 24 months from the date of issuance. The Broker Warrants will be
subject to a four month hold period in accordance with applicable securities
law. Global will also be reimbursed for its reasonable legal and out-of-pocket
expenses and will also receive a corporate finance fee.


The proceeds of the Private Placement will be used for general working capital
and the Resulting Issuer's future growth plans.


Sponsorship of Qualifying Transaction

Sponsorship of the Qualifying Transaction is required by the Exchange unless an
exemption from this requirement can be obtained in accordance with the policies
of the Exchange. The Corporation has applied to the Exchange for an exemption to
the sponsorship requirement. There is no assurance that an exemption from this
requirement will be obtained.


Trading Halt

The Common Shares are currently halted from trading, and the trading of the
shares is expected to remain halted pending completion of the Qualifying
Transaction.


Additional Information

Completion of the Qualifying Transaction and the Private Placement is subject to
a number of conditions, including but not limited to, Exchange acceptance, and
if applicable pursuant to the requirements of the Exchange, majority of the
minority approval. There can be no assurance that the Qualifying Transaction
will be completed as proposed or at all. 


Investors are cautioned that, except as disclosed in the management information
circular or filing statement to be prepared in connection with the Qualifying
Transaction, any information released or received with respect to the Qualifying
Transaction may not be accurate or complete and should not be relied upon.
Trading in the securities of a capital pool company should be considered highly
speculative.


Cautionary Statements

This news release contains "forward-looking information" within the meaning of
applicable securities laws relating to the proposal to complete the Qualifying
Transaction and associated transactions, including statements regarding the
terms and conditions of the Qualifying Transaction, the Private Placement, and
the use of proceeds of the Private Placement. Although the Corporation believes
in light of the experience of its officers and directors, current conditions and
expected future developments and other factors that have been considered
appropriate that the expectations reflected in this forward-looking information
are reasonable, undue reliance should not be placed on them because the
Corporation can give no assurance that they will prove to be correct. Readers
are cautioned to not place undue reliance on forward-looking information. The
terms and conditions of the Qualifying Transaction and the Private Placement may
change based on the Corporation's due diligence (which is going to be limited as
the Corporation intends largely to rely on the due diligence of other parties of
the Qualifying Transaction to contain its costs, among other things) and the
receipt of tax, corporate and securities law advice for both Crowsnest and QE2.
Actual results and developments may differ materially from those contemplated by
these statements depending on, among other things, the risks that the parties
will not proceed with the Qualifying Transaction, the Private Placement and
associated transactions, that the ultimate terms of the Qualifying Transaction,
the Private Placement, and associated transactions will differ from those that
currently are contemplated, and that the Qualifying Transaction, the Private
Placement, and associated transactions will not be successfully completed for
any reason (including the failure to obtain the required approvals or clearances
from regulatory authorities). The statements in this press release are made as
of the date of this release. The Corporation undertakes no obligation to comment
on analyses, expectations or statements made by third-parties in respect of the
Corporation, QE2, Global, their securities, or their respective financial or
operating results (as applicable).


Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as
that term is defined in the polices of the TSX Venture Exchange) has in any way
passed upon the merits of the Qualifying Transaction and associated transactions
and neither of the foregoing entities has in any way approved or disapproved of
the contents of this press release.


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.


The Common Shares have not been and will not be registered under the United
States Securities Act of 1933, as amended and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirement. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Crowsnest Acquisition Corp.
Gordon McCormack
[phone]
[e-mail]


QE2 Acquisition Corp.
Mike Belantis
CEO and Director
[phone]
[e-mail]


Global Securities Corporation
Adam Garvin
VP Corporate Finance
[phone]
[e-mail]