Cancen Announces Amendment to Non-Brokered Private Placement Allocation and Appointment of New Director

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Cancen Oil Canada Inc. ("Cancen" or the "Corporation") (TSX VENTURE:COI) is
pleased to announce the following amendment to the terms of its non-brokered
private placement (the "Non-Brokered Private Placement") and the appointment of
a new director:


Amendment to Non-Brokered Private Placement Allocation 

On December 11, 2012 the Corporation announced that, as part of its Non-Brokered
Private Placement, Cancen's new management team and directors would subscribe
for up to 3.9 million units ("Units") of the Corporation at a price of $0.38 per
Unit. In addition, up to 3.9 million common shares of the Corporation ("Common
Shares") would be issued to certain additional subscribers identified by the new
management team at a price of $0.38 per Common Share. 


On December 28, 2012 the Corporation announced the first closing of the
Non-Brokered Private Placement pursuant to which the new management team
subscribed for 2,965,366 Units for total proceeds of $1,126,839, and an
additional 3,636,393 Common Shares were issued to certain additional subscribers
for total proceeds of $1,381,829. The aggregate gross proceeds from the first
closing of the Non-Brokered Private Placement were $2,508,668. 


Today the Corporation announces that it will allocate the remaining unsubscribed
Units available for subscription pursuant to the Non-Brokered Private Placement
to the Common Shares portion of the offering, subject to the receipt of all
required approvals. Subsequent to this allocation up to 1,294,241 Common Shares
will be issued to certain additional subscribers identified by the new
management team under the Non-Brokered Private Placement at a price of $0.38 per
Common Share for up to $491,812 in gross proceeds. 


Director Appointment 

Cancen is pleased to announce the appointment of Keith Talbot to the board of
directors of the Corporation. Since 2008 Mr. Talbot has been the President and a
director of Weslease of Canada Ltd., a private financial services company
specializing in equipment lease financing to the Canadian marketplace. From 1986
to1988 Mr. Talbot was the President of Revelstoke Lumber and Hardware, prior to
the sale of the business. From 1983 to 1986, Mr. Talbot was the Vice President
of Majestic Electronic Superstore, a chain of electronic retail stores. Mr.
Talbot was also the founder of a private limited partnership, Cancen Oil
Processors Limited Partnership 1, which sold an oil and gas disposal facility to
the Corporation at the time the Corporation completed its qualifying transaction
in October 2011. The Corporation has agreed to issue Mr. Talbot 500,000 stock
options with an exercise price of $0.50 and an expiry date of five years from
the date of grant. 


Neil McLennan has tendered his resignation as a director effective January 11,
2013. The Board thanks Mr. McLennan for his contributions to the Corporation and
wishes him well in his new endeavours.


About Cancen 

Cancen is an energy services company that focuses on providing specialized
services to upstream oil and natural gas companies operating in the Western
Canadian Sedimentary Basin. The services provided by Cancen assist these
companies with the treatment and sale of crude oil and the handling of
by-products associated with oil and natural gas development and production. The
services provided by Cancen include crude oil emulsion treatment, oilfield waste
processing, and disposal of produced and waste water. 


Reader Advisory 

This press release contains forward-looking statements and information that are
based on the beliefs of management and reflect the Corporation's current
expectations. When used in this press release, the words "estimate", "project",
"belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should"
and the negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and information.
The forward-looking statements and information in this press release include
information relating to the securities issued pursuant to the Non-Brokered
Private Placement. Such statements and information reflect the current view of
the Corporation with respect to risks and uncertainties that may cause actual
results to differ materially from those contemplated in those forward-looking
statements and information. 


By their nature, forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results, performance
or achievements, or other future events, to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that statements are
made and the Corporation undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other circumstances
should change. Investors are cautioned against attributing undue certainty to
forward-looking statements. 


The Corporation cautions that the foregoing list of material factors is not
exhaustive. When relying on Cancen's forward-looking statements and information
to make decisions, investors and others should carefully consider the foregoing
factors and other uncertainties and potential events. The Corporation has also
assumed that material factors will not cause any forward-looking statements and
information to differ materially from actual results or events. However, the
list of these factors is not exhaustive and is subject to change and there can
be no assurance that such assumptions will reflect the actual outcome of such
items or factors. 


Please visit Cancen's website at: www.cancenoilcanada.com

FOR FURTHER INFORMATION PLEASE CONTACT: 
Cancen Oil Canada Inc.
Brian Petersen
Chief Executive Officer
[phone] ext. 105
[e-mail]


Investor Relations:
Buchalter Consulting
Stan Buchalter
(1 866) 631-6537 or (1 905) 631-6537
[e-mail]