Petroforte Announces Proposed Share Consolidation, Name Change and Reduction of Stated Capital

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Petroforte International Ltd. ("Petroforte" or the "Corporation") (TSX
VENTURE:PFI) announces the following corporate developments:


Share Consolidation

Petroforte announces a proposed consolidation of its share capital on the basis
of one (1) new common share of the Corporation for every six (6) existing common
shares (the "Consolidation"). The Consolidation is subject to approval by
Petroforte's shareholders at the upcoming Annual and Special Meeting (the
"Meeting") scheduled to be held on Tuesday, December 17, 2013 and approval by
the TSX Venture Exchange ("TSX-V"). 


Both management and the board of directors believes that the Consolidation is in
the best interests of the Corporation's shareholders and is necessary in order
to provide the Corporation with a share capital structure that will better
attract capital financing and enhance future growth opportunities. The
implementation of the Consolidation would not affect the total shareholders'
equity of Petroforte or any components of shareholders' equity as reflected on
Petroforte's financial statements except: (i) to change the number of issued and
outstanding common shares; and (ii) to change the stated capital of the common
shares to reflect the Consolidation.


Petroforte currently has 143,936,247 common shares issued and outstanding and,
if the proposed Consolidation is approved, there will be approximately
23,989,375 common shares issued and outstanding. 


Name Change

In conjunction with the Consolidation, Petroforte also proposes a change of the
Corporation's name (the "Name Change") to "Canamax Energy Ltd.", subject to
approval by the TSX-V and the shareholders of the Corporation. The board of
directors feels that the proposed new name more accurately depicts the
Corporation's focus on the Canadian energy sector.


Reduction of Stated Capital

Petroforte also proposes a $23,374,105 reduction of the Corporation's stated
capital account (the "Reduction of Stated Capital"). As stated in the
Corporation's unaudited interim financial statements for the six months ended
August 31, 2013, the Corporation had an accumulated deficit of $23,374,105 at
that date which arose in connection with the business activities of the
Corporation since its incorporation in 1987. These former operations are
unrelated to the Corporation's current business activities and have resulted in
accumulating a deficit that, in the view of management, does not represent the
Corporation's current business prospects.


The proposed Reduction of Stated Capital will be credited against the
consolidated accumulated deficit of the Corporation and will not otherwise
affect the assets or liabilities of the Corporation. The proposed Reduction of
Stated Capital is subject to approval by Petroforte's shareholders at the
Meeting.


Annual and Special Meeting of Shareholders

Completion of the proposed Consolidation and Name Change will be subject to the
approval of the TSX-V and the Corporation's shareholders at the Meeting. The
Consolidation, Name Change and Reduction of Stated Capital each requires
approval of the shareholders by a special resolution of at least two-thirds of
the common shares represented at the Meeting voted in person or by proxy. Full
details of the voting requirements and procedures are described in the
management information circular to be delivered to the Corporation's
shareholders of record as of November 5, 2013 and filed on SEDAR (www.sedar.com)
under the Corporation's profile.


About Petroforte

Petroforte is a junior oil and gas company headquartered in Calgary, Alberta
engaged in the exploration, development and production of hydrocarbons within
Alberta and Saskatchewan. 


Neither the 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.


Forward-Looking Statements

This news release contains forward-looking statements. The use of the words
"may", "believe", "could", "would", "might", or "will be taken", "occur" or "be
achieved" and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Corporation as of the date
of such statements, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. The forward-looking statements set
forth in this news release are subject to various risks and other factors which
could cause actual results to differ materially from those expressed or implied
in the forward-looking statements. Known and unknown factors could cause actual
results to differ materially from those projected in the forward-looking
statements. 


You should not place undue importance on forward-looking information and should
not rely upon this information as of any other date. The Corporation disclaims
any intention or obligation to update or revise any of the forward-looking
statements in this news release, whether as a result of new information, future
events or otherwise, or to explain any material difference between subsequent
actual events and such forward-looking statements, except to the extent required
by applicable law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Petroforte International Ltd.
Harry Knutson
Lead Board Member
[phone]


Petroforte International Ltd.
Allan King
President, CEO & Director
[phone]