Questfire Energy Corp. Announces Closing of Convertible Debenture Offering

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THE UNITED STATES.


Questfire Energy Corp. ("Questfire" or the "Corporation") (TSX VENTURE:Q.A) (TSX
VENTURE:Q.B) is pleased to announce that on June 28, 2012 it closed its
previously announced private placement to raise gross proceeds of $1,485,000. 


The Corporation issued 297 units pursuant to the private placement, with each
unit being comprised of one $5,000 par value convertible unsecured senior
debenture (each a "Debenture") and 5,000 common share purchase warrants (the
"Warrants"). The principal amount of the Debentures is convertible, in whole or
in part, into Class A Shares ("Common Shares") at the option of the holder at
any time prior to the close of business on June 30, 2014 at a conversion price
of $0.50 per Common Share. Each Warrant entitles the holder thereof to acquire
one Common Share at a price of $0.75 until June 30, 2014. The Debentures and
Warrants may not be traded until October 29, 2012, except in accordance with
applicable securities laws. 


Forward-Looking statements: This document contains statements about future
events that are forward looking in nature and, as a result, are subject to
certain risks and uncertainties such as changes in plans or the occurrence of
unexpected events. Actual results may differ from the estimates provided by
management.