Troy Energy Corp. Announces Closing of Private Placement

Troy Energy Corp. (the "Corporation" or "Troy") (NEX:TEG.H) announces that it
has closed its previously announced private placement financing with the
issuance of 2,999,663 common shares at a price of $0.15 per share for aggregate
gross proceeds of $449,950. In accordance with applicable securities laws, the
common shares issued under this offering are subject to four-month hold periods
that will expire on March 10, 2012. The proceeds from this offering will be used
for restructuring costs, payment of outstanding liabilities, due diligence
expenditures relating to potential TSX Venture Exchange graduation transactions
and for general working capital purposes. 


Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certain
information contained herein constitutes forward-looking statements.
Forward-looking statements are based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking statements. The
Corporation undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking statements.