Traverse Energy Ltd. Announces Completion of $11.5 Million Bought Deal Financing Including Exercise in Full of Over-Allotment...

NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S. 

Traverse Energy Ltd. ("Traverse" or the "Corporation") (TSX VENTURE:TVL) today
announced that it has closed its previously announced bought deal financing of
14,375,000 common shares ("Common Shares") of the Corporation, which includes
1,875,000 Common Shares issued pursuant to the exercise in full of the
over-allotment option, at a price of $0.80 per Common Share for aggregate gross
proceeds of $11,500,000 (the "Financing"). 


The Financing was underwritten by Acumen Capital Finance Partners Limited
("Acumen"). 


Traverse intends to use the proceeds from the Offering to expand its 2014
exploration and development program.


About the Corporation

Traverse is a junior oil and natural gas exploration and production company in
Alberta. The common shares of the Corporation currently are listed on the TSX
Venture Exchange under the trading symbol "TVL". 


Forward-Looking Information

This news release contains forward-looking information which is not comprised of
historical facts. Forward-looking information involves risks, uncertainties and
other factors that could cause actual events, results, performance, prospects
and opportunities to differ materially from those expressed or implied by such
forward-looking information. Forward-looking information in this news release
includes statements with respect to the use of proceeds from the Offering.
Material assumptions and factors that could cause actual results to differ
materially from such forward-looking information includes determination by
Traverse to use the proceeds for alternate purposes. Although Traverse believes
that the material assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance should not be
placed on such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur. Traverse
disclaims any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise,
other than as required by law.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or accuracy of the content of this release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Traverse Energy Ltd.
Laurie Smith
President and Chief Executive Officer
[phone]


Traverse Energy Ltd.
780, 839 - 5th Avenue S.W.
Calgary, Alberta T2P 3C8