TAN Tanager Energy

Tanager Energy Inc. ("Tanager" or the "Corporation") (TSX VENTURE:TAN) advises
that it has closed the first tranche of its previously announced financing of
$600,000, subject to final approval from the TSX Venture Exchange. Pursuant to
the non-brokered private placement, the Corporation issued 1,575,000 units at a
price of $0.08 per share for gross proceeds of $126,000. Each Unit consists of
one (1) common share and one (1) common share purchase warrant. Each warrant
entitles its holder thereof to purchase one additional common share in the
capital of Tanager for a period expiring on May 30, 2016, at an exercise price
of $0.15 per common share. The shares issued in connection with the private
placement will be subject to a four month hold period that expires on September
27, 2014. 


- Viking Investments Group, Inc. ("Viking") (OTC: VKIN) has executed another
Letter of Intent ("LOI") with Tanager which supersedes the LOI signed by Viking
and Tanager on or about May 16, 2014 (the "May LOI").


Pursuant to the May LOI, which was announced on May 22, 2014, Viking proposed to
subscribe for 3,125,000 shares of Tanager for an aggregate price of $250,000
(the "Subscription"). After several discussions between representatives of both
companies, the parties opted to briefly postpone the closing of the Subscription
to explore additional, long-term business arrangements between Viking and
Tanager. As a result of such discussions and Viking's increased confidence and
belief in Tanager's executive team and overall business plan, Viking intends, in
addition to the Subscription, to provide additional capital to Tanager in
exchange for a 50% working interest in an oil and gas property located in
Alberta, Canada (the "WI Purchase"). Tanager will operate and manage the subject
property in accordance with an Operating Agreement pursuant to the Canadian
Association of Petroleum Landman Operating Procedure. The Subscription, which is
non-brokered, and the closing of the WI Purchase are scheduled to be completed
on or before July 31, 2014 and are subject to the normal approvals by the TSX
Venture Exchange.


Insiders of the Company may subscribe for in excess of 25% of the aggregate
proceeds of the Offering, constituting a "related party transaction" as defined
under Multilateral Instrument 61-101 - Protection of Minority Security Holders
in Special Transactions ("MI 61-101"). The transaction will be exempt from the
formal valuation and minority shareholder approval requirements of MI 61-101 as
neither the fair market value of any shares issued to or the consideration paid
by such persons will exceed 25% of the Company's market capitalization. 

Net proceeds from the Private Placement will be used for acquisition or farm-in
of producing oil and gas properties and for general corporate purposes.


The closing date of the Private Placement which is non-brokered is now scheduled
to close on or before July 31, 2014 and is subject to the normal approvals by
the TSX Venture Exchange.


Mr. Pat Acham, a Director of the Corporation subscribed for 250,000 units under
the private placement. Tanager has determined that there are exemptions
available from the various requirements of TSX Venture Policy 5.9 and
Multilateral Instrument 61-101 for the issuance of these shares, (Formal
Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair
Market Value Not More Than 25% of Market Capitalization). No new insiders were
created, nor has any change of control occurred, as a result of this private
placement. 


The purchase of the units by Mr. Acham was made for investment purposes. Mr.
Acham may increase or decrease his investment in Tanager depending on market
conditions or any other relevant factors.


Tanager Energy Inc. is a Lethbridge, Alberta based corporation engaged in the
exploration for oil and gas and minerals, with an operations office in Calgary,
Alberta. The Corporation's common shares are listed on the TSX Venture Exchange
under the trading symbol "TAN".


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tanager Energy Inc.
John Squarek BSc, P. Eng., MBA
President and Chief Executive Officer
403-388-0969
john@tanagerenergy.com

Tanager Energy Inc. (TSXV:TAN)
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Tanager Energy Inc. (TSXV:TAN)
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