Mr. Scott Ackerman reports

AUSTPRO ANNOUNCES PRIVATE PLACEMENT

Austpro Energy Corp. has arranged a non-brokered private placement of 1.1 million units of the company at a price of 12 cents per unit for proceeds of $132,000, subject to approval of the TSX Venture Exchange. Each unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one common share of the company at a price of 15.5 cents for a period of one year from the date of issuance. The securities being issued pursuant to the financing will be subject to a hold period expiring four months and one day from the date of issuance in accordance with applicable Canadian securities law.

It is anticipated that The Emprise Special Opportunities Fund (2017) LP, a control entity of the company, will subscribe for the entirety of the financing. The issuances of units to insiders pursuant to the financing will be considered a related party transaction with the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company intends to rely on exemptions from the formal valuation and minority approval requirements of sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation, based on a determination that the fair market value of the participation in the financing by insiders will not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101.

No finders' fees will be payable in connection with the financing. The proceeds of the financing will be used by the company for general working capital purposes.

We seek Safe Harbor.