Renaissance Oil has issued to Energy Mexican Services, LLC 13,333,333 units  (the “Units”) at a price of C$0.20 per Unit, with each Unit comprised of one common share of the Company (each, a “Share”) and one common share purchase warrant of the Company (each, a “Warrant”) entitling the holder to acquire one additional common share of the Company at a price of C$0.35 until September 25, 2023, for proceeds to the Company of US$2 million (the “Investment”).

Energy Mexican Services, LLC (“EMS”) is a company with multiple activities in the infrastructure development, O&G services, transportation and construction sectors. EMS was founded with the intention of developing business opportunities in the energy sector, activity that has increased after the opening of the Mexican Oil and Gas industry in 2013.

The proceeds from the Investment will be used to acquire additional oil and gas rights in Mexico, fund capital expenditures and for general corporate purposes.

In connection with the Investment, the Company issued 399,999 Units on the same terms as those issued in connection with the Investment in satisfaction of a finder’s fee.

The Investment is subject to final acceptance by the TSX Venture Exchange. The Shares and the Warrants, including those issued in satisfaction of the finder’s fee, are subject to a hold period expiring on January 26, 2020, in accordance with applicable Canadian securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities mentioned in this news release have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold within the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

Renaissance continues to make progress on its journey to become a major Mexican energy producer.

Social Investment Program
Renaissance and Lukoil have initiated a Social Investment Program for the communities within the Amatitlán block.  Engineering and infrastructure improvement projects have been defined and are expected to be completed in the next 6-8 months.  The C$660,000 budget for the Social Investment Program will be shared by the partners of Amatitlán.

Renaissance continues to make progress on its journey to become a major Mexican energy producer.