CANEX Announces CFO Appointment and Corporate Update

CANEX ENERGY CORP. #1305 - 1090 West Georgia Street Vancouver, BC V6E 3V7 Tel: 604-685-9316 Fax: 604-683-1585 www.canexenergy.com

TSX VENTURE SYMBOL: CSC JANUARY 9th, 2017

CANEX ANNOUNCES CFO APPOINTMENT AND CORPORATE UPDATE

CANEX ENERGY CORP. ("Canex" or the “Company") (TSX Venture: CSC) Mr. Sherman Dahl announces that Mr. Nick DeMare has been appointed CFO of the Company. Mr. DeMare, CPA, CA is currently a director and Corporate Secretary of the Company. The Board thanks former CFO Mr. Cheung for his services to the Company as CFO.

Since appointment in July 2016 new management has focussed on resolving all historical issues and now enters 2017 with all corporate matters resolved and with the view to advance acquisition opportunities. New management has been reviewing numerous acquisition opportunities and is assessing what additional corporate restructuring is required in order to take advantage of several acquisition opportunities. When such decisions are made further news will be forthcoming.

ON BEHALF OF THE BOARD

“Sherman Dahl ”

Sherman Dahl , President & CEO Tel: 604-685-9316

Neither 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.