CANEX Announces Proposed Share Consolidation

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 26th, 2017

CANEX ANNOUNCES PROPOSED SHARE CONSOLIDATION

CANEX ENERGY CORP. ("Canex" or the “Company") (TSX Venture: CSC) - Mr. Sherman Dahl announces that, further to the Company’s news release dated January 9, 2017, the Board of Directors of the Company has approved an alteration to the Company's share structure by consolidating all of the Company’s issued and outstanding common shares on the basis of five (5) old common shares for one

(1) new common share. The share consolidation will reduce the 10,906,080 shares of the Company currently issued and outstanding to approximately 2,181,216 shares. No fractional shares will be issued. Any fraction of a share will be rounded down to the nearest whole number of common shares. The share consolidation is subject to shareholder and TSX Venture Exchange approval. The Company will seek shareholder approval at the Annual and Special Meeting to be held on March 22, 2017.

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.