Windfire Provides Shareholder Update
2000 - 1177 West Hastings Street │Vancouver, BC │V6E 2K3
NEX: WIF.H
WINDFIRE PROVIDES SHAREHOLDER UPDATE
January 2, 2017 - Windfire Capital Corp. (WIF.H:NEX) (“ Windfire”) is pleased to provide an
update on the previously announced transa ction between Windfire and DMiner Asset
Management Company Inc. (the vendor) whereby Windfire has agreed to acquire 91.5 per cent
of the common shares of Riviera Mina Ltd. (Riv iera) from the vendor (see news release dated
October 11, 2017).
Windfire, the vendor, and Riviera continue to make substantial progress towards obtaining the
required documentation and approvals required to meet the regulatory requirements to complete
the transaction. To date, the Company has obta ined updated audited financial statements from
the related Bahamian and Namibian entities, obtained preliminary title opinions in relation to the
license, ensured the Petroleum Exploration Lice nse and MME licenses are in good standing,
obtained a technical report which the exchange has approved, and has commenced discussions
with institutional investors to participate in the offering.
Mr. Walt Luke states “We are encouraged by th e progress we’ve made towards completing the
transaction and as we draw closer to a closing we are further encouraged by the increase in
activity evidenced by recent farm-in agreements being announced within the Orange basin of
Namibia.”
Riviera indirectly owns a 76.5-per-cent interest in petroleum exploration licence No. 0079, dated
July 10, 2015, in relation to blocks 2815 and 2915, offshore Namibia. The blocks have drill-ready
oil and gas exploration targets on them and are located in the Orange basin of Namibia. The
balance of the interest in the license is held by Namibia's national oil company, Namcor, and local
Namibian partners.
Windfire expects to apply for conditional appr oval from the TSX Venture Exchange in early
January 2018 and anticipates closing of the transaction by February 15, 2018.
Completion of the Transaction is subject to a number of conditions, including Exchange acceptance. There
can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with
the Transaction, any information released or received wi th respect to the Transaction may not be accurate
or complete and should not be relied upon. Trading in the securities of Windfire should be considered highly
speculative.
The TSX Venture Exchange has in no way passed upon the merits of the proposed Transaction and has
neither approved nor disapproved the contents of this press release.
To find out more about Windfire, please contact investor relations by phone at 604-669-2191 or e-
mail [email protected]. You may also visit the website at www.windfirecapital.com.
Windfire Capital Corp.
2000 - 1177 West Hastings Street │Vancouver, BC │V6E 2K3
NEX: WIF.H
“Walt Luke”
President and CEO
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.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of
management regarding the Transaction. Forward-looking statements consist of statements that are not
purely historical, including any statements regarding be liefs, plans, expectations or intentions regarding
the future. Forward-looking statements in this ne ws release include statemen ts regarding the proposed
consideration of the Transaction, the expected timing of completion of the Transaction, the exploration and
development potential of the Blocks, and the potent ial benefits of the Transaction for Windfire and its
shareholders. Such statements are subject to risks an d uncertainties that may cause actual results,
performance or developments to differ materially from those contained in the statements. No assurance can
be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur,
what benefits Windfire will obtain from them. These forward-looking statemen ts reflect management’s
current views and are based on certain expectations , estimates and assumptions which may prove to be
incorrect. A number of risks and uncertainties could cause actual results to differ materially from those
expressed or implied by the forward-looking statements , including: the occurrence of any events that
prevent the parties from satisfying the conditions to Closing; failure to obtain Exchange approval for the
Transaction; failure to complete the concurrent finan cing; risks related to operating in Namibia; risks
related to the oil and gas industry generally; and ot her factors beyond Windfire’s control. These forward-
looking statements are made as of the date of this news release and Windfire assumes no obligation to update
these forward-looking statements, or to update the reasons why actual results differed from those projected
in the forward-looking statements, except in accordance with applicable securities laws.