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 shar es. 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.