TOURMALINE ANNOUNCES SIGNIFICANT MULTIPLE CHARITABLE DONATIONS BY ITS CEO

Tourmaline Oil Corp. (TSX - TOU) ("Tourmaline") is pleased to announce that its President and Chief Executive Officer, Michael Rose, is donating a total of $26 million to multiple ongoing charitable initiatives supporting youth education, health, and sports and include:


CALGARY, June 20, 2017 /CNW/ - Tourmaline Oil Corp. (TSX - TOU) ("Tourmaline") is pleased to announce that its President and Chief Executive Officer, Michael Rose, is donating a total of $26 million to multiple ongoing charitable initiatives supporting youth education, health, and sports and include:

The construction of the funded projects at Strathcona-Tweedsmuir School, Queen's University, University of British Columbia and the University of Calgary is well underway and expected to be largely completed in 2017. These charitable projects supported by Mr. Rose and spouse, Susan Riddell Rose, will be personally funded by Mr. Rose from the sale or donation of approximately 7.5% of his current total shareholdings of over 13 million shares. Once these trades are settled, Mr. Rose will own approximately 12.1 million common shares, representing approximately 4.5% of Tourmaline's total outstanding shares on a non-diluted basis. Tourmaline was advised by Mr. Rose that his decision to sell a portion of his common shares in Tourmaline was made for the purposes of funding these various charitable initiatives and that he is not planning any further Tourmaline stock sales at this time.

About Tourmaline Oil Corp.

Tourmaline is a Canadian senior crude oil and natural gas exploration and production company focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin.

SOURCE Tourmaline Oil Corp.

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Michael Rose:
Corp: A corporation is a separate legal entity that has been incorporated through a legislative or registration process established through legislation. Incorporated entities have legal rights and liabilities that are distinct from their employees and shareholders, and may conduct business as either a pro
Chief Executive: A Chief Executive Officer is the highest-ranking corporate officer or administrator in charge of total management of an organization. An individual appointed as a CEO of a corporation, company, organization, or agency typically reports to the board of directors. In British English, terms often use
Chief Executive Officer: A Chief Executive Officer is the highest-ranking corporate officer or administrator in charge of total management of an organization. An individual appointed as a CEO of a corporation, company, organization, or agency typically reports to the board of directors. In British English, terms often use