Knowlton Capital provides update on reverse take-over with Leni Gas Cuba Limited

MONTREAL, June 9, 2016 /CNW Telbec/ - Knowlton Capital Inc. ("Knowlton") (TSX-V: KWC‑H) is pleased to announce, in connection with the previously-announced reverse take-over of Knowlton by Leni Gas Cuba Limited ("LGC"), that LGC has obtained an interim order from the British Virgin Islands High Court allowing LGC to convene a meeting of LGC shareholders to vote on a scheme of arrangement to effect the reverse take-over. The meeting of LGC shareholders will be held in London, England on July 1, 2016.

Knowlton expects to mail shortly a management information circular for an annual and special meeting of shareholders to be held on July 6, 2016, at which Knowlton shareholders will vote on the reverse take-over with LGC and related matters. A copy of Knowlton's circular will also be available on SEDAR at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Completion of the reverse take-over between Knowlton and LGC is subject to a number of conditions, including TSX Venture Exchange acceptance and disinterested shareholder approval.  The reverse take-over cannot close until the required shareholder approval is obtained.  There can be no assurance that the reverse take-over will be completed as proposed or at all.  Investors are cautioned that, except as disclosed in Knowlton's management information circular to be prepared in connection with the reverse take-over, any information released or received with respect to the reverse take-over may not be accurate or complete and should not be relied upon.  Trading in the securities of Knowlton should be considered highly speculative.

SOURCE Knowlton Capital

Rafi Hazan, Chief Financial Officer, Knowlton Capital Inc., Tel: [phone]