Metropolitan Energy Corp. Announces Completion of Consolidation and Release of Funds from Private Placement

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

NEX Exchange Trading Symbol: MOE.H

VANCOUVER, March 30, 2018 /CNW/ - Metropolitan Energy Corp. (the "Company") is pleased to report that the previously announced consolidation (the "Consolidation") of its common shares on the basis of one (1) post-Consolidation common share for every ten (10) pre-Consolidation common shares has been completed effective March 29, 2018. In connection with the Consolidation, trading of the Company's pre-Consolidation shares has been halted and trading of the Company's common shares will commence on the NEX board of the TSX Venture Exchange (the "NEX") on the opening of April 4, 2018.

The Company is also pleased to announce that, concurrent with the effective date of the Consolidation, the net proceeds of the Company's previously announced non-brokered private placement (the "Private Placement") of units of the Company ("Units"), shall be released to the Company from trust and the Company shall be issuing the 10,000,000 Units to the respective subscribers thereof. Each Unit is comprised of one (1) common share in the capital of the Company and one transferable common share purchase warrant of the Company at a price of $0.25 per share expiring twelve (12) months from the date of issuance.  

The net proceeds of the Private Placement will be used for general working capital.

Pursuant to applicable securities laws, all securities issued pursuant to the Private Placement will be subject to a hold period of four months plus one day following the date of issuance of such securities.

Completion of the Private Placement is subject to final approval of the NEX.

 ON BEHALF OF THE BOARD OF DIRECTORS

"Jordan Shapiro - Director"

METROPOLITAN ENERGY CORP.

Forward-looking Information Cautionary Statement

This press release contains forward-looking statements. More particularly, this press release contains statements concerning the terms of the Private Placement. The forward-looking statements in this press release are based on certain expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with adverse market conditions, the NEX not approving the Private Placement. Forward-looking statements are based on estimates and opinions of management of the Company at the time the statements are presented. The Company may, as considered necessary in the circumstances, update or revise such forward-looking statements, whether as a result of new information, future events or otherwise, but the Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.

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.

SOURCE Metropolitan Energy Corp.

contact the company at 604.283.1722.