Arsenal and Lone Pine Securityholders Approve Business Combination

Calgary, Alberta – September 8, 2016 – Lone Pine Resources Canada Ltd. (“Lone Pine”) and Arsenal Energy Inc. (“Arsenal”) (TSX: AEI) (OTCQX: AEYIF) are pleased to jointly announce the approval by securityholders of Lone Pine and Arsenal of their previously-announced business combination by way of plan of arrangement (the “Arrangement”).  The approvals were obtained at…