Distinction Energy Corp. (“Distinction” or the “Company”) announced that it has closed, together with Kiwetinohk Resources Corp. (“Kiwetinohk”), the previously announced $335 million acquisition (including $15 million in potential contingent payments based on future commodity prices) of certain interests in the Simonette area of northwest Alberta (the “Acquisition”). In connection with the closing of the Acquisition, and pursuant to a settlement agreement (the “Settlement Agreement”) entered into on February 17, 2021, among Luminus Energy IE Designated Activity Company (“Luminus Energy”), 1266580 B.C. Ltd. (an affiliate of Luminus Energy) (“Luminus B.C.”), Kiwetinohk, the Company and Distinction Energy Partnership (“DEP”), Messrs. P. Eric Gallie and Shawn Singh resigned from the board of directors of the Company and were replaced with Messrs. Glenn Koach and Steven Sinclair.