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Press release from Marketwire

Kallisto Seeks Capital

Friday, May 31, 2013

Kallisto Seeks Capital

16:19 EDT Friday, May 31, 2013

CALGARY, ALBERTA--(Marketwired - May 31, 2013) - Kallisto Energy Corp. (TSX VENTURE:KEC) ("Kallisto" or the "Company") is pleased to announce that it has entered into an agreement with Paradigm Capital Inc. ("Paradigm") pursuant to which Paradigm will act as the Company's financial advisor in seeking sources of funding to develop Kallisto's oil-focused properties. As announced earlier, Kallisto has multiple near-term drilling opportunities, including:

  • Elkton light oil at Crossfield, Alberta;
  • Cardium light oil at Minnehik, Alberta;
  • Shaunavon medium oil at Chambery, Saskatchewan; and
  • Doe Creek light oil at Valhalla, Alberta.

More information on the Company's drilling opportunities can be found in the updated corporate presentation on the Company's website at www.kallistoenergy.com.

Funding sources being considered include a public equity offering, a private placement of common shares, an acquisition by investors of all of the outstanding shares of the Company with the intention of taking the Company private or other potential sources of capital.

The Company is not establishing a data room, nor has the board of directors struck an independent committee. Paradigm is working with management to secure the desired funding.

Kallisto is a Calgary-based junior resource company engaged in the exploration, development, exploitation, production and acquisition of oil and natural gas, primarily in Alberta.

Forward Looking Information

The reader is advised that some of the information contained herein may constitute forward looking statements within the meaning assigned by National Instrument 51-102 and other relevant securities legislation. It includes, but is not limited to, statements with respect to the intent to secure funding for the Company's future drilling opportunities. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "scheduled", "potential", or other similar words, or statements that certain events or conditions "may", "should" or "could" occur. Forward-looking information is based on the Company's expectations regarding its future growth, results of operations, production, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, plans for and results of drilling activity, environmental matters, business prospects and opportunities. Such forward-looking information reflects management's current beliefs and assumptions and is based on information currently available to it. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect and readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Forward-looking information involves significant known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information including risks associated with the impact of general economic conditions, industry conditions, governmental regulation, volatility of commodity prices, currency fluctuations, imprecision of reserve and resource estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the Corporation's ability to access sufficient capital from internal and external sources. Additional risks and uncertainties are described in the Company's Annual Information Form dated April 30, 2013 which is filed on SEDAR at www.sedar.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

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.

Contact Information:
Kallisto Energy Corp.
Robyn Lore
President and Chief Executive Officer
(403) 237-9996
www.kallistoenergy.com

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