PFI Canamax Energy Ltd.

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA) 

Petroforte International Ltd. ("Petroforte" or the "Corporation") (TSX
VENTURE:PFI) is pleased to announce that the terms and conditions of its
previously announced non-brokered private placement offering (the "Offering")
have been revised. The Offering is now expected to close in one or more tranches
on or before January 23, 2014, or such other earlier or later date as the
Corporation determines and the TSX Venture Exchange (the "Exchange") allows. The
Offering consists of up to 75,000,000 equity units (the "Units") at a price of
$0.20 per Unit, each Unit consisting of one (1) common share of the Corporation
and one half (1/2) of one common share purchase warrant (a "Warrant"). Each
Warrant entitles the holder thereof to purchase one (1) common share of the
Corporation at $0.40 per share for a period commencing on the date of the
issuance of the Warrant and ending on March 31, 2016. As a condition of the
Offering, the Corporation will undertake to use its best efforts to list the
Warrants in accordance with the terms and conditions of the Offering, subject to
approval from the Exchange and applicable securities laws.


The net proceeds from the Offering will be used to fund any, all or any
combination, of the following activities: (a) drilling of the Corporation's
earning farm-in Cardium horizontal well at its Wapiti property for an
anticipated cost of $3.0 million; (b) re-completion of the 2-5 well and
installation of gas compression at the Corporation's Brazeau River property for
an anticipated cost of $0.75 million; (c) drilling, equipping and tying in three
producing wells and one water disposal well and re-activation of three
productive Montney wells at the Corporation's Flood property for an anticipated
cost of $4.0 million; and (d) general working capital purposes.


The Offering is subject to approval by the Exchange. All securities issued in
connection with the Offering will be subject to a four-month hold period. The
Corporation has agreed to pay finders cash fees equal to up to 7% of the gross
proceeds of the Offering, in accordance with the policies of the Exchange.


Share Consolidation

Petroforte previously announced a proposed consolidation of its share capital on
the basis of one (1) new common share of the Corporation for every six (6)
existing common shares (the "Consolidation). Petroforte expects the
Consolidation to be completed on January 30, 2014, or such other earlier or
later date as the Corporation determines and that the Exchange allows.
Completion of the Consolidation remains subject to approval by Petroforte's
shareholders at the upcoming Annual and Special Meeting scheduled to be held on
Tuesday, December 17, 2013 and approval by the Exchange. 


About Petroforte

Petroforte is a junior oil and gas company headquartered in Calgary, Alberta
engaged in the exploration, development and production of hydrocarbons within
Alberta and Saskatchewan.


Forward-Looking Statements

This press release contains forward-looking statements relating to the
completion of the Offering on the terms set forth herein, the anticipated
closing date of the Offering, the use of proceeds from the Offering,
Petroforte's intentions to develop its Brazeau River, Flood and Wapiti oil and
gas properties and subsequent drilling programs, and completion of the
Consolidation. Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the plans,
intentions or expectations upon which they are based will occur. By their
nature, forward-looking statements involve numerous assumptions, known and
unknown risks and uncertainties, both general and specific, that contribute to
the possibility that the predictions, estimates, forecasts, projections and
other forward-looking statements will not occur, which may cause actual
performance and results in future periods to differ materially from any
estimates or projections of future performance or results expressed or implied
by such forward-looking statements. These assumptions, risks and uncertainties
include, among other things, the state of the economy in general and capital
markets in particular; fluctuations in oil prices; the results of exploration
and development drilling; the uncertainty of reserve estimates; changes in
environmental and other regulations; risks associated with oil and gas
operations and future exploration activities; and other factors, many of which
are beyond the control of the Corporation. You can find an additional discussion
of those assumptions, risks and uncertainties in Petroforte's Canadian
securities filings. 


The forward-looking statements contained in this press release are made as of
the date of this press release. Except as required by law, Petroforte disclaims
any intention and assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
Additionally, Petroforte undertakes no obligation to comment on the expectations
of, or statements made by, third parties in respect of the matters discussed
above.


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


This press release does not constitute and the subject matter hereof is not, an
offer for sale or a solicitation of an offer to buy, in the United States or to
any "U.S. Person" (as such term is defined in Regulation S under the U.S.
Securities Act of 1933, as amended (the "1933 Act")) of any equity or other
securities of the Corporation. The securities of the Corporation to be issued in
connection with the Revised Offering have not been registered under the 1933 Act
and may not be offered or sold in the United States (or to a U.S. Person) absent
registration under the 1933 Act or an applicable exemption from the registration
requirements of the 1933 Act. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Petroforte International Ltd.
Harry
Chairman
(604) 724-3212


Petroforte International Ltd.
Allan King
President, CEO & Director
(587) 779-4259

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