Exchange Bulletin

Gordon Creek Energy Inc. (GDN.DB) To Trade On Toronto Stock Exchange


July 10, 2014

GORDON CREEK ENERGY INC. ("GDN.DB")
BULLETIN TYPE: New Listing-Debentures
BULLETIN DATE: July 9, 2014
TSX Venture Tier 2 Company

Effective at the opening, Thursday, July 10, 2014, the Gas Linked Participating Debentures of the Company will re-commence trading on TSX Venture Exchange. The Company is classified as a 'Conventional Oil and Gas Extraction' company. The Gas Linked Participating Debentures of the Company will not trade on an accrued interest basis.

Corporate Jurisdiction: Canada Business Corporation Act

Capitalization: $10,000,000 Debentures are issued and outstanding

Transfer Agent: Computershare Trust Company of Canada
Trading Symbol: GDN.DB
CUSIP Number: 382735AA6

Details of the Debentures:

Terms: The Debentures are due October 31, 2014.

Redemption: The Debentures may be redeemed, at the option of the company, in whole or in part, upon not less than 15 days prior written notice to the debentureholders.

Interest: The Debenture will bear interest at a base rate of 15% per annum. The interest rate has quarterly rate adjustments whereby the interest rate payable will be increased by 1% for each $0.50 increase in the average price of natural gas (Henry Hub) above $5.00, subject to a maximum of 25%. Interest is calculated daily and paid quarterly in arrears within 10 business days following the Company's fiscal quarters ended April 30, July 31, October 31 and January 31 of each year commencing January 31, 2011.

50% of the interest due each quarter will be paid in cash and 50% will be paid in shares at a deemed price of the greater of (i) a 10% discount to the volume weighted average trading price of the Company's shares on the TSX Venture Exchange over the quarter immediately preceding the quarterly interest payment date; and (ii) the Discounted Market Price of the Company's shares on the Interest Calculation Date.

Clearing and Settlement: The Debentures will clear and settle through CDS and DTC.

Board Lot: The Debentures will trade in a board lot size of $100 face value.