Jeffrey J. Scott Advises of Change in Security Holdings

TSX-V: ONV

VANCOUVER, June 8, 2018 /CNW/ - Oronova Energy Inc. ("Oronova" or the "Company") (TSX.V: ONV) has been advised of recent transactions by Jeffrey J. Scott and his related entities pursuant to the early warning requirements of applicable securities laws in Canada with respect to his security holdings in the Company.

Pursuant to a private transaction, Darringer Enterprises Ltd., a company owned and controlled by Jeffrey J. Scott acquired 700,000 common shares of the Company.

Prior to this transaction, Mr. Scott held, directly and indirectly and exercised control over, an aggregate of 5,750,000 common shares representing 17.11% of the issued and outstanding shares of the Company and would have held, directly and indirectly and exercised control over, 6,250,000 common shares representing 18.33% of the issued and outstanding shares of the Company on a partially diluted basis assuming the exercise of 500,000 stock options.  Immediately after this transaction, Mr. Scott holds, directly and indirectly and exercises control over, an aggregate of 6,450,000 common shares representing 19.19% of the issued and outstanding common shares of the Company and would hold, directly and indirectly and exercise control over, 6,950,000 common shares representing 20.38% of the issued and outstanding shares of the Company on a partially diluted basis assuming the exercise of 500,000 stock options.

Mr. Scott and his related entities acquired these securities for investment purposes and, as disclosed in the Early Warning Report filed on SEDAR, Mr. Scott and his related entities may, in the future, acquire or dispose of securities of the Company through the market, privately or otherwise, as circumstances or market conditions warrant.

For additional information, or for a copy of the Early Warning Report filed in respect of the above transaction, please contact the Corporate Secretary of the Company at (604) 609-6125.

On behalf of the Board of Oronova Energy Inc.

"David Farrell"

Chief Executive Officer

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

SOURCE Oronova Energy Inc.

View original content: http://www.newswire.ca/en/releases/archive/June2018/08/c2584.html