Frontera Announces an Amendment to the Terms of the Proposed Amended and Restated Shareholder Rights Plan Agreement

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May 16, 2019, 16:30 ET

TORONTO, May 16, 2019 /PRNewswire/ - Frontera Energy Corporation (TSX: FEC) ("Frontera" or the "Company"), today announced it has made an amendment to the terms of the proposed amended and restated shareholder rights plan agreement (the "Plan") to be presented for approval at the annual and special meeting of Shareholders of the Company scheduled to be held on May 29, 2019.

The Company has amended the definition of "Independent Shareholders" in the Plan to clarify that any Person who pursuant to the definition of "Beneficial Owner" is not deemed to Beneficially Own the Voting Shares of the Company held by such Person is not excluded from the definition of "Independent Shareholders".

The amendment was made in response to a report issued by Institutional Shareholder Services Inc., a proxy voting advisory and corporate governance services firm.

The revised version of the amended and restated Plan will be available on the Company's website at www.fronteraenergy.ca and on SEDAR at www.sedar.com.

About Frontera:

Frontera Energy Corporation is a Canadian public company and a leading explorer and producer of crude oil and natural gas, with operations focused in South America. The Company has a diversified portfolio of assets with interests in more than 30 exploration and production blocks. The Company's strategy is focused on sustainable growth in production and reserves. Frontera is committed to conducting business safely, in a socially and environmentally responsible manner. Frontera's common shares trade on the Toronto Stock Exchange under the ticker symbol "FEC".

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SOURCE Frontera Energy Corporation