Granite Oil Corp. Announces Director Resignation and Monthly Dividend for September, 2017

CALGARY, Alberta, Sept. 12, 2017 -- Granite Oil Corp. (“Granite” or the “Company”) (TSX:GXO) (OTCQX:GXOCF) announced today that Dennis Nerland has retired as a director of the Company effective September 12, 2017. Mr. Nerland has served as a Director since 2009. Mr. Nerland was instrumental in taking the Company (then called DeeThree Exploration Ltd.) public in 2009 and was Chair of the Audit Committee through 2016.  The Company would like to thank Mr. Nerland for his significant contributions to Granite and wish him every success in his future endeavors.

The Company’s Board of Director is now comprised of Brendan Carrigy (Chair), Michael Kabanuk (Chief Executive Officer), Kevin Andrus, Martin Cheyne, Henry Hamm, Brad Porter and Kathy Turgeon.

September Dividend

Granite will pay a dividend of 3.5 cents per common share in cash on October 16, 2017, to shareholders of record on September 29, 2017. This dividend has been designated as an eligible dividend for Canadian income tax purposes.

Contact Information

For further information, please contact Michael Kabanuk, President & CEO by telephone at (587) 349-9123