William F. White Announces That He Acquires Common Shares of Peat Resources Limited

TORONTO, March 2, 2018 /CNW/ - This news release is disseminated pursuant to National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") regarding the holdings William F. White (the "Acquiror"). The Acquiror has acquired beneficial ownership or control over 18,107,160 common shares ("Shares") of Peat Resources Limited with head offices at 365 Bay Street, Suite 400, Toronto, ON, M5H 2V1 (the "Company" or "Peat") through a shares for debt settlement among the Acquiror and other non-related creditors of the Company on March 2, 2018 (the "Debt Settlement").

The aggregate number Shares over which the Acquiror acquired ownership amounts to 17.31% of the issued and outstanding Shares of the Company.

The Acquiror previously owned 6,981,390 Shares, which represented 5.59% of the issued and outstanding Shares of the Company. Following closing of the Debt Settlement, the Acquiror owns 25,088,550 Shares, which represent 17.31% of the issued and outstanding Shares of the Company, which is an increase of 11.72%.

As part of the Debt Settlement among the Acquiror and other non-related creditors of the Company, the Acquiror converted $905,358 in debt in exchange for 18,107,160 Shares issued to the Acquiror at a price of $0.05 per share.

The Acquiror and the joint actors have previously acquired the securities in the Company for investment purposes and from time to time the Acquiror and any of the joint actors may: (i) acquire additional securities of the Company, (ii) dispose of some or all of the existing or additional securities they hold or may hold or (iii) they may continue to hold their current position.

The issuance of this press release is not an admission that an entity named herein owns or controls any securities described herein or is a joint actor with any other person or company named in the early warning report referred to in this press release.

To obtain a copy of the Early Warning Report filed in connection with this matter, please contact William F. White at [email protected]. A copy of the Early Warning Report will be filed on Peat's profile on SEDAR at www.sedar.com.

SOURCE William F. White