TORONTO, ONTARIO--(Marketwired - Oct 13, 2015) - Peat Resources Limited (the "Company") (TSX VENTURE:PET) announces that it has engaged IBK Capital Corp. ("IBK") to complete a best efforts private placement of 17,500,000 common shares at $0.01 per share for proceeds of $175,000. IBK will be paid a cash commission of 9% of the amount raised and 10% of the amount raised in broker warrants. Each broker warrant entitles the holder to purchase one common share and is exercisable for five years at $0.05 per share.

The terms of the private placement are according to the TSX Venture Exchange ("Exchange") Discretionary Waivers of $0.05 Minimum Pricing Requirement Bulletin dated April 7, 2014 and are subject to Exchange approval.

The funds from the private placement will be used for the following working capital requirements:

Peat Resources Limited is a Toronto-based alternative energy company that was formed to develop and produce a sustainable peat fuel.

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review registered filings at www.sedar.com.

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