/EINPresswire.com/ -- CALGARY, ALBERTA -- (Marketwired) -- 06/28/16 -- Arsenal Energy Inc. ("Arsenal" or the "Corporation") (TSX: AEI)(OTC PINK: AEYIF) announces that it has closed its two previously announced property sales (approximately 450 boe/d of production) for total gross proceeds of $11.5 million. The proceeds were used to eliminate the Corporation's bank indebtedness under its credit facility.

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Contacts:
Arsenal Energy Inc.
Tony van Winkoop
President and Chief Executive Officer

Arsenal Energy Inc.
J. Paul Lawrence
Vice President, Finance and Chief Financial Officer
(403) 262-4854
(403)-265-6877 (FAX)
ir@arsenalenergy.com

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