Cuda Oil and Gas Inc. Announces the Closing of the Sale of its Quebec Assets for a Total Transaction Value of $10.59 Million

Calgary, Alberta: September 4, 2019 – Cuda Oil and Gas Inc. (“Cuda” or the “Company”) (TSXV: CUDA) is pleased to announce that it has closed Asset Purchase Agreements (the “APAs”) to sell all of its oil and gas assets and related liabilities located in the Province of Quebec (“Quebec”) at a total transaction value of CAD $10.59 million, including cash consideration at closing of CAD $4.29 million, to arm’s-length purchasers (the “Transaction”).