Not for distribution to U.S. Newswire Services or for dissemination in the
United States of America. Any failure to comply with this restriction may
constitute a violation of U.S. Securities laws.


Crowsnest Acquisition Corp. (TSX VENTURE:CAW.P) (the "Corporation" or
"Crowsnest"), a "capital pool company", as such term is defined in the policies
of the TSX Venture Exchange ("Exchange"), announces further to its news release
of March 13, 2014, that its engagement with Global Securities Corporation
("Global") as lead agent with respect to the private placement financing to be
completed in connection with the Corporation's proposed "Qualifying Transaction"
(as such term is defined in the policies of the Exchange) involving QE2
Acquisition Corp. ("QE2"), has been terminated effective March 26, 2014 by
mutual agreement. Crowsnest thanks Global for its efforts on its behalf. 


The Corporation expects to complete a private placement financing ("Private
Placement") in connection with the Qualifying Transaction. The Corporation is
currently in discussions to engage a potential agent and expects to execute an
engagement letter ("Engagement Letter") with an agent in connection with the
Private Placement shortly. Details of the Private Placement, the Engagement
Letter and any compensation payable to an agent in connection with the Private
Placement will be disclosed once the Engagement Letter has been executed, in a
subsequent press release.


Trading Halt

The Crowsnest Shares are currently halted from trading, and the trading of the
shares is expected to remain halted pending completion of the Qualifying
Transaction and the receipt and review of applicable documentation by the
Exchange. 


Additional Information

Completion of the Qualifying Transaction and the Private Placement is subject to
a number of conditions, including but not limited to, Exchange acceptance, and
if applicable pursuant to the requirements of the Exchange, majority of the
minority approval. There can be no assurance that the Qualifying Transaction
will be completed as proposed or at all. 


Investors are cautioned that, except as disclosed in the management information
circular or filing statement to be prepared in connection with the Qualifying
Transaction, any information released or received with respect to the Qualifying
Transaction may not be accurate or complete and should not be relied upon.
Trading in the securities of a capital pool company should be considered highly
speculative.


Cautionary Statements

This news release contains "forward-looking information" within the meaning of
applicable securities laws relating to the proposal to complete the Qualifying
Transaction and associated transactions, including statements regarding the
terms and conditions of the Qualifying Transaction, the Private Placement, and
the engagement of an agent for the Private Placement. Although the Corporation
believes in light of the experience of its officers and directors, current
conditions and expected future developments and other factors that have been
considered appropriate that the expectations reflected in this forward-looking
information are reasonable, undue reliance should not be placed on them because
the Corporation can give no assurance that they will prove to be correct.
Readers are cautioned to not place undue reliance on forward-looking
information. The terms and conditions of the Qualifying Transaction and the
Private Placement may change based on the Corporation's due diligence (which is
going to be limited as the Corporation intends largely to rely on the due
diligence of other parties of the Qualifying Transaction to contain its costs,
among other things) and the receipt of tax, corporate and securities law advice
for both Crowsnest and QE2. Actual results and developments may differ
materially from those contemplated by these statements depending on, among other
things, the risks that the parties will not proceed with the Qualifying
Transaction, the Private Placement and associated transactions, that the
ultimate terms of the Qualifying Transaction, the Private Placement, and
associated transactions will differ from those that currently are contemplated,
and that the Qualifying Transaction, the Private Placement, and associated
transactions will not be successfully completed for any reason (including the
failure to obtain the required approvals or clearances from regulatory
authorities). The statements in this press release are made as of the date of
this release. The Corporation undertakes no obligation to comment on analyses,
expectations or statements made by third-parties in respect of the Corporation,
QE2, their securities, or their respective financial or operating results (as
applicable).


Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as
that term is defined in the polices of the TSX Venture Exchange) has in any way
passed upon the merits of the Qualifying Transaction and associated transactions
and neither of the foregoing entities has in any way approved or disapproved of
the contents of this press release.


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
Crowsnest Acquisition Corp.
Gordon McCormack
(780) 465-4467
grmccormack@shaw.ca


QE2 Acquisition Corp.
Mike Belantis
CEO and Director
(403) 701-7299
mb@qe2corp.com