Taipan Changes its Name to Molori Energy Inc.

VANCOUVER, BC / ACCESSWIRE / January 5, 2017 / Taipan Resources Inc. (TSX-V: TPN) (OTC PINK: TAIPF) is pleased to announce that it has changed its name to “Molori Energy Inc.”(“Molori” or “the Company”). As the Company advances its business model in oil and gas production in Texas, the core business has shifted from oil and gas exploration to oil and gas production. Management believes our new name better reflects the core business activities of the company.

Effective at the opening of the market on January 6, 2017, the common shares of Molori Energy Inc. will trade on the TSX Venture Exchange under the symbol “MOL”. The CUSIP number assigned to the Company’s shares following the name change is 60870N100.

About Taipan

Taipan Resources Inc. is in the business of consolidating producing oil and gas asset blocks in stable hydro carbon producing regions. Taipan has a 25% working interest in 57 oil and gas leases owned by Ponderosa Engergy, LLC. These leases cover 7,314 acres, and are located in the bifurcated Texas Panhandle. Through its subsidiary “Lion Petroleum Corp.”, Taipan also has a 20% non-operated interest in Block 1 and a 100% operated-interest in Block 2B onshore Kenya.

Contact Information:

Joel Dumaresq
CEO and Director
Taipan Resources Inc.
(604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEW RELEASE.

Cautionary Notes Regarding Forward Looking Statements

This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

SOURCE: Taipan Resources Inc.

ReleaseID: 452252