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*Adira Energy Ltd. 
Listed Company 

TSX VENTURE COMPANIES:

ADIRA ENERGY LTD. ("ADL")
BULLETIN TYPE: Consolidation
BULLETIN DATE: September 30, 2014
TSX Venture Tier 2 Company

Pursuant to a resolution passed by shareholders August 12, 2014, the Company has consolidated its capital on the basis of (5) five existing common shares for (1) one new common share. The name of the Company has not been changed.

Effective at the opening on Wednesday, October 1, 2014, the common shares of Adira Energy Ltd. will commence trading on TSX Venture Exchange on a consolidated basis. The Company is classified as an 'Oil and Gas Exploration' company.

Post - Consolidation
Capitalization: Unlimited shares with no par value of which
12,292,021 shares are issued and outstanding
Escrow: 0 shares

Transfer Agent: Computershare Investor Services Inc.
Trading Symbol: ADL (UNCHANGED)
CUSIP Number: 00687U707 (NEW)
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