Seymour Schulich acquires 14.7% of Pengrowth Energy Corporation

TORONTO, March 23, 2016 /CNW/ - Seymour Schulich, through his holding company, Nevada Capital Corporation Ltd. 20 Eglinton Avenue West, Suite 1900, Toronto, Ontario, M4R 1K8, announced today that, on March 18, 2016, he acquired, through open market purchases, 26,000,000 common shares and now owns 70,000,000 common shares of Pengrowth Energy Corporation (TSX:PGF).  The Schulich Foundation, an affiliate of Mr. Schulich, owns an additional 10,000,000 shares.  In total, 80,000,000 shares are owned or controlled by Seymour Schulich.

Mr. Schulich's current shareholdings represent 14.7% of the current issued and outstanding common shares of Pengrowth.  Mr. Schulich further advises that the shares have been acquired for investment purposes at this time.

SOURCE Seymour Schulich

Seymour Schulich, 416-480-6483