Sea Breeze Power : Creditors Vote in Favour of Restructuring Proposal for Sea Breeze Power Corp

SEA BREEZE POW ER CO RP.

NEWS RELEASE

CREDITORS VOTE IN FAVOUR OF RESTRUCTURING PROPOSAL FOR SEA BREEZE POWER CORP

January 18, 2017 TSX-VENTURE: SBX.V

On December 30, 2016 (the "Filing Date") Sea Breeze Power Corp. and one of its wholly-owned subsidiaries, Sea Breeze Energy Inc. (together, "Sea Breeze" or the "Company"), filed a joint proposal to their creditors (the "Proposal") for restructuring purposes under the Bankruptcy and Insolvency Act (the "BIA").

A meeting of the Company's creditors was held at 10:00 a.m. on January 18, 2017 at the offices of Fasken Martineau DuMoulin LLP for the purpose of voting on whether to approve the Proposal. The Proposal was unanimously approved by the voting creditors and an application will now be made to the Supreme Court of British Columbia ("Court") for Court approval of the Proposal. If approved by the Court, upon the implementation of the Proposal, among other things, all existing securities, shares and warrants of Sea Breeze Power Corp. will be cancelled.

Alvarez & Marsal Canada Inc. (the "Proposal Trustee") is the proposal trustee appointed under the Proposal. Information concerning the Company's restructuring and the Proposal can be found on the Proposal Trustee's website at: www.alvarezandmarsal.com/seabreeze, and any inquiries may be directed to the Proposal Trustee.

Sea Breeze Power Corp. is a Vancouver-based renewable energy company focused on the development of utility-scale wind farms, "run-of-river" hydroelectric projects, and through a joint venture, the development of electricity transmission projects.

ON BEHALF OF THE BOARD OF DIRECTORS

"Resja Campfens"

per: Resja Campfens, President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.