TOSCANA ENERGY CONFIRMS NOVEMBER DIVIDEND

CALGARY, Nov. 22, 2012 /CNW/ – Toscana Energy Income Corporation (“Toscana Energy” or the “Company”) (TSX Venture: TEI) confirms that the cash dividend of $0.135 per common share (or the equivalent of $0.405 per common share on a quarterly basis) to be paid on December 17, 2012 in respect of November 2012 production of the Company for shareholders of record on November 30, 2012.  The ex-dividend date is November 28, 2012.  Once paid, total cash dividends distributed by the Company to its shareholders during the 2012 calendar year will be approximately $1.60 per common share.

About Toscana Energy Income Corporation

Toscana Energy Income Corporation is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets including royalties, non-operated working interests and unitized production for yield and capital appreciation. Toscana Energy Income Corporation is managed by Sprott Toscana through Toscana Energy Corporation. Sprott Toscana is a member of the Sprott Group of Companies.

About Sprott Toscana

Sprott Toscana (formerly Toscana Merchant Group) is a team of Calgary-based energy specialists that manage three separate businesses: Toscana Energy Income Corporation (through Toscana Energy Corporation), Toscana Financial Income Trust and Maple Leaf Energy Income LPs. In July 2012, Toscana Merchant Group joined the Sprott Group of Companies when it was acquired by Sprott Inc. (TSX: SII), Canada’s leading alternative asset manager and a global leader in resource investing.

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 release.

SOURCE: Toscana Energy Income Corporation