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Prospera Energy Inc. Completes Canadian Business Journal’s Petrolia Acquisition

Calgary, Alberta, September 21, 2022 (GLOBE NEWSWIRE) — Prospera Energy Co., Ltd. (PEI): TSX: PEI-V; OTC (United States): GXRFF; FRA (Germany): OF6A

Prospera Energy Co., Ltd. (“prospera” or “Ltd.“) would like to provide details regarding its recent property acquisitions. In addition to the Corporation’s press release dated July 21, 2022, Prospera has entered into an agreement to acquire the aforementioned debt settlement and business profit .

Pursuant to a separate debt settlement agreement dated February 16, 2022, the Company has settled approximately $1,700,000 of debt owed by joint venture partner Petrolia Canada Corporation to a 13.423% undivided interest in Cuthbert, Looseland and Harts Hill. I got Properties in Saskatchewan and Alberta ( property). The company also agreed to purchase his 14.577% operating interest on the remainder of Petrolia for his $585,000. The transaction will be paid for $75,000 in cash and $510,000 through the issuance of convertible notes, pursuant to a sales and subscription agreement dated January 27, 2022. As a result of the transaction, Prospera owns a total undivided operating right of 69% in Cuthbert and 84% in Luseland and Hearts Hills.

The convertible notes are convertible into common stock units at the option of the holder for $0.05 in the first year and $0.10 in the second year, bear interest at 8% per annum, and have a term of two years. Each unit consists of one share of common stock and one warrant, exercisable for two years from issuance at $0.075. This is subject to our right to advance the expiry date if our common stock trades at his $0.30 for 20 consecutive days. Applicable interest will be paid in cash or shares at the then-current market price, at the Company’s option.

About Prospera

Prospera is a Canadian natural resources company with operations in Alberta and western Saskatchewan, acquiring, exploring, developing and producing oil and gas assets.

For more information, please contact:

Sean Mailer, PR
Email: [email protected]
Website: www.prosperaenergy.com

Forward-Looking Statements

This news release contains forward-looking statements regarding our future business and other statements that are not historical facts. Forward-looking statements are often identified by words such as “will,” “may,” “should,” “anticipate,” “expect,” or similar expressions . All statements other than statements of historical fact contained in this release, including without limitation statements regarding our future plans and objectives, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events may differ materially from those projected in such statements.

Although Prospera believes that the expectations and assumptions on which its forward-looking statements are based are reasonable, Prospera cannot give any assurance that the forward-looking statements can be proved to be correct. Undue reliance should not be placed on statements regarding Forward-looking statements address future events or circumstances and, therefore, are inherently subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the general oil and gas industry (e.g., operational risks in development, exploration, and production; risks associated with exploration or development projects or capital expenditures; reserves estimates; uncertainties in estimates and forecasts regarding production, costs and expenses, and health, safety and environmental risks); fluctuations in commodity prices and exchange rates; uncertainty due to potential delays or changes, or capital expenditure;

Readers are cautioned that the assumptions used in preparing forward-looking information may prove to be incorrect. Actual results could differ materially from those projected as a result of a number of known and unknown risks, uncertainties and other factors, many of which are beyond Prospera’s control. increase. As a result, Prospera cannot guarantee that the forward-looking statements will be realized. Readers are cautioned not to place undue reliance on forward-looking information. Although such information was believed to be reasonable by management at the time it was prepared, it may prove to be inaccurate and actual results may differ materially from expectations. Any forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Prospera does not make any forward-looking statements contained, whether as a result of new information or otherwise. does not undertake any obligation to publicly update or revise the , future events, or otherwise. except where expressly required by Canadian securities laws.


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Prospera Energy Inc. Completes Canadian Business Journal’s Petrolia Acquisition

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