Prospera Energy Inc. Announcing Senior Leadership Appointments and Significant Financial Developments

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CALGARY, Alberta, Jan. 09, 2025 (GLOBE NEWSWIRE) — Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) (“Prospera“,”PEI” or “Organization“)

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Appointment of leadership
Prospera announces the appointment of Darren Jackson as Chief Operating Officer (COO) effective January 1^St2025. Darren will oversee the company’s day-to-day operations, strategic plans, regulatory compliance, platform development initiatives, and drive operational excellence. Darren brings over 25 years of experience in the oil and gas industry, providing a wealth of experience and a track record of proven leadership.

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Line of Credit
Prospera has completed the offering of its unsold unit, for a total profit of $900,000. Each unit, valued at $1,000 per unit, consists of: (i) a one-year secured promissory note with a principal amount of $1,000, bearing an annual interest rate of 12%, and (ii) warrants to purchase 5,000 common shares of the Corporation exercisable. at $0.05 for a period of three years. Subscribers are entitled to a gross overriding royalty (GORR) of 5% of every $1,000,000 of principal investment in revenues from all Prospera properties in excess of 1,363 barrels per day, calculated on a monthly basis until the principal loan is fully repaid. The GORR will be reviewed as an item used by the TSXV and is subject to TSXV approval. Interest on the notes will accrue and be paid quarterly, plus a 2% facility fee. Prospera intends to use the proceeds to improve production and general working capital. This offering is subject to acceptance by the TSX Venture Exchange.

Shares in debt
Prospera entered into a transaction settlement agreement with a key broker in the amount of $167,972 for the issuance of 3,359,434 common shares at a notional price of $0.05 per share. The issuance of these shares is subject to acceptance by the TSX Venture Exchange. The shares will be subject to a trading limit of four months and a day from the date of issue. This work is considered non-manual work.

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Warrant Amendments
Prospera announces amendments to the terms of the 15,330,000 warrants currently outstanding. The warrants will have their maturity date extended by one year from February 14^th2025, to February 14^th2026. Additionally, the exercise price per warrant will be reduced from $0.09 to $0.06. This adjustment improves leverage, allowing the company to raise investor capital to support significant costs in increasing production and related cash flow. The amended terms are subject to approval by the TSX Venture Exchange.

About Prospera
Prospera Energy Inc. is a publicly traded Canadian energy company focused on the exploration, development and production of crude oil and natural gas. Headquartered in Calgary, Alberta, Prospera is dedicated to maximizing recovery in legacy fields using safe and effective reservoir development and production processes. The company’s main properties are conveniently located in Saskatchewan and Alberta, including Cuthbert, Luseland, Hearts Hill, and Brooks. Prospera Energy Inc. is listed on the TSX Venture Exchange under the symbol PEI and the US OTC Market under the GXRFF.

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For More Information:

Shawn Mehler, PR
Email: investors@prosperaenergy.com

Chris Ludtke, CFO
Email: cludtke@prosperaenergy.com

Shubham Garg, Chairman of the Board
Email: sgarg@prosperaenergy.com

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements related to the Company’s future operations and other statements that are not historical facts. Forward-looking statements are often identified by words such as “will,” “may,” “should,” “anticipate,” “anticipate” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company’s 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 anticipated in such statements.

Although Prospera believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prospera can give no assurance that they will prove to be correct. Since forward-looking statements speak of future events and conditions, by their nature they involve inherent 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 oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans in relation to exploration or development projects or capital expenditures; uncertainties maintain estimates of uncertainties in estimates and assumptions related to production, costs and expenses, and health , security and environmental risks), commodity prices and exchange rates; fluctuations and uncertainties resulting from possible delays or changes in plans in connection with exploration or development projects or capital expenditures.

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The reader is cautioned that the assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, due to a number of known and unknown risks, uncertainties, and other factors, many of which are beyond Prospera’s control. As a result, Prospera cannot guarantee that any forward-looking statement will occur, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although management believes it to be relevant at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The 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 the news release, and Prospera does not undertake any obligation to publicly update or revise any forward-looking statements included, even if based on new information. , future events or otherwise, except as expressly required by Canadian securities law.

Neither the TSXV nor its Legal Services Provider (as that term is defined in TSXV policies) accepts responsibility for the adequacy or accuracy of this release.

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