Prospera Energy Inc. Announces Service Rig Update, Closing of Acquisition, Warrant Amendments, Stock Option Grant, and Shares-for-Debt Settlement

About this update from Prospera Energy Inc.

[{"type":"text","content":"Prospera Energy Inc. Announces Service Rig Update, Closing of Acquisition, Warrant Amendments, Stock Option Grant, and Shares-for-Debt Settlement\n\n\n\n CALGARY, Alberta, March 25, 2025 (GLOBE NEWSWIRE) -- Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) (\"\n \n Prospera\n \n \", “\n \n PEI\n \n ” or the \"\n \n Corporation\n \n \")\n \n\n\n\n Service Rig Update\n \n\n Prospera Energy completed a total of thirty-two workovers and reactivations in Q1 2025 before releasing service rigs for spring break-up on March 20\n \n th\n \n . This included sixteen service rig jobs in Hearts Hill, eleven jobs in Luseland which consisted primarily of high-impact reactivations, and five jobs in Cuthbert. The Corporation will release further information in the March operations update scheduled for release later this month.\n \n\n\n Acquisition Closing\n \n\n Prospera Energy announces it has successfully closed the 10% working interest in each of the Hearts Hill, Luseland, and Cuthbert properties from an arm’s length joint venture partner. The total purchase price for this transaction was $1,792,646, consisting of $400,000 in cash to be paid over 16 months, $200,000 in equity through the issuance of 3,076,923 PEI common shares at a price of $0.065 per share, subject to a six-month hold period, and forgiveness of all outstanding debts totaling $1,192,646 owed by the joint venture partner. Furthermore, 3,076,923 warrants were issued, allowing the holder to acquire one PEI common share at a price of $0.10 in the first year and $0.15 in the second year.\n \n\n\n Warrant Amendments Update\n \n\n Further to its January 9\n \n th\n \n , 2025, announcement, Prospera provides an update on the amended terms of outstanding warrants:\n \n\n\n The expiry date for all 15,330,000 warrants has been extended by one year, now expiring on February 14\n \n th\n \n , 2026.\n \n\n 13,363,000 of the 15,330,000 warrants have been repriced to $0.06, while 1,967,000 remain priced at $0.09.\n \n\n An accelerated expiry clause has been introduced, whereby the exercise period of the warrants will be reduced to 30 days if, for any ten consecutive trading days during the unexpired term of the warrant the closing price of the listed shares exceeds $0.075.\n \n\n\n\n\n Stock Option Grant\n \n\n Prospera has granted a total of 2,000,000 options at $0.05 pursua...

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