Prospera Energy Inc. Announces Service Rig Update, Closing of Acquisition, Warrant Amendments, Stock Option Grant, and Shares-for-Debt Settlement
Prospera Energy Inc. (GXRFF) has announced several key developments in Q1 2025. The company completed 32 workovers and reactivations across multiple properties before spring break-up on March 20th, including 16 in Hearts Hill, 11 in Luseland, and 5 in Cuthbert.
The company has successfully acquired a 10% working interest in Hearts Hill, Luseland, and Cuthbert properties for $1.79 million. The purchase terms include $400,000 in cash payments over 16 months, $200,000 in equity (3.07M shares at $0.065), and debt forgiveness of $1.19 million.
Additionally, Prospera has extended the expiry date of 15.33M warrants to February 2026, with 13.36M warrants repriced to $0.06. The company has also granted 2M stock options at $0.05 to management and settled $72,765 in interest debt through the issuance of 1.45M common shares.
Prospera Energy Inc. (GXRFF) ha annunciato diversi sviluppi chiave nel primo trimestre del 2025. L'azienda ha completato 32 lavori di ripristino e riattivazione in diverse proprietà prima della pausa primaverile del 20 marzo, inclusi 16 a Hearts Hill, 11 a Luseland e 5 a Cuthbert.
L'azienda ha acquisito con successo un interesse lavorativo del 10% nelle proprietà di Hearts Hill, Luseland e Cuthbert per 1,79 milioni di dollari. I termini di acquisto includono pagamenti in contante di 400.000 dollari distribuiti su 16 mesi, 200.000 dollari in equity (3,07 milioni di azioni a 0,065 dollari) e una cancellazione del debito di 1,19 milioni di dollari.
Inoltre, Prospera ha esteso la data di scadenza di 15,33 milioni di warrant a febbraio 2026, con 13,36 milioni di warrant riprezzati a 0,06 dollari. L'azienda ha anche concesso 2 milioni di opzioni su azioni a 0,05 dollari per la dirigenza e ha saldato 72.765 dollari di debito sugli interessi attraverso l'emissione di 1,45 milioni di azioni ordinarie.
Prospera Energy Inc. (GXRFF) ha anunciado varios desarrollos clave en el primer trimestre de 2025. La empresa completó 32 trabajos de reacondicionamiento y reactivación en múltiples propiedades antes de la pausa primaveral del 20 de marzo, incluyendo 16 en Hearts Hill, 11 en Luseland y 5 en Cuthbert.
La empresa ha adquirido con éxito un interés de trabajo del 10% en las propiedades de Hearts Hill, Luseland y Cuthbert por 1,79 millones de dólares. Los términos de compra incluyen 400.000 dólares en pagos en efectivo durante 16 meses, 200.000 dólares en acciones (3,07 millones de acciones a 0,065 dólares) y la condonación de una deuda de 1,19 millones de dólares.
Además, Prospera ha extendido la fecha de vencimiento de 15,33 millones de warrants a febrero de 2026, con 13,36 millones de warrants reajustados a 0,06 dólares. La empresa también ha otorgado 2 millones de opciones sobre acciones a 0,05 dólares a la gerencia y ha saldado 72.765 dólares en deuda de intereses mediante la emisión de 1,45 millones de acciones ordinarias.
Prospera Energy Inc. (GXRFF)는 2025년 1분기에 여러 주요 개발 사항을 발표했습니다. 이 회사는 3월 20일 봄철 휴가 이전에 32건의 작업 재개 및 재활을 완료했으며, 그 중 16건은 Hearts Hill, 11건은 Luseland, 5건은 Cuthbert에서 진행되었습니다.
회사는 Hearts Hill, Luseland 및 Cuthbert 자산에 대해 10%의 작업 지분을 179만 달러에 성공적으로 인수했습니다. 구매 조건에는 16개월 동안 40만 달러의 현금 지급, 20만 달러의 주식(307만 주, 주당 0.065 달러), 그리고 119만 달러의 부채 탕감이 포함됩니다.
또한, Prospera는 1533만 개의 워런트 만료일을 2026년 2월로 연장했으며, 1336만 개의 워런트는 주당 0.06 달러로 재조정되었습니다. 이 회사는 또한 경영진에게 주당 0.05 달러에 200만 개의 스톡옵션을 부여하고, 145만 개의 보통주를 발행하여 72,765 달러의 이자 부채를 상환했습니다.
Prospera Energy Inc. (GXRFF) a annoncé plusieurs développements clés au premier trimestre de 2025. L'entreprise a terminé 32 travaux de remise en état et de réactivation sur plusieurs propriétés avant la pause printanière du 20 mars, dont 16 à Hearts Hill, 11 à Luseland et 5 à Cuthbert.
L'entreprise a réussi à acquérir un intérêt de travail de 10% dans les propriétés de Hearts Hill, Luseland et Cuthbert pour 1,79 million de dollars. Les conditions d'achat comprennent 400 000 dollars en paiements en espèces sur 16 mois, 200 000 dollars en actions (3,07 millions d'actions à 0,065 dollar) et une annulation de dette de 1,19 million de dollars.
De plus, Prospera a prolongé la date d'expiration de 15,33 millions de bons de souscription jusqu'en février 2026, avec 13,36 millions de bons de souscription réévalués à 0,06 dollar. L'entreprise a également accordé 2 millions d'options d'achat d'actions à 0,05 dollar à la direction et a réglé 72 765 dollars de dettes d'intérêts par l'émission de 1,45 million d'actions ordinaires.
Prospera Energy Inc. (GXRFF) hat mehrere wichtige Entwicklungen im ersten Quartal 2025 bekannt gegeben. Das Unternehmen hat 32 Nacharbeiten und Reaktivierungen in mehreren Liegenschaften vor der Frühjahrsunterbrechung am 20. März abgeschlossen, darunter 16 in Hearts Hill, 11 in Luseland und 5 in Cuthbert.
Das Unternehmen hat erfolgreich einen 10%igen Arbeitsanteil an den Liegenschaften Hearts Hill, Luseland und Cuthbert für 1,79 Millionen Dollar erworben. Die Kaufbedingungen umfassen 400.000 Dollar in Barzahlungen über 16 Monate, 200.000 Dollar in Eigenkapital (3,07 Millionen Aktien zu 0,065 Dollar) und Schuldenerlass in Höhe von 1,19 Millionen Dollar.
Darüber hinaus hat Prospera das Ablaufdatum von 15,33 Millionen Warrants auf Februar 2026 verlängert, wobei 13,36 Millionen Warrants auf 0,06 Dollar neu bewertet wurden. Das Unternehmen hat außerdem 2 Millionen Aktienoptionen zu 0,05 Dollar an das Management gewährt und 72.765 Dollar an Zinsverbindlichkeiten durch die Ausgabe von 1,45 Millionen Stammaktien beglichen.
- Completed 32 workovers and reactivations in Q1 2025, expanding operational capacity
- Acquired 10% working interest in three properties, increasing ownership stake
- Successfully restructured $1.19M in debt through acquisition deal
- Extended warrant expiry dates, providing additional time for potential exercise
- Additional share issuance of 4.53M shares (acquisition and debt settlement) causing dilution
- Incurred $1.79M in purchase obligations
- Outstanding debt requiring settlement through share issuance
CALGARY, Alberta, March 25, 2025 (GLOBE NEWSWIRE) -- Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) ("Prospera", “PEI” or the "Corporation")
Service Rig Update
Prospera Energy completed a total of thirty-two workovers and reactivations in Q1 2025 before releasing service rigs for spring break-up on March 20th. 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.
Acquisition Closing
Prospera Energy announces it has successfully closed the
Warrant Amendments Update
Further to its January 9th, 2025, announcement, Prospera provides an update on the amended terms of outstanding warrants:
- The expiry date for all 15,330,000 warrants has been extended by one year, now expiring on February 14th, 2026.
- 13,363,000 of the 15,330,000 warrants have been repriced to
$0.06 , while 1,967,000 remain priced at$0.09 . - 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
$0.07 5.
Stock Option Grant
Prospera has granted a total of 2,000,000 options at
Shares for Debt
The Corporation has settled
About Prospera
Prospera Energy Inc. is a publicly traded Canadian energy company specializing in the exploration, development, and production of crude oil and natural gas. Headquartered in Calgary, Alberta, Prospera is dedicated to optimizing recovery from legacy fields using environmentally safe and efficient reservoir development methods and production practices. The company’s core properties are strategically 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 U.S. OTC Market under GXRFF.
Prospera reports gross production at the first point of sale, excluding gas used in operations and volumes from partners in arrears, even if cash proceeds are received. Gross production represents Prospera’s working interest before royalties, while net production reflects its working interest after royalty deductions. These definitions align with ASC 51-324 to ensure consistency and transparency in reporting.
For Further 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 relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will,” “may,” “should,” “anticipate,” “expects” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, 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 could 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 address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could 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 with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
The reader is cautioned that 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, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Prospera. As a result, Prospera cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward- looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. 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 undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
FAQ
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