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CALGARY, Alberta, March 29, 2023 (GLOBE NEWSWIRE) — Prairie Provident Sources Inc. (“Prairie Provident” or the “Firm”) is happy to announce that it has launched an up to date investor presentation in reference to its lately introduced recapitalization transactions (collectively, the “Recapitalization”). The presentation outlines the Firm’s pro-forma monetary profile and steerage, funding highlights, capital expenditure and optimization program, progress alternatives in its deep stock of low-risk, in-fill drilling, and particulars on its improvement belongings.

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Please consult with the press launch dated at this time saying the Recapitalization for added particulars.

ABOUT PRAIRIE PROVIDENT

Prairie Provident is a Calgary-based firm engaged within the exploration and improvement of oil and pure fuel properties in Alberta. The Firm’s technique is to optimize our present belongings to supply steady low decline money stream, and use these funds to enhance the stability sheet and handle liabilities.

For additional data, please contact:

Prairie Provident Sources Inc.

Investor Relations
Tel: (403) 292-8000
E-mail: information@ppr.ca

CAUTIONARY STATEMENTS:

Ahead-Trying Statements

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This information launch comprises ahead‐wanting statements concerning the Recapitalization Transactions, closing of the Recapitalization Transactions and the timing of the identical, use of proceeds of the Second Lien Financing and the Fairness Financing, the advantages and impacts of the Recapitalization on Prairie Provident, the Firm’s potential to proceed as a going concern, the success of the Firm’s optimization packages and drilling packages, and the Firm’s continued qualification for itemizing on the TSX. These ahead‐wanting statements are supplied as of the date of this information launch, or the efficient date of the paperwork referred to on this information launch, as relevant, and mirror predictions, expectations or beliefs concerning future occasions primarily based on the Firm’s beliefs on the time the statements had been made, in addition to numerous assumptions made by and data presently obtainable to them. In making the forward-looking statements included on this information launch, the Firm has utilized a number of materials assumptions, together with, however not restricted to, the well timed receipt of TSX approvals in respect of the relevant Recapitalization transactions; that each one situations precedent to the completion of the Recapitalization might be accomplished in a well timed method; and that basic financial situations and commodity value situations is not going to change in a materially opposed method. Though administration considers these assumptions to be cheap primarily based on data obtainable to it, they might show to be incorrect. By their very nature, ahead‐wanting statements contain inherent dangers and uncertainties, each basic and particular, and dangers exist that estimates, forecasts, projections and different ahead‐wanting statements is not going to be achieved or that assumptions on which they’re primarily based don’t mirror future expertise. We warning readers to not place undue reliance on these ahead‐wanting statements as quite a few vital elements might trigger the precise outcomes to vary materially from the expectations expressed in them. These threat elements could also be typically said as the danger that the assumptions expressed above don’t happen, however particularly embrace, with out limitation, dangers referring to: basic market situations; the Firm’s potential to safe financing on beneficial phrases; the failure to obtain all relevant third social gathering and regulatory approvals for the Recapitalization transactions, and the extra dangers described within the Firm’s newest Annual Data Kind, and different disclosure paperwork filed by the Firm on SEDAR. The foregoing record of things that will have an effect on future outcomes shouldn’t be exhaustive. When counting on our ahead‐wanting statements, buyers and others ought to rigorously take into account the foregoing elements and different uncertainties and potential occasions. The Firm doesn’t undertake to replace any ahead‐wanting assertion, whether or not written or oral, that could be made now and again by the Firm or on behalf of the Firm, besides as required by regulation.