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Persta Resources : SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO CONTINUING CONNECTED TRANSACTIONS PURSUANT TO RULE 14A.60(1) OF THE LISTING RULES

12/22/2019 | 05:21pm EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Persta Resources Inc.

(incorporated under the laws of Alberta with limited liability)

(Stock code: 3395)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO

CONTINUING CONNECTED TRANSACTIONS PURSUANT TO

RULE 14A.60(1) OF THE LISTING RULES

Reference is made to the announcement of Persta Resources Inc. (the ''Company'') dated December 19, 2019 (Hong Kong time) (the ''Announcement''), in relation to, among other things, the continuing connected transactions contemplated under the Gas Handling Agreement. Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those defined in the Announcement.

The Company wishes to provide the Shareholders and potential investors with the following supplemental information in relation to the Gas Handling Agreement.

FURTHER INFORMATION IN RELATION TO THE GAS HANDLING AGREEMENT

It was disclosed in the Announcement that the term of the Gas Handling Agreement is from May 9, 2019 to December 31, 2044. It was also disclosed in the Announcement the aggregate monthly handling charges associated with the use of Jixing Energy's Voyager gas gathering system (the ''Pipeline System'') for the period from March 1, 2020 to December 31, 2044.

The Company would like to supplement that it has not incurred any monthly handling charges pursuant to the Gas Handling Agreement from May 9, 2019 to the date of this announcement. The Pipeline System is not expected to come online until March 2020, as the construction of the natural gas pipeline and associated gas gathering infrastructure is only forecast to be completed and commissioned by March 2020. The Company will not incur any monthly handling charges unless and until the Pipeline System is commissioned and the Company begins to transport its natural gas and associated products through the Pipeline System. In the event that the Pipeline System is commissioned before March 2020, the aggregate monthly handling charges associated with the use of the Pipeline System will be C$361,000 (equals to approximately HK$2.1 million) which is calculated based on a pre-determined formula.

- 1 -

Saved as disclosed above, all other information contained in the Announcement remains unchanged.

By order of the Board

Persta Resources Inc.

Yongtan Liu

Chairman

Calgary, December 22, 2019

Hong Kong, December 23, 2019

As at the date of this announcement, the executive Director is Mr. Yongtan Liu; the non-executive Director is Mr. Yuan Jing; and the independent non-executive Directors are Mr. Richard Dale Orman, Mr. Bryan Daniel Pinney and Mr. Peter David Robertson.

For the purpose of illustration only and unless otherwise specified, conversion of C$ to HK$ in this announcement is based on the exchange rate of C$1.00 to HK$5.92. Such conversion should not be construed as a representation that any amount has been, could have been, or may be exchanged at this or any other rate.

- 2 -

Disclaimer

Persta Resources Inc. published this content on 23 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2019 22:20:09 UTC


ę Publicnow 2019
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