Canada Energy Partners Inc. announced a non-brokered private placement of up to 40,000,000 units at an issue price of CAD 0.05 per unit for the gross proceeds of CAD 2,000,000 on May 9, 2023. The transaction will include participation from new investor, Wandoo Energy LLC. Each unit consists of one common share and one-half warrant entitling the holder to acquire an additional common share at an exercise price of CAD 0.15 share for a period of 24 months.

The transaction is subject to the approval of the TSX Venture Exchange.