Cub Energy Inc. at its Annual General and Special Meeting of Shareholders held on December 19, 2022 approved to pay a Special Distribution to shareholders. The Special Distribution will be CAD 0.03 per share in the course of the amendment of the Company's articles and an exchange of outstanding shares for new shares and cash. The Special Distribution will be paid on approximately January 5, 2023 to shareholders of record as of the close of business on December 23, 2022.