Vertex Resource Group Ltd. (TSXV:VTX) entered into a definitive amalgamation agreement to acquire Cordy Oilfield Services Inc. (TSXV:CKK) for CAD 10.6 million on February 25, 2022. Under the terms of the Amalgamation Agreement, Cordy Oilfield shareholders will receive 0.081818 Vertex Shares for every one Cordy Share held (the "Exchange Ratio"), resulting in the issuance of approximately 18,913,253 Vertex Shares to Cordy Oilfield shareholders. Vertex is also pleased to announce that subject to the approval of the TSXV it intends to complete a non brokered private placement of CAD 15 million principal amount of a secured subordinated convertible debenture. The proceeds of the Private Placement will used to satisfy ongoing obligations post-Amalgamation, future acquisitions and working capital. The Agreement provides for a CAD 500,000 termination fee payable by Cordy in certain circumstances if the Amalgamation is not completed.

Completion of the Amalgamation is subject to, (i) the approval of the shareholders of Cordy in accordance with applicable corporate and securities laws at a special meeting of Cordy Shareholders scheduled to be held on or about April 22, 2022; (ii) approval of the TSX Venture Exchange Inc.; (iii) the completion of the Private Placement; and (iv) certain other closing conditions customary in transactions of this nature. Cordy represents and warrants to Vertex that the Cordy Board has unanimously approved the Amalgamation and the entering into of the Amalgamation Agreement and determined that it will recommend that the Cordy Shareholders vote in favour of the Cordy Amalgamation Resolution. The Vertex Board has unanimously approved the Amalgamation and this Agreement. As of April 22, 2022, shareholders of Cordy Oilfield approved the transaction. The transaction is expected to close in Q2 2022. As of April 22, 2022, the transaction is expected to close on or about April 25, 2022.

MLT Aikins LLP acted as legal advisor to Vertex Resource Group Ltd. DLA Piper (Canada) LLP acted as legal advisor to Cordy Oilfield Services Inc.

Vertex Resource Group Ltd. (TSXV:VTX) completed the acquisition of Cordy Oilfield Services Inc. (TSXV:CKK) on April 25, 2022. As condition of the Amalgamation, a nominee of Cordy, Stuart King was appointed to the board of directors of Vertex April 25, 2022, subject to approval by the TSXV. The Cordy Share will be delisted from the TSXV which is expected to occur on or about April 28, 2022.