New Stratus Energy Inc. (TSXV:NSE) acquired 50% stake in GoldPillar International Fund SPC Ltd. on January 2, 2024. As consideration for the Acquisition, New Stratus will be making a significant capital investment to complete a reactivation program for up to 246 wells in the Fields, by way of a six-month $65.8 million revolving line of credit to Vencupet through GoldPillar. Factoring repayments from the sale of oil and products under the financing agreement, New Stratus expects that its indirect maximum capital exposure under the facility at any point in time will be approximately $25 million. As consideration for securing and presenting this opportunity to New Stratus, a finder?s fee (?Finder?s Fee?) is payable to Mr. Franco Favilla (?Favilla?), an Italian national and formerly the beneficial owner of 100% of the share capital of GoldPillar, in the amount of $8.5 million, with $4 million paid at closing and $4.5 million payable in installments over 24 months from closing. Cormark Securities Inc., Horizon Capital Partners LLC, Canaccord Genuity Corp., Echelon Wealth Partners Inc., Paradigm Capital Inc., Hannam & Partners (Advisory) LLP acted as financial advisors, Dentons Cardenas & Cardenas and Dentons Canada LLP acted as legal counsel to New Stratus in this acquisition.

New Stratus Energy Inc. (TSXV:NSE) completed the acquisition of 50% stake in GoldPillar International Fund SPC Ltd. on January 2, 2024.