On February 22, 2024, Saturn Oil & Gas Inc. closed the transaction. The company has now issued 22,223,000 common shares at a price of CAD 2.25 per share for aggregate gross proceeds of approximately CAD 50,001,750. . The common shares issued pursuant to the Offering are subject to a four month hold period pursuant to applicable securities laws. The Toronto Stock Exchange has conditionally approved the listing of the
common shares issued pursuant to the Offering. Certain insiders of the company participated in the Offering and acquired an aggregate of
8,889,700 common shares.