612,500 Options of Source Rock Royalties Ltd. are subject to a Lock-Up Agreement Ending on 2-SEP-2023. These Options will be under lockup for 550 days starting from 1-MAR-2022 to 2-SEP-2023.

Details:
Every director and officer of the Company will enter into an agreement with the Co-Lead Underwriters in which they have covenanted not to issue or sell, agree or offer to issue or sell, or enter into an arrangement to issue or sell, directly or indirectly, any Common Shares, any securities convertible or exchangeable into Common Shares, or any other voting or equity securities of the Company or any subsidiary of or successor to the Company, for a period of 180 days subsequent to the closing of the Offering unless: (i) they first obtain the prior written consent of the Co-Lead Underwriters, such consent not to be unreasonably withheld, conditioned or delayed; or (ii) there occurs a take-over bid or similar transaction involving a change of control of the Company.

11,815,879 Common Shares and 2,450,000 Options will be released from escrow in accordance with the following: one-quarter of the escrowed securities on the listing date, one-third of the remaining escrowed securities 6 months following the listing date, one-half of the remaining escrowed securities 12 months following the listing date, and the remaining escrowed securities 18 months following the listing date.