Item 2.01 Completion of Acquisition or Disposition of Assets.

In November of 2022, Terra Energy and Resources Technologies Inc. entered into an agreement to acquire Maverick Oil and Gas and Barrington Resources. In the course of our attempts to complete the deal, the CEO and President of the Acquisition targets, Brian Carr had passed away. Upon his passing, Terra Energy was informed of many negative material events that have not been previously disclosed. As no tender had been issued at this point, Terra Energy has decided to simply walk away from this acquisition as we believe it is in the best interests of our shareholders.

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