Waskahigan Oil & Gas Corp. entered into a plan of arrangement to spin off Fox Creek Energy Ltd on January 1, 2023. As per the terms, Waskahigan Oil & Gas Corp.

shareholders will receive one share for each share they held in the company. The record date is April 9, 2023. Transaction is subject to regulatory, and Waskahigan shareholders approval.

AS of April 4, 2023, Waskahigan Oil & Gas Corp. shareholders approved the plan of arrangement.