From GlobeNewswire: 2025-05-12 18:55:00

Prospera Energy Inc. is planning a convertible debt offering to raise up to $2,000,000 through a non-brokered private placement. The offering consists of 12% convertible debentures with a conversion price of $0.05 in the first year and $0.10 in the second year. Interest will be paid in cash or shares at the Corporation’s discretion. The proceeds will be used for well reactivation, production optimization, strategic acquisitions, and working capital. The company is also working on consolidating its balance sheet under a senior secured debt instrument to access additional working capital and support its business plan.
In other news, Prospera has secured a seasonal sales agreement for ~20% of its oil production, enhancing netbacks through improved pricing and transportation efficiency. The company has mobilized a service rig for a multi-well program at its Cuthbert property to increase production. Additionally, Prospera is moving forward with a polymer flood pilot in the Luseland pool to optimize reservoir response.
Prospera is set to release its Q1 2025 Financial Statements on May 21st, 2025, followed by an investor conference call on May 22nd, 2025. Interested parties can register for the live webinar on the company’s website. Prospera Energy Inc. specializes in the exploration, development, and production of crude oil and natural gas, with core properties in Saskatchewan and Alberta. The company reports gross production at the first point of sale, excluding gas used in operations and volumes from partners in arrears. Forward-looking statements in this news release caution investors of potential risks and uncertainties in the oil and gas industry.



Read more at GlobeNewswire: Prospera Energy Announces Convertible Debt Private