Home Listing method Coelacanth Energy Inc. Announces Listing on TSX Venture Exchange

Coelacanth Energy Inc. Announces Listing on TSX Venture Exchange

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CalgaryCoelacanthe Energy Inc. (TSXV: CEI) (“Coelacanthe” or the “Company”) is pleased to announce that the Company has obtained a listing TSX Venture Exchange (“TSXV”) and will be listed on the TSXV under the symbol “CEI” on June 20, 2022.

Please note that certain “Coelacanth Arrangement Warrants” further described below are not listed for trading, but the underlying common shares of Coelacanth (“Coelacanth Shares”) will be listed for trading. of the TSXV once exercised.

Each Coelacanth Arrangement Warrant entitles its holder to purchase one Coelacanth Share up to June 30, 2022 at a price of $0.27 per part of coelacanth. Upon listing, there will be 376,213,015 Coelacanth Shares issued and outstanding, excluding the 50,216,328 unexercised Coelacanth Arrangement Warrants currently outstanding. Coelacanth was created as part of the plan of arrangement between Vermilion Energy Inc. and Leucrotta Exploration Inc. who closed the May 31, 2022. The coelacanth is led by Robert Zakresky as President and CEO and will be a growth-oriented entity with assets concentrated in the highly prolific Montney resource trend in the Northeast Two Rivers region British Columbia. On June 10, 2022Coelacanth has completed a fully subscribed non-brokered private placement of units to certain employees, directors, consultants and insiders of the Company for gross proceeds of $7,500,638.34.

Each unit consisted of one Coelacanthe share and one Coelacanthe share warrant, each warrant entitling its holder to acquire one Coelacanthe share at a price of $0.27 for a period of 5 years. 13,776,825 of the Coelacanth Shares issued under the Offer were issued on a “flow-through” basis under the Income Tax Act (Canada). The Coelacanth Shares are subject to certain resale restrictions under applicable securities laws, and 26,982,177 of the Coelacanth Shares are in escrow pursuant to the policies of the TSXV.

Contact:

Tel: 403-705-4525

Web: www.coelacanthe.ca

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, “intend to “, “expect”, “plan”, “advice” and similar expressions are intended to identify forward-looking statements or information. Specifically, and without limitation, this document contains forward-looking statements and information relating to the cash flow and number of Coelacanth Arrangement Warrants expected to be exercised in the future. Forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions relating to prevailing commodity prices and foreign exchange rates, applicable royalty rates and tax laws, future well production rates, the performance of existing wells, the success of drilling new wells, the availability of capital to undertake planned activities, and the availability and cost of labor and services. Although the Company believes that the expectations reflected in these forward-looking statements and information are reasonable, it cannot guarantee that these expectations will prove to be correct. Because forward-looking statements and information relate to future events and conditions, they, by their very nature, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general, such as operational risks related to development, exploration and production, delays or changes in plans. regarding exploration or development projects or capital expenditures, the uncertainty of estimates and projections relating to production rates, costs and expenses, fluctuations in commodity prices and exchange rates, marketing and transportation, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in tax, royalty and environmental laws. The forward-looking statements and information contained in this document are made as of the date hereof for the purpose of providing readers with the Company’s expectations for the coming year. Forward-looking statements and information may not be appropriate for other purposes. The Company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. . Meaning of boe/d: When used in this press release, boepd means one barrel of oil equivalent per day.

A boe conversion rate of six thousand cubic feet of natural gas for one barrel of oil equivalent has been used for the calculation of boe amounts in this news release. This boe conversion rate is based on an energy equivalency conversion method primarily applicable to the burner nose and does not represent a value equivalence at the wellhead. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities of United Statesand there will be no sale of the securities mentioned in this press release in any state of United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.