Prospera Energy Announces Successful Closing of Private Placement

Executive Summary

• Prospera Energy closed its previously announced unit offering, raising CAD $3,000,000 at $0.035 per unit – the full amount of the financing.
• Net proceeds will be used to strengthen working capital, accelerate well reactivations and fund production‑optimization initiatives across core assets.
• The company also provided an update on its shares‑for‑debt settlements with four arm’s‑length vendors, issuing a total of 1,000,000 common shares to settle approximately CAD $81,844 in debt.

Key Details

• Offering Structure: Non‑brokered private placement of units; each unit = 1 common share + 1 warrant (exercise price $0.050, three‑year term).
• Issue Price: $0.035 per unit.
• Gross Proceeds: CAD $3,000,000 (fully subscribed, no finder fees or broker warrants issued).
• Target Close Date: On or before March 15, 2026; subject to final TSX Venture Exchange acceptance.
• Use of Proceeds: Working capital, well reactivations, production optimization, balance‑sheet strengthening.
• Insider Participation:
• Matthew Kenna – $336,500 for 9,614,286 units
• Brian McConnell – $80,000 for 2,285,714 units
• Shubham Garg (White Tundra Investments) – $40,000 for 1,142,857 units
• Strategic Shareholder Participation: Countryman Investments ($235,758) and entities linked to Peter Lacey ($380,000). A major Canadian financial institution subscribed ~$1 million.
• Finders Fees (if any): Up to 3% cash and 3% warrants may be paid to qualified finders.

Shares‑for‑Debt Settlement Update

Notable Quotes

(No direct quotes were provided in the release.)