Mr. Leonard Jaroszuk reports

ENTERPRISE GROUP ANNOUNCES ADDITIONAL PRIVATE PLACEMENT OF UNITS

Enterprise Group Inc. has amended the terms of the offering of units previously announced on Feb. 26, 2024. Under the amended terms, Acumen Capital Finance Partners Ltd. has agreed to add a concurrent reasonable commercial effort private placement of units of up to $2-million on the same terms and conditions (including a price of 85 cents per unit) as the LIFE offering. Aggregate gross proceeds of the LIFE offering and concurrent non-LIFE private placement will be up to $7-million.

Each unit will be composed of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will be exercisable to acquire one additional common share for a period of 24 months following the closing of the amended offering at an exercise price of 95 cents per warrant share, subject to adjustment in certain events.

The units to be issued under the amended offering will be offered to purchasers pursuant to: (i) the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions) in an amount of 5,882,350 units; and (ii) other applicable exemptions from the prospectus requirements under NI 45-106 in an amount of up to 2,352,000 units in British Columbia, Alberta, Saskatchewan, Ontario and Quebec. The LIFE units will not be subject to resale restrictions pursuant to applicable Canadian securities laws. The hold units will be subject to the statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.

The company intends to use the net proceeds of the amended offering to expand its fleet of rental equipment with an emphasis on low-emission mobile power systems and for general corporate purposes.

Closing of the amended offering is expected to be on or about March 12, 2024, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.

There is an offering document relating to the LIFE offering that can be viewed under the company's SEDAR+ profile. Prospective investors should read the offering document before making an investment decision.

About Enterprise Group Inc.

Enterprise is a consolidator of services, including specialized equipment rental to the energy/resource sector. The company works with a particular emphasis on systems and technologies that mitigate reduce or eliminate carbon dioxide and greenhouse gas emissions for itself and its clients. The company is known to local Tier 1 and international resource companies with operations in Western Canada.

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