Mr. Leonard Jaroszuk reports

ENTERPRISE GROUP ANNOUNCES CLOSING OF PRIVATE PLACEMENT OF UNITS

Enterprise Group Inc. has closed the offering of units previously announced on Feb. 26, 2024. A total of 8,234,350 units were issued at a price of 85 cents per unit for gross proceeds of $7-million pursuant to the offering. The offering was led by Acumen Capital Finance Partners Ltd. and comprised a $5-million bought deal private placement of units and a $2-million reasonable commercial efforts private placement of units.

Each unit comprises one common share in the capital of the company and one-half common share purchase warrant. Each warrant is exercisable to acquire one additional common share for a period of 24 months at an exercise price of 95 cents, subject to adjustment in certain events.

The units issued under the offering were 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 2,352,000 units. The LIFE units are not subject to resale restrictions, pursuant to applicable Canadian securities laws. The hold units are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws. In connection with the offering, the underwriter received cash compensation equal to 6 per cent of the gross proceeds of the offering and brokers' warrants to acquire hold units equal to 6 per cent of the number of units sold pursuant to the offering at a price of 89 cents per hold unit for a term of 24 months.

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

About Enterprise Group Inc.

Enterprise Group is a consolidator of services -- including specialized equipment rental to the energy/resource sector. The company works with 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 well known to local Tier 1 and international resource companies with operations in Western Canada.

We seek Safe Harbor.