Mr. Jeffrey Allison reports

KF Capital Corp., a holding corporation, incorporated pursuant to the laws of the province of Saskatchewan, has acquired common shares of Kingsland Energy Corp. Kingsland is listed on the NEX Board of the TSX Venture Exchange under the trading symbol KLE.H. and its head office is located at No. 002, 2305 Victoria Ave., Regina, Sask., S4P 0S7.

KF acquired direct ownership or control over three million common voting shares of Kingsland, or approximately 49.13 per cent of the issued and outstanding Kingsland shares. Ownership of these common shares was acquired through a private placement that closed on Jan. 5, 2024.

Prior to the private placement, KF owned or controlled, directly or indirectly, 954,956 common shares. Posttransaction, KF owns or controls, directly or indirectly, 3,954,956 common shares, or approximately 64.77 per cent on an undiluted and fully diluted basis.

Each common share was issued at a price of one cent and KF paid $30,000 in total for all the common shares acquired.

KF acquired the common shares for investment purposes and, from time to time, KF may acquire additional securities of KLE, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position.