Mr. Wenye Xue reports

WESTERN RESOURCES CORP. PROVIDES BI-WEEKLY MCTO STATUS UPDATE

Western Resources Corp. is providing this biweekly update on the status of the management cease trade order (MCTO) issued on Jan. 2, 2025, by its principal regulator, the British Columbia Securities Commission (BCSC), under National Policy 12-203 -- Management Cease Trade Orders.

As previously announced on Dec. 17, 2024, the company applied for the MCTO due to a delay in filing its annual information form, audited annual financial statements, the related management's discussion and analysis, and certifications for the financial year ended Sept. 30, 2024. Due to the continued financial hardships, the company will not be able to file the required filings by Feb. 28, 2025. The company expects that the BCSC will issue a failure-to-file cease trade order (CTO) on or after Feb. 28, 2025. While the CTO is in effect, a person or company must not trade in a security of the company, except in accordance with the conditions, if any, contained in the order.

The company confirms that since the date of the original announcement: (i) there have been no material changes to the information contained in the original announcement that would reasonably be expected to be material to an investor; (ii) there have been no failures by the company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines as set out in NP 12-203; (iii) there has not been, nor is there anticipated to be, any other specified default subsequent to the default which is the subject of the original announcement; and (iv) there is no other material information concerning the affairs of the company that has not been generally disclosed.

We seek Safe Harbor.