The TSX Venture Exchange has accepted for filing documentation with respect to the acquisition of 11.8 per cent of Andora Energy Corp.'s common shares owned by certain minority shareholders (vendors). Pursuant to the terms of a letter agreement and in accordance with the Business Corporations Act (Alberta), Andora will consolidate its common shares so that vendors hold fractional shares of Andora. Following the consolidation, Andora will redeem the fractional shares from the vendors for a cash payment of 4.4 cents per share and cancel them, resulting in the company having a 100-per-cent ownership in Andora. Holders of Andora stock options may participate by receiving payment for in-the-money value for the stock options held. The company will provide Andora with an aggregate of approximately $1.9-million to satisfy the redemption and the in-the-money value for the Andora stock options.

For further details, please refer to the company's news releases dated March 1, 2023, and March 27, 2023.