Prospera Energy Inc. : TSX: PEI-V; OTC : GXRFF; FRA : OF6A Message to Shareholders PEI has strategically acquired this light oil property to diversify its oil product mix and to realize higher margin. This acquisition is entirely success-based eliminating any requirement for large up front capital investment. This asset provides PEI with a significant development opportunity along the light-oil formation fairway. This [...]
Prospera Energy Inc. PEI: TSX-V; OF6A: FRA Second Quarter 2022 Highlights: In the second quarter of 2022, the renewed Prospera is pleased to realize milestone positive Net Income and EBITDA in Q2 2022, supported by robust commodity pricing. PEI continued to execute the restructuring objectives of production optimization, compliance, and ARO reduction. However, breakup weather conditions mitigated the activity level in [...]
Prospera Energy Inc. wishes to provide an update and amend its second bi-weekly Status Report that was issued on May 31, 2022 under National Policy 12-203 Management Cease Trade Orders , pursuant to which Prospera issued its original default announcement indicating that the filing of its annual audited financial statements, annual management's discussion and analysis, and related CEO and CFO certifications for the year [...]
Prospera Energy Inc. is pleased to provide its shareholders with the following corporate update summarizing the significant milestones achieved over the past 1.3 years. Prospera has now positioned itself to develop three large heavy oil fields with significant OOIP that have had no modern drilling or recovery methods applied. Historical production has accounted for only 30 mmbbl. PEI Restructure 2021 Commencing 2021, PEI [...]
Prospera Energy Inc. is pleased to provide its shareholders with the following corporate update summarizing the significant milestones achieved over the past 1.3 years. Prospera has now positioned itself to develop three large heavy oil fields with significant OOIP that have had no modern drilling or recovery methods applied. Historical production has accounted for only 30 mmbbl. PEI Restructure 2021 Commencing 2021, PEI [...]
: Prospera Energy Inc. announces two non-brokered private placement financings to fund the ongoing restructuring process that has transitioned the Corporation to regulatory compliance, environmentally safe operating conditions and production optimization. The proceeds from these financings will fund the second phase of the development plan , increasing ownership and acquisitions at hand under agreements. The financings [...]
Prospera Energy Inc. restructuring and refinancing efforts have been focused on settling historical liabilities to trade creditors and municipalities, resolving numerous environmental and regulatory non-compliance issues, settling outstanding joint venture partners accounts receivables and updating all production facilities to safe and reliable operating conditions; this in parallel with the execution of the initial [...]
Prospera Energy Inc. : Prospera Energy Inc. received TSX Venture Exchange approval to consolidate, reduce and settle trade payables with creditors through the issuance of shares in the Corporation. The current total trade payables settled for shares is $1,147,626.72 in exchange for 6,557,867 common shares at a price of $0.175 per share. These shares have been issued and the number of issued and outstanding shares for [...]
Prospera Energy Inc. : Prospera Energy Inc. received final approval from TSX Venture Exchange for a third private placement in 2021, raising $2,040,000 by offering convertible debenture units and flow-through share units. This private placement was previously announced on November 29, 2021 and was commenced in line with the Corporation's restructuring plans to be compliant, profitable and steward amicable and functional [...]
Prospera Energy Inc. announces that it has changed its auditors from MNP LLP to Crowe MacKay LLP effective December 1, 2021. There were no reservations in the Former Auditor's audit report for any financial period during which the Former Auditor was the Corporation's auditor. There are no "reportable events" between the Corporation and the Former Auditor. In accordance with National Instrument 51-102, the Notice of Change [...]
Prospera Energy Inc. announces its financial and operating results for the nine months ended September 30, 2021. The condensed Interim Financial Statements and related Management's Discussion and Analysis is available at www.sedar.com. OPERATION AND FINANCIAL SUMMARY Year-to-date revitalization activities are reflected in the Q3 operating costs, which were overstated by the inclusion of capital consumed by compliance and [...]
Prospera Energy Inc. intends to raise up to $3,000,000 by way of non-brokered private placement. A total of up to $2,000,000 will be raised by offering 8% convertible debentures with the principal amount convertible at $0.05 in the first year and $0.10 in the second year. Applicable interest will be payable in cash or shares at the option of the Corporation. Debenture Term sheet Issuer: Prospera Energy Inc. . Issue [...]
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