Acquisition of Common Shares of Raise Production Inc. by Albert Stark

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CALGARY, AB, April 22, 2021 /CNW/ - Pursuant to the early warning requirements of applicable Canadian securities laws, Albert Stark ("Acquiror") reports that, on April 20, 2021, the Acquiror acquired an aggregate of 17,758,904 common shares ("Common Shares") in the capital of Raise Production Inc. ("Raise" or the "Company") at a deemed price of $0.04 per Common Share in settlement of $710,356.16 in debt pursuant to a debt settlement agreement in full and final settlement of the secured convertible debentures held by the Acquiror (the "Transaction").

Prior to the Transaction, Acquiror held 603,279 Common Shares and 1,500,000 stock options of Raise.

Immediately following the completion of the Transaction, Acquiror beneficially owned or controlled, directly or indirectly, 18,362,183 Common Shares and 1,500,000 stock options, representing 10.6% (on a non-diluted basis) and 11.3% (on a fully diluted basis) of the voting securities of the Company.

Acquiror acquired the Common Shares pursuant to the Transaction and for investment purposes and may, in the future, increase or decrease its ownership of securities of Raise, directly or indirectly, from time to time through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise depending upon, among other things, the business and prospects of Raise and future market conditions.

For further details regarding the acquisition of the Common Shares described above, see the Early Warning Report dated April 22, 2021 available on Raise's SEDAR profile.

SOURCE Albert Stark


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