Karsten Issues Additional Subordinated Convertible Notes Due 2024

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VANCOUVER, BC / ACCESSWIRE / July 29, 2021 / Further to its press release dated May 27, 2021, Karsten Energy Corp. ("Karsten" or the "Company") is pleased to announced today that it has issued an additional $4.536 million of Subordinated Convertible Notes due 2024 (the "Notes") pursuant to the terms of a trust indenture with an institutional trustee.

The Company intends to use the net proceeds of the issuance to increase its investment in secured convertible notes of the Final Bell Group and for general working capital. All Notes are subject to statutory hold periods expiring four months and one day from the date of issuance, pursuant to applicable Canadian securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available.

For further information please contact:

Kay Jessel
Chief Executive Officer

Forward-Looking Information

This press release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur and in this press release include statements respecting the expected use of proceeds from the issuance of Notes. These statements are only predictions and should not be read as guarantees of future performance or results. Forward-looking information is based on the opinions, estimates and reasonable assumptions of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates, opinions or assumptions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

SOURCE: Karsten Energy Corp.

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