PHX Minerals Inc. Response to the WhiteHawk Proposal

Group 1 - PHX Minerals Inc. has received a proposal from WhiteHawk Energy, LLC to acquire the company [1][2] - The Board of Directors of PHX has decided to decline the acquisition proposal, believing it is in the best interest of the stockholders [2] - PHX Minerals focuses on growing its mineral position in key areas, owning mineral acreage primarily in Oklahoma, Texas, Louisiana, North Dakota, and Arkansas [3]