Altima Energy Provides Bi-Weekly MCTO Status Update and Corporate Update

Core Viewpoint - Altima Energy Inc. is providing updates on its management cease trade order, proposed acquisitions, and a private placement financing initiative totaling up to $5,500,000 [1][4]. Group 1: Management Cease Trade Order (MCTO) - On July 2, 2025, the company applied for a management cease trade order due to delays in filing its audited annual financial statements for the year ended February 28, 2025 [2]. - The MCTO restricts the CEO and CFO from trading in the company's securities until the required documents are filed and the order is revoked [2]. - The company expects to file the required documents by August 29, 2025 [2]. Group 2: Property Acquisition - The company has paid a non-refundable deposit of $150,000 for the prospective acquisition of the Red Earth Property in Northern Alberta, with a total consideration of $1,050,000 CAD [3]. - This acquisition is arms-length, and while no binding agreement is in place yet, the company anticipates finalizing it upon closing the financing [3]. Group 3: Private Placement Financing - On July 8, 2025, the company announced a private placement for gross proceeds of up to $5,500,000, pending acceptance by the TSX Venture Exchange [4]. - The anticipated closing date for the private placement is around July 18, 2025 [4]. Group 4: Company Status and Compliance - The company confirms that there have been no material changes to the information disclosed in the original announcement and continues to comply with NP 12-203 guidelines [5][6]. - There are no other material undisclosed affairs concerning the company [5]. Group 5: Company Overview - Altima Energy is an oil and gas exploration and production company based in Vancouver, focusing on hydrocarbon asset development across North America [7]. - The company aims for operational excellence and sustainable growth while enhancing shareholder returns through disciplined asset management [7].