Waterous Energy Fund Announces Disposition of Shares of Strathcona Resources Ltd.

Core Viewpoint - Waterous Energy Fund Management Corp. announced the dissolution of WEF Osum Co-Invest I LP, resulting in the disposition of approximately 11.3 million common shares of Strathcona Resources Ltd., reducing the WEF Funds' ownership from 79.6% to 74.3% of the company's outstanding shares [1][2]. Group 1: Transaction Details - The transaction involved the disposition of 11,299,917 common shares, representing about 5.3% of Strathcona Resources Ltd.'s issued shares, to the limited partners of Osum I without any consideration paid to Osum I [1][2]. - Prior to the transaction, the WEF Funds collectively owned 170,536,718 common shares, and after the transaction, they own 159,236,801 common shares [1]. Group 2: Future Ownership Intentions - The remaining WEF Funds hold the common shares for investment purposes and may change their beneficial ownership depending on market conditions and other factors [3]. - Potential transactions by the remaining WEF Funds may occur at any time and will depend on various factors, including the price and availability of the company's securities and general economic conditions [3]. Group 3: Regulatory Compliance - The news release is issued in accordance with National Instrument 62-103, and an early warning report will be filed with applicable securities commissions [4].