Questerre updates corporate reorganization

Core Viewpoint - Questerre Energy Corporation is undergoing a reorganization to spin out its Quebec assets, which involves the exchange of existing Class A Common Shares for new Class A Common Shares and Series 2 Preferred Shares, with the original Common Shares being cancelled [2]. Summary by Sections Shareholder Approval and Reorganization Details - Shareholders approved a special resolution for the reorganization on January 15, 2026, leading to the exchange of each Common Share for one New Common Share and one Series 2 Preferred Share [2]. - The New Common Shares will continue trading on the TSX and Oslo Bors under the same CUSIP and ISIN numbers as the original Common Shares, while the Series 2 Preferred Shares will have new identifiers [2]. Fair Market Value - The management estimates the fair market value of the Series 2 Preferred Shares to be approximately C$0.01 per share, although this estimate is not binding on any regulatory body [3]. Key Dates - Important dates related to the reorganization include: - January 15, 2026: Date of shareholder approval - January 21, 2026: Last day of trading in the Common Shares - January 22, 2026: Distribution Record Date in Canada - January 23, 2026: Record Date in Norway - January 27, 2026: Effective Date for distribution of Series 2 Preferred Shares [4]. Series 2 Preferred Shares Terms - The terms of the Series 2 Preferred Shares are expected to be amended to allow the Oversight Committee to nominate a director for election by New Common Shareholders, and to clarify that Toronto Stock Exchange approval is required for any conversion of Series 2 Preferred Shares into New Common Shares [4]. Additional Information on Red Leaf Resources Inc. - In connection with the acquisition of Red Leaf Resources Inc., holders of Red Leaf common shares will receive one Series 2 Preferred Share for each New Common Share issued after the Distribution Record Date [5]. Company Overview - Questerre is positioned as an energy technology and innovation company, focusing on leveraging expertise in low permeability reservoirs to acquire high-quality resources and transition its energy portfolio with clean technologies [6]. - The company emphasizes the importance of balancing economics, environment, and society for the future success of the energy industry, advocating for transparency and public involvement in energy decisions [7].