Postponement of Filing of Q1 2020 Financials and MD&A Due to COVID-19 Related Delays

CALGARY, AB / ACCESSWIRE / May 29, 2020 / Prospera Energy Inc. ("Prospera" or the "Company") (TSXV:PEI)(FRA:OF6A) announces that as a result of related delays caused by COVID-19, the Corporation requires additional time to complete its filing of its unaudited interim financial statements ("Financial Statements") and accompanying management's discussion and analysis ("MD&A") (collectively the :" Interim Documents")for the quarter ended March 31, 2020, in reliance on the exemption provided in ASC Blanket Order 51-517 Temporary Exemption from Certain Corporate Finance Requirements ("the "Alberta Instruments") of the Alberta Securities Commission (and similar exemptions provided by the securities commission in British Columbia) which provides the Corporation with an additional 45 days to complete the Interim Documents which includes the Financial Statements and MD&A. The Corporation will file the Interim Documents no later than June 30, 2020.

Until the Company has filed the Financial Statements and MD&A, members of the Company's management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

There have been no material business developments since the filing of the Company's annual audited financial statements and accompanying management's discussion and analysis for the year ended December 31, 2019 on May 21, 2020

ABOUT PROSPERA ENERGY INC.

Prospera Energy Inc is a Canadian natural resource Corporation engaged in the acquisition, exploration, development and production of oil and gas properties with operations in Alberta and western Saskatchewan.

Sarshar Ahmad
President and Interim CEO

Prospera Energy Inc.
700, 1300 – 8th St SW, Calgary, AB T2R 1B2

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE: Prospera Energy Inc.

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