Global Energy Partner Backs Altura Energy with $3 Million Private Placement to Expand Helium Production in Arizona

Altura Energy Corp. (TSXV: ALTU,OTC:ALTUF) (OTCQB: ALTUF) (FSE: Y020) ("Altura" or the "Company") has arranged a non-brokered private placement (the "Offering") with a leading conglomerate from a Southeast Asian nation (the "Corporate Investor"). The Corporate Investor is a well-established entity with extensive interests and expertise in the global energy sector and will acquire approximately 19.95% non-diluted ownership in the Company, based on the current capital structure. The Offering will consist of 18,541,400 units of the Company (each, a "Unit") at a price of $0.1618 per Unit for gross proceeds of $3 million (CDN).

Each Unit of the Offering to the Corporate Investor will comprise one common share in the capital of the Company (each, a "Share") and one Share purchase warrant (a "Warrant"). Each full Warrant will entitle the Corporate Investor to acquire one additional Share at a price of $0.25 for 36 months from closing of the Offering, subject to an accelerated expiry provision (the "Acceleration"). All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Under the acceleration provision, if the closing price of the Shares is $1.00 or higher for 10 consecutive trading days, the exercise period of the Warrants may be reduced to 60 days at the Company's discretion by issuance of a press release within 7 days. If the Warrants remain subject to the statutory four-month-and-one-day hold period during this period, the Company may, if elected, choose to accelerate the exercise period subsequent to the expiration of such hold period. Any Warrants not exercised before the end of this 60-day period will expire and be void.

As part of the Offering, the Company and the Corporate Investor anticipate entering into an investor rights agreement (the "Agreement") pursuant to a standard investment license application in the area of origin of the Corporate Investor. The Agreement is expected to provide the Corporate Investor with the right to participate in future financings of the Company on a pro rata basis, contingent on the Corporate Investor maintaining ownership of at least 9.99% of the outstanding Shares of the Company. The Agreement will also provide the Corporate Investor with a right to nominate one member to the board of directors of the Company, contingent on the Corporate Investor maintaining ownership of at least 5% of the outstanding Shares of the Company.

The Company intends to use the net proceeds of the Offering for its flagship project in the Holbrook Basin and for working capital and general corporate purposes. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate, regulatory approvals and shareholder approvals (as applicable), including the TSX Venture Exchange (the "TSXV").

The Company anticipates issuing advisory Units (the "Advisory Units") to an arm's-length brokerage firm that assisted in introducing the Corporate Investor to the Company and is acting as financial advisors throughout the transaction, in accordance with the policies of the TSXV. Such Advisory Units will have the same terms and conditions as the Units, including, without limitation, the Warrants being subject to Acceleration.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release is not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT Altura Energy CORP.

Altura Energy Corp. is a helium-focused exploration and production company advancing a portfolio of assets in Arizona's prolific Holbrook Basin. The Company is focused on developing a reliable domestic source of helium, a critical and non-renewable gas essential to applications in healthcare, semiconductor manufacturing, aerospace, and advanced technologies.

Altura is currently advancing its flagship project in the Holbrook Basin of Arizona, where existing infrastructure and recent operational milestones position the Company to commence near-term helium production. With helium concentrations significantly above those typically encountered in conventional natural gas reservoirs, Altura is working to unlock the value of one of North America's emerging helium districts.

For more information, please visit SEDAR+.

Forward-Looking Statements

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

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Offering, including, without limitation, the anticipated execution and terms of the Agreement with the Corporate Investor, the ability of the Corporate Investor to maintain an ownership interest of approximately 5% or 9.99% in the Company, the Corporate Investor's rights to participate in future financings of the Company, the Acceleration, the anticipated use of proceeds from the Offering, the receipt of all necessary corporate, regulatory, shareholder and TSXV approvals, the issuance of Advisory Units and the completion of the Offering; the Company's development of a reliable domestic source of helium; the advancement of the Company's flagship project in the Holbrook Basin and related benefits therefrom, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, including, without limitation, risks that the Company may not close the Offering as contemplated, or at all; risks that the Agreement may not be executed or completed on the terms described herein, or at all; risks that the Company may not develop a reliable domestic source of helium as contemplated, or at all; risks that the Company may not advance its flagship project in the Holbrook Basin as contemplated, or at all; and risks that the Company may not unlock the value of the helium district as contemplated, or at all, as well as such other risks as described in the Company's public disclosure as filed and available on the Company's SEDAR+ profile. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306888