Prospera Energy Broadens Asset Base with White Tundra Acquisition

Prospera Energy Inc., a publicly traded Canadian energy company, has announced its acquisition of 100% of the issued and outstanding common shares of White Tundra Petroleum located in Alberta. This strategic move is set to expand Prospera's asset portfolio and base production by integrating WTP's assets which produce 30 API medium oil. The acquisition involves the issuance of 18,000,000 common shares of Prospera to WTP shareholders, contingent upon production levels achieving specific benchmarks. Additionally, Prospera assumes operational oversight of WTP and plans a $200,000 workover program to enhance production. The transaction involves related party conditions as Shubham Garg, Chairman of Prospera’s Board, is also the CEO and a shareholder of WTP. To maintain transparency, Prospera commits to increased corporate governance measures, including monthly operational updates available on its website. In addition to the acquisition, Prospera reports significant production achievements at its existing fields and has completed a settlement for $1,500,000 in convertible debt. The settlement includes refinancing and share agreements to streamline the financial obligations. This acquisition and financial realignment showcase Prospera’s strategic focus and commitment to growth and operational efficiency.