Nexera Provides Update on Delayed Filing of Annual Financial Statements and MD&A and Management Cease Trade order - Seite 2

Until the Annual Filings have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines set out in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases, which will also be filed on SEDAR. To the extent applicable, the Company is scheduled to file its next default status report in two weeks from the date hereof.

Also, further to the press release of the Corporation dated April 20, 2023, the subscription of Debentures by an insider of the Company (Mr. Graham Carter (a director of the Company - $300,000 in Debentures may be considered a "Related Party Transactions" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions, however the Corporation will rely upon available exemptions from the minority shareholder approval and valuation requirements set forth in that Instrument (the fair market value of these subscriptions being less than 25% of the Corporation's market capitalization (exemptions found in sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions)). The actions disclosed herein were approved by the board of directors of the Corporation via written resolution, signed and approved by all directors.

For further information, please contact:

Nexera Energy Inc. President, Shelby D. Beattie, by telephone at [phone]
Email: [e-mail]
www.nexeraenergy.com.

About Nexera Energy Inc.

Nexera Energy Inc. (TSX Venture: NGY) is an energy company with oil producing properties in Southwest Texas. Nexera is owner and operator of the Lavernia, Wooden Horse and Stockdale Horizon Projects. The Company also owns 100% of Production Resources Inc., a South Texas oil company.

Forward Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein relating to the timing of the filing of financial statements constitutes forward-looking statements. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.