Prairie Provident Resources Announces Appointment of Glenn Hamilton and Kathy Turgeon to the Board of Directors - Seite 2

Annual Shareholders' Meeting

The Company's annual meeting of shareholders will be held on August 23, 2023 for the purposes of electing directors and appointing an auditor for the ensuing year. Mr. Hamilton and Ms. Turgeon, together with continuing directors Patrick McDonald, Ajay Sabherwal and Matthew Shyba, will be nominated for reelection at the meeting.

Executive Management

Mr. McDonald, Board Chairman, continues to serve as Interim Chief Executive Officer of the Company pending determination on a permanent CEO appointment. CEO candidate consideration is ongoing, and will be concluded under the direction of the reconstituted Board.

On a transitional basis, Mr. McDonald has also been discharging the regulatory responsibilities of chief financial officer with respect to the Company's annual and interim filings to date in 2023. The recruitment and appointment of a permanent CFO will similarly be overseen and concluded by the reconstituted Board.

Material developments regarding CEO and CFO determinations will be the subject of future disclosures.

ABOUT PRAIRIE PROVIDENT:

Prairie Provident is a Calgary-based company engaged in the exploration, development and production of its low decline, long life oil reserves in Alberta. The Company is currently producing oil and gas in western Canada with significant growth opportunities from a deep inventory of low-risk horizontal drilling locations and waterflood potential.

For further information, please contact:

Prairie Provident Resources Inc.
Patrick R. McDonald
Chairman and Interim Chief Executive Officer
Tel: [phone]
Email: [e-mail]