Exciting News for Gear Energy Ltd.

A New Chapter Begins

Calgary, Alberta–(Newsfile Corp. – February 3, 2025) – Gear Energy Ltd. (“Gear”)

Today marks a significant milestone for Gear Energy Ltd. as the company’s shareholders have approved a plan of arrangement that will see a large publicly traded company acquire all of Gear’s issued and outstanding shares. This strategic move includes the transfer of Gear’s heavy oil assets to the acquiring company, while its light oil assets in Central Alberta and Southeast Saskatchewan, along with its heavy oil assets in Tucker Lake, will be transferred to a newly formed entity, Lotus Creek Exploration Inc.

This acquisition signals a new chapter for Gear Energy Ltd. as it paves the way for the company to refocus its efforts and resources on its core assets. With a renewed strategic direction and a dedicated focus on its remaining assets, Gear is poised for growth and success in the coming years.

The transaction will not only benefit Gear Energy Ltd. and its shareholders, but it will also have ripple effects on the local economy and the energy industry as a whole. By streamlining its operations and consolidating its assets, Gear is positioning itself for long-term sustainability and profitability.

As Gear Energy Ltd. embarks on this new journey, the company remains committed to delivering value to its shareholders, employees, and stakeholders. With a solid foundation and a clear vision for the future, Gear is well-positioned to thrive in the ever-evolving energy landscape.

How This Will Affect You

As a shareholder of Gear Energy Ltd., this acquisition could result in potential growth and value appreciation for your investment. With a more focused approach and streamlined operations, Gear is better positioned to deliver returns to its shareholders in the long run.

How This Will Affect the World

The consolidation of assets and strategic realignment of Gear Energy Ltd. will have far-reaching impacts on the energy industry. By optimizing its operations and focusing on core assets, Gear is contributing to a more efficient and sustainable energy sector, which will benefit the industry as a whole.

Conclusion

The approval of the plan of arrangement marks a new beginning for Gear Energy Ltd. With a strategic focus on its core assets and a commitment to delivering value to its shareholders, Gear is well-positioned for growth and success in the future. The acquisition will not only benefit the company and its shareholders but will also have positive effects on the energy industry and the local economy. As Gear embarks on this new chapter, the company looks towards a bright and promising future.