Nexera Provides Update - Q1 Financial Statements and MD&A Filed

CALGARY, AB and SAN ANTONIO, TX / ACCESSWIRE / June 22, 2023 / Nexera Energy Inc. (TSXV:NGY)(OTC:EMBYF) (the "Corporation", the "Company" or "Nexera") is providing its final status report (the "Default Status Report") in accordance with National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").

Further to the Corporation's press release dated June 6, 2023, the Corporation has now filed its Q1 financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the period ended March 31, 2023 (the "Q1 Filings"). Management of the Company was the subject of a management cease trade order ("MCTO") in regards to these Q1 Filings (which is in effect until two (2) full business days following the date the Q1 Filings are filed), as granted by its principal regulator, the Alberta Securities Commission.

As required by the alternative information guidelines specified by NP 12-203, the Company reports that since the Default Announcement and any subsequent press release disclosure there have not been any changes to the information set out in the Default Announcement that would reasonably be expected to be material to an investor nor any failure by the Company to fulfill its intentions as stated therein with respect to satisfying the provisions of the alternative information guidelines, and there are no additional defaults or anticipated defaults subsequent to the disclosure therein, other than the delay in filing the Q1 Filings. Further, there is no additional material information concerning the affairs of the Company that has not been generally disclosed and there are no insolvency proceedings against the Company as of the date of this Default Status Report.

For further information, please contact:

Nexera Energy Inc. President, Shelby D. Beattie, by telephone at (403) 262-6000
Email: info@nexeraenergy.com
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.

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

SOURCE: Nexera Energy Inc.