Fiddlehead Announces Updated Corporate Presentation Related to Strategic Transformational Acquisition

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, AB, April 16, 2025 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead" or the "Company") (TSXV: FHR) is pleased to announce that the Company has updated its corporate presentation for interested investors and key stakeholders, which can be accessed on Fiddlehead's website at www.fiddleheadresources.com/investors. The corporate presentation contains detailed information related to the strategic transformational acquisition of upstream producing assets near Cynthia, Alberta, as disclosed on April 10, 2025, increasing the Company's pro forma production to 3,850 boe/d and proved developed producing (PDP) NPV10% for an aggregate of $80.2 million.

The TSXV has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. 

Cautionary Note Regarding Forward Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions which are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information concerning: the Transaction and anticipated closing thereof; the proposed structure by which the Transaction is to be completed; the Company's anticipated source of funds for satisfaction of the Purchase Price; the availability and amount of the Debt Facility, the terms and conditions on which funds may be advanced thereunder, and anticipated closing thereof; financial and operating forecasts with respect to the Cynthia Assets; closing of the anticipated private placement; the Company's intention to exploit the reservoirs and the Company's long term business strategy with respect to the Cynthia Assets; anticipated production from the Cynthia Assets and corresponding LMR; anticipated incremental PDP, projected upside of unbooked drilling locations; the expected operating and financial performance of the Cynthia Assets; exploration upside of the Cynthia Assets; cash flow projections and anticipated accretive nature to shareholders and release of prospective 2025 guidance. Fiddlehead cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of Fiddlehead, including expectations and assumptions concerning Fiddlehead, the Transaction, the timely receipt of all required TSXV and regulatory approvals and exemptions (as applicable), Alberta Energy Regulatory (AER) approvals, if any and as applicable, the satisfaction of other closing conditions in accordance with the terms of the Purchase Agreement and Debt Facility. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Fiddlehead. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this news release are made as of the date of this news release, and Fiddlehead does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

Abbreviations

boe/d

barrels of oil equivalent per day

SOURCE Fiddlehead Resources Corp.

For further information contact: Fiddlehead Resources Corp., Brent Osmond, CEO and Chairman, Phone No.: [phone], Email: [email protected]