Authorities of Quebec passes Invoice 21

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CALGARY, Alberta, April 13, 2022 (GLOBE NEWSWIRE) — Questerre Vitality Company (“Questerre” or the “Firm”) (TSX,OSE:QEC) reported in the present day that the Authorities of Quebec has handed Invoice 21, An Act primarily to finish petroleum exploration and manufacturing and the general public financing of these actions.

Michael Binnion, President and Chief Government Officer, commented, “We’re extremely dissatisfied that the Authorities of Quebec has chosen to proceed with this laws. By blocking the event of its pure gasoline sources with zero-emissions expertise for export, Quebec is lacking an vital alternative to work with different nations to supply safe, dependable power for our European allies. It additionally leaves the province extremely depending on imports of pure gasoline and petroleum that meet greater than half their power wants. Furthermore, this does nothing to really cut back greenhouse gasoline emissions in Quebec or globally.”

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He added, “We had been additionally deeply dissatisfied to see that the Authorities did not honor their authorized obligations to seek the advice of with the Wolinak of Abenaki First Nation who’ve partnered with us to develop their land. The Wolinak Abenaki Council has known as on the Authorities to respect and have interaction with them for improvement on their conventional territory. If the Authorities declines this invitation, the Council can have no selection however to proceed with its declare by acquiring an ancestral aboriginal title.”

He additional added, “As we await Invoice 21 to return into power, we will likely be assessing our authorized choices to protect the rights of our shareholders.”

Invoice 21 was accredited by the elected representatives of the Nationwide Meeting in Quebec. A provisional copy of the laws is obtainable on-line at http://www.assnat.qc.ca/en/travaux-parlementaires/projets-loi/projet-loi-21-42-2.html. It has acquired the assent of the Lieutenant Governor of Quebec. The regulation, in complete or in elements, will come into power on the Authorities’s discretion following the finalization of the related rules together with the proposed compensation program.

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Questerre is an power expertise and innovation firm. It’s leveraging its experience gained by way of early publicity to low permeability reservoirs to amass important high-quality sources. We consider we are able to efficiently transition our power portfolio. With new clear applied sciences and innovation to responsibly produce and use power, we are able to maintain each human progress and our pure setting.

Questerre is a believer that the long run success of the oil and gasoline business will depend on a stability of economics, setting, and society. We’re dedicated to being clear and are respectful that the general public should be a part of making the vital selections for our power future.

Advisory Relating to Ahead-Wanting Statements

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This information launch accommodates sure statements which represent forward-looking statements or data (“forward-looking statements”) together with the Firm’s views on Invoice 21 and its plans to evaluate authorized choices to protect the rights of its shareholders.

Ahead-looking statements are based mostly on a number of materials elements, expectations or assumptions of Questerre which have been used to develop such statements and data, however which can show to be incorrect. Though Questerre believes that the expectations mirrored in these forward-looking statements are cheap, undue reliance shouldn’t be positioned on them as a result of Questerre can provide no assurance that they may show to be appropriate. Since forward-looking statements deal with future occasions and circumstances, by their very nature they contain inherent dangers and uncertainties. Additional, occasions or circumstances might trigger precise outcomes to vary materially from these predicted on account of quite a few recognized and unknown dangers, uncertainties, and different elements, lots of that are past the management of the Firm, together with, with out limitation: the implementation of Invoice 21 by the Authorities of Quebec and sure different dangers detailed from time-to-time in Questerre’s public disclosure paperwork. Further data concerning a few of these dangers, expectations or assumptions and different elements could also be discovered below within the Firm’s Annual Info Type for the yr ended December 31, 2021, and different paperwork accessible on the Firm’s profile at www.sedar.com. The reader is cautioned to not place undue reliance on these forward-looking statements. The forward-looking statements contained on this information launch are made as of the date hereof and Questerre undertakes no obligations to replace publicly or revise any forward-looking statements, whether or not on account of new data, future occasions or in any other case, except so required by relevant securities legal guidelines.