Beta Energy Announces Resignation of Directors & Officers

VANCOUVER, BC, Feb. 12, 2025 /CNW/ – Beta Energy Corp. (“Beta” or the “Company“) today announces that all of the directors and officers of Beta and Kaden Energy Ltd., a wholly-owned subsidiary of the Company (” Kaden “), have resigned, with the exception of Wes Siemens, who remains President and CEO of Kaden.

A hearing will be held in the morning of February 13^th, 2025, at which time it is expected that Beta’s senior secured creditor will seek to appoint a receiver over both of Beta and Kaden.

About Beta Energy Corp.

Further information about the Company is available under its profile on the SEDAR+ website, www.sedarplus.ca.

ON BEHALF OF THE BOARD OF DIRECTORS

“Brad Nichol“

Brad Nichol

President and Chief Executive Officer

Forward-Looking Statements

This news release contains forward-looking statements and other statements that are not historical facts, including statements regarding the appointment of a receiver by the Company’s senior secured lender. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipates”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. 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 the Company. 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 news 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 the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

SOURCE Beta Energy Corp.