Letho Resources Corp. (TSXV:LET.H) entered into a Purchase and Sale Agreement to acquire Certain Producing Oil and Gas Assets in Central Alberta from Vermilion Resources, Inc. for CAD 2.1 million on July 7, 2022. Total consideration for
the acquisition is CAD 2.1 million in cash, subject to adjustments. Letho Resources has arranged an unsecured convertible debenture financing for gross proceeds up to CAD 2.1 million. The proceeds of the Debenture financing will be applied to fund the acquisition. Purchaser shall pay Vendor $100,000.00 as consideration for terminating this agreement as per this Clause. Closing of the acquisition is expected to occur on or about August 31, 2022, subject to the receipt of any necessary regulatory approvals, including, without limitation, the approval of the TSX Venture Exchange.