NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR ‎DISSEMINATION IN THE UNITED STATES

CALGARY, AB / ACCESSWIRE / December 14, 2020 / New Stratus Energy Inc. (TSXV:NSE)(OTC PINK:RDRIF) ("New Stratus" or the "Corporation") is pleased to announce that it has completed a non-brokered private placement of ‎‎3,275,000‎ ‎units ("Units") at a price of $0.40 per Unit for gross proceeds of $‎‎1,310,000 (the "Offering"). Each Unit issued pursuant to the Offering is comprised of one common share of the Corporation ("Common Share") and one-half of one common share purchase warrant ("Warrant"), with each whole Warrant entitling the holder to acquire one Common Share at a price of $0.55 per Common Share until December 14, 2022.

The net proceeds from the Offering will be used by the Corporation for exploration activities in its block VMM-18, the evaluation of other opportunities, and general corporate purposes. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including final acceptance of the TSX Venture Exchange.

All securities issued in connection with the Offering are subject to a four-month hold period, which expires on April 15, 2021. Following the completion of the Offering, the Corporation has ‎61,090,445 ‎Common Shares issued and outstanding.

Contact Information:

Jose Francisco Arata
Chief Executive Officer
jfarata@newstratus.energy ‎

Mario A. Miranda
Chief Financial Officer
mmiranda@newstarus.energy / ‎(416) 363-4900

Forward-Looking Information and Reader Advisory

Certain information set out in this news release constitutes forward-looking information, including information relating to the Offering and the use of process therefrom. Forward-looking statements (often, but not always, identified by the use of words such as ‎‎"expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not ‎statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the ‎opinions, expectations and estimates of management of the Corporation as at the date the statements are made and are subject to a ‎variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially ‎from those anticipated or implied by such forward-looking statements. In light of the risks and uncertainties associated with forward-looking statements, readers are ‎cautioned not to place undue reliance upon forward-looking information. Although the Corporation believes that the expectations ‎reflected in the forward-looking statements set out in this news release, it can give ‎no assurance that such expectations will prove to have been correct. The forward-looking statements of the Corporation contained in this ‎news release are expressly qualified, in their entirety, by this cautionary statement.‎