Longspur Research Report

This research report attached has been prepared by Longspur Capital (Longspur) (Research Report). The Research Report has been commissioned by Provaris Energy Ltd (Provaris).

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The information and content contained in the Research is intended to be used or viewed solely in jurisdictions where it is lawful to do so. If you access the Research Report, you must inform yourself about, and comply with, applicable laws and regulations, including (without limitation) observing securities laws and regulations in jurisdictions that impose restrictions on the distribution of such Research Reports.

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The views expressed in the Research Report are those of Longspur and no part of the compensation received by Longspur is directly related to the inclusion of specific recommendations or opinions.

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Provaris, its directors, officers, employees, associates, affiliates and agents (Provaris Parties) disclaim all liability and responsibility for any direct or indirect loss, or damage, which may be incurred by any recipient through any information, omission, error, or inaccuracy contained in the Research Report.  By providing access to the Research Report, the Provaris Parties’ do not endorse or accept any liability for the content of the Research report. All information, opinions, conclusions, estimates or recommendations provided in the Research Report have been prepared by Longspur and the Provaris Parties make no representation or warranty as to the accuracy, completeness, or reliability of information prepared by Longspur, including any price target, valuations, earnings forecast or other statements (including forward-looking statements) about Provaris’ business activities.

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To the extent any recommendations or statements of opinion or fact made in the Research Report constitutes financial advice, they constitute general information and not personal financial advice in any form. As such, any recommendations or statements do not take into account the financial circumstances, investment objectives, tax implications, or any specific requirements of the recipient. Recipients of information should not act on any recommendation without first taking appropriate steps to verify the information in the Research Report, consulting their independent investment advisor in order to ascertain whether the recommendation (if any) is appropriate, having regard to their investment objectives, financial situation and particular needs. Providing access to the Research Report should not be construed as investment advice or a solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction by Provaris.

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The information provided in the Research Report may include projections, targets, opinions, forecasts and/or estimates, which constitute forward-looking statements. These expressed beliefs of future performance, events, results, or returns may not eventuate and as such no guarantee of these future scenarios is given or implied by Provaris. The past performance of Provaris cannot be relied upon as a guide to its future performance.

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The Research Report is only be current as at the date of the Research Report, and as such, may be subject to change. Provaris accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in the Research Report or any other information made available to a person, nor any obligation to furnish the person with any further information.

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By proceeding to access the Research Report you confirm and agree that your access does not violate applicable laws, including the laws of your home jurisdiction and you have read, understood and accept the disclaimer as outlined above.

By accessing the report you agree to the above disclaimer.