Early Warning Report Issued Pursuant to National Instrument 62-103 in Connection with the Closing of the Private Placement of Silk Energy Limited

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Toronto, Ontario–(Newsfile Corp. – May 5, 2022) – Bowview B Pte. Ltd. (“Bowview“), announces that it has filed an early warning report (the “Early Warning Report”) under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the purchase of in a private placement (the “Private Placement“) of Silk Energy Limited (the “Company”) on May 3, 2022.

On May 3, 2022, Bowview acquired 53,500,000 common shares (“Common Shares“) of the Company in the amount of $18,725,000 at a price of $0.35 per Common Share.

Prior to the completion of the Private Placement, Bowview did not hold directly or indirectly, and/or have control and direction over any securities of the Company.

Upon completion of the Private Placement, Bowview holds directly or indirectly, and/or has control and direction over an aggregate of 53,500,000 Common Shares of the Company, representing 19.99% of the outstanding Common Shares of the Corporation on an undiluted basis.

Bowview may acquire additional securities of the Company, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position, depending on market conditions and other relevant factors.

A copy of the Early Warning Report filed by Bowview will be available under the Company’s profile on SEDAR at www.sedar.com.

Contact Information

Bowview B Pte. Ltd.

Phone: + 6593365370

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122994