Hertz Energy Inc. Announces Change of Directors and Option Grant

Vancouver, British Columbia–(Newsfile Corp. – March 15, 2024) – Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QE2) (the “Company“) announced today the resignation of independent director Robert W. Barker and the appointment of Jamie L. Hogue to fill the vacancy on the Company’s board of directors (the “Board“).

Robert W. Barker joined Hertz as a founding Board member in February of 2022. Dr. Barker has more than 45 years of experience in successful, multi-commodity mining exploration, with 29 years in exploration and acquisition leadership.

“On behalf of the Board and management, we would like to thank Robert for his valuable contribution as a founding director of the Company and throughout his subsequent tenure. We wish him the best with his future endeavours,” expressed Kal Malhi, CEO of the Company.

Jamie L. Hogue brings more than two decades of strategic leadership and financial analysis experience to drive growth and financial success. With a focus on business scaling, her expertise covers energy, natural resources, water, and sustainability. Ms. Hogue’s track record includes developing collaborative frameworks and innovative solutions to enhance organizational resilience and achieve sustainable financial success. Ms. Hogue currently serves in executive roles in the public and private sector as well as academia. She earned her bachelor’s degree in economics and master’s degree in public administration from Arizona State University.

The Board has granted stock options (the “Options“) to Jamie Hogue to purchase 150,000 common shares in the capital of the Company (the “Shares“) pursuant to a consulting agreement between Ms. Hogue and the Company. The Options, which vest over a period of one year, are exercisable at an exercise price of $0.20 per Share for a period of five (5) years from the date of grant.

About the Company

Hertz Energy is a British Columbia-based junior exploration company primarily engaged in the acquisition and exploration of energy metals mineral properties. Hertz owns 100% interest in the the Cominco uranium property located in Bathurst Inlet, Nunavut, Canada which was last explored in the mid 1970s by Cominco and Noranda with positive early results. The company’s lithium exploration projects include the Lucky Mica lithium project, the district scale AC/DC and Snake lithium projects in James Bay, Quebec and the Patriota lithium project along the Eastern Brazilian Pegmatite Belt in Minas Gerais, Brazil. Hertz is also partnered with Penn State University to develop a patent-pending process for extracting lithium from hard rock lithium-bearing materials.

For further information, please contact Mr. Kal Malhi or view the Company’s filings at www.sedar.com.

On Behalf Of the Board of Directors

Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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