MCF Energy Ltd. — M&A Activity 2022

Feb 18, 2022

PINEDALE ENERGY LIMITED RECEIVES NOTICE OF TERMINATION OF AGREEMENT FROM FLAVOCURE BIOTECH, INC

VANCOUVER, BRITISH COLUMBIA – February 17, 2022 - Pinedale Energy Limited (TSXV: MCF) (“ Pinedale ” or the “ Corporation ”), reports that, further to its news releases dated May 25, 2020, June 26, 2020, July 29, 2020, October 6, 2020, May 20, 2021, June 18, 2021, and July 16, 2021, on February 15, 2021 the Corporation received formal notice that Flavocure Biotech, Inc. (" Flavocure ") had terminated the agreement with respect to a proposed business combination between the Corporation and Flavocure.

The Corporation will continue to diligently look to build revenue through the identification and evaluation of acquisitions of synergistic businesses or assets or joint ventures with strategic partners. Such transactions will be subject to regulatory and other approvals.

For further information please contact:

Pinedale Energy Limited

Claus Andrup Interim Chief Executive Officer Email: clausandrup@me.com Contact: 604-341-4691

Cautionary Statements

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.