ProAm Explorations Corporation — Capital/Financing Update 2020

Jul 6, 2020

ProAm Ex lorations Cor oration p p

Osec Petroleum Inc. Osec Petroleum Canada Limited

867 West 3[rd] Street, North Vancouver, BC, Canada V7P 1E2 Telephone: 604-988-3306 Facsimile: 604-985-6340

NEWS RELEASE

Vancouver, British Columbia, July 6, 2020 – ProAm Explorations Corporation (“ProAm” or “ the Company ”) (TSX.V:PMX) announces that it has closed its private placement previously announced on May 14, 2020 and May 19, 2020, by issuing 3,385,000 units for gross proceeds of $236,950. Each unit is comprised of one common share of the Company and one share purchase warrant. Each common share purchase warrant will allow the holder to acquire an additional common share of the Company at a price of $0.15 per share for a period of two years from the date of closing of the non-brokered private placement (the “warrant”), subject to certain acceleration provisions.

The units are subject to a hold period expiring on November 4, 2020. In connection with the private placement, the Company paid, in the aggregate, cash finder’s fees of $4,480.

Due to insider participation in the private placement, it is considered a related party transaction within the meaning of Multilateral Instrument 61-101 (“MI 61-101”). The participation is exempt from the need to obtain minority shareholder approval and a formal valuation on the basis that insider participation is less than 25% of the Issuer’s market capital.

On behalf of the Board of Directors of ProAm Explorations Corporation

Donald L. MacDonald President /Director

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.