NOTICE OF EXTENSION - PHASE 1 BID DEADLINE RE VERTEX DOWNHOLE LTD. ("VERTEX") SALES AND INVESTMENT SOLICITATION PROCESS

CALGARY, AB, April 28, 2022 /CNW/ - In accordance with a Court Order of the Court of Queen's Bench of Alberta dated March 4, 2022, MNP Ltd., in its capacity as the Proposal Trustee under the Notice of Intention to make a Proposal of Vertex (the "Proposal Trustee") pursuant to the Bankruptcy and Insolvency Act is conducting a sales and investment solicitation process ("SISP") relating to the business and/or assets of Vertex's downhole tool business and intellectual property. Interested parties are invited to review the SISP information summary on our webpage at:

https://mnpdebt.ca/en/corporate/corporate-engagements/vertex-downhole-ltd

The Proposal Trustee has extended the Phase 1 Bid Deadline under the SISP to May 6, 2022. Letters of Intent must be received by the Proposal Trustee via mail, email, courier or facsimile by on or before 12:00 pm MDT.

To receive access to the confidential information memorandum and access to the virtual data room, a signed copy of the confidentiality and non-disclosure agreement attached to the SISP information summary must be completed and returned to Jacqueline Shellon via email at [email protected] .

SOURCE MNP Ltd.