RocketFrac Cleantech Announces Termination of Proposed Reverse Takeover With Pacific Arc Resources

CALGARY, AB, March 15, 2023 /CNW/ - RocketFrac Services Ltd. ("RocketFrac Cleantech" or the "Company'), an innovative cleantech energy services company, announces the mutual termination of its letter of intent dated March 16, 2022 (the "LOI") with Pacific Arc Resources Ltd., a corporation listed on the NEX Board of the TSX Venture Exchange, all in accordance with the terms of the LOI.

The proposed qualifying transaction (as described in the Company's press release dated March 23, 2022) will not proceed at this time.

About RocketFrac Cleantech

RocketFrac Cleantech is an innovative energy service company developing technologies to unlock tight reservoirs with a lower environmental footprint than alternatives. By eliminating the need to use water in the fracking process, RocketFrac Cleantech's patent-pending proprietary technology conserves this important resource, while lowering carbon emissions, and improving operational efficiency. This approach respects Environment, Social and Governance (ESG) commitments, while contributing to critical energy independence needs around the world.

Founded in 2017, and headquartered in Canada, RocketFrac Cleantech is working with international representatives in multiple markets to bring its unique fracking technology to a global customer base.

SOURCE RocketFrac Services Ltd.

RocketFrac Cleantech Investor Relations, +1 [phone], [email protected]