Green Mountain Announces Completion of Spinouts Pursuant to a Plan of Arrangement

Vancouver, British Columbia--(Newsfile Corp. - April 10, 2026) - Green Mountain Resources Ltd. ("GMR" or the "Company") announces that it has completed its previously announced plan of arrangement (the "Arrangement") to spinout two of its wholly-owned subsidiaries, Blue Mountain Resources Ltd. ("Blue") and Emerald Mountain Resources Ltd. ("Emerald"), to the existing shareholders of the Company (the "GMR Shareholders"). The Arrangement was approved at the Company's special meeting held on April 2, 2026, and the Supreme Court of British Columbia issued its final order approving the Arrangement on April 9, 2026. Under the terms of the Arrangement, on April 10, 2026, each GMR Shareholder received: (i) one new common share of the Company for each existing common share of the Company (each, an "Old Share"); and (ii) one common share in the capital of each of Blue and Emerald for each Old Share held. Following completion of the Arrangement, Blue and Emerald have each become independent reporting issuers in the Provinces of British Columbia, Alberta, and Ontario.

For complete details of the Arrangement, readers are encouraged to review the Arrangement Agreement that is currently available under the Company's profile on SEDAR (www.sedar.com). SEDAR+ (www.sedarplus.ca).

Forward-Looking Statements

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to Arrangement, including the timing thereof; the status of Blue and Emerald as independent reporting issuers and the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

Forward-looking statements are based on the beliefs and expectations of management as of the date of this news release and are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, no assurance can be given that these expectations will prove to be correct. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292049