LUCERO ENERGY CORP. ANNOUNCES COMPLETION OF ACQUISITION BY VITESSE ENERGY, INC.

CALGARY, AB, March 7, 2025 /CNW/ - Lucero Energy Corp. ("Lucero") (TSXV:LOU.VN) (OTC-BB:PSHIF) is pleased to announce the completion of the acquisition by Vitesse Energy, Inc. ("Vitesse"). As previously announced, all outstanding common shares of Lucero (the "Lucero Shares") were acquired by Vitesse pursuant to a plan of arrangement under Section 193 of the Business Corporations Act (Alberta) (the "Arrangement"). Under the Arrangement, holders of Lucero Shares ("Lucero Shareholders") have the right to receive 0.01239 of a share of common stock of Vitesse ("Vitesse Shares") for each one Lucero Share held, and on completion of the Arrangement, Lucero became a wholly owned subsidiary of Vitesse. No fractional Vitesse Shares will be issued under the Arrangement. In the event the aggregate number of Vitesse Shares to be issued to a Lucero Shareholder pursuant to the Arrangement would result in a fraction of a Vitesse Share being issued, such Lucero Shareholder will receive the nearest whole number of Vitesse Shares. For greater certainty, where such fractional interest is greater than or equal to 0.5, the number of Vitesse Shares to be issued will be rounded up to the nearest whole number and where such fractional interest is less than 0.5, the number of Vitesse Shares to be issued will be rounded down to the nearest whole number.