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RIVERSTONE PIPESTONE LP CONVERTS ALL OF ITS PREFERRED SHARES IN PIPESTONE ENERGY CORP.

NEW YORK, Oct. 6, 2022 /CNW/ - Riverstone Pipestone LP ("Riverstone") voluntarily converted all of its convertible preferred shares ("Preferred Shares") of Pipestone Energy Corp. (the "Company") for common shares of the Company ("Common Shares") in accordance with the terms of such Preferred Shares (the "Conversion").

Immediately prior to the Conversion, Riverstone held 52,690 Preferred Shares. Riverstone received 70,711,226 Common Shares in connection with the Conversion, representing approximately 25% of the Common Shares that Riverstone understands to be issued and outstanding immediately following the Conversion.

The Conversion was effected for investment purposes. Subject to applicable law, Riverstone may from time to time acquire additional securities of the Company or redeem, convert or otherwise dispose of such securities.

The address of the Company is Suite 3700, 888 – 3rd Street S.W. Calgary, AB T2P 5C5. The address of Riverstone is c/o Riverstone Netherlands BV, Herengracht 450, 1017CA Amsterdam, Netherlands.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Company's documents on the System for Electronic Document Analysis and Retrieval at www.sedar.com.

SOURCE Riverstone Pipestone LP

View original content: http://www.newswire.ca/en/releases/archive/October2022/06/c4543.html