Mergers and Acquisitions:

• Mullen Group Ltd. (TSX:MTL) closed the acquisition of Cole Group Inc., Cole International Inc., Abco International Freight Inc. and all related entities effective June 1, 2025. The target is a full spectrum logistics services company specializing in customs brokerage, freight forwarding and trade consulting with 43 locations across Canada and the U.S.

• E&P: Logan Energy Corp. (TSXV:LGN) closed the previously announced sale of a 35% non-operated working interest in the Pouce Coupe facility in BC to Topaz Energy Corp. (TSX:TPZ) for $26MM.

Other:

• STS Renewables Ltd., Earth Drilling Co. Ltd., On Track Drilling Inc., STS Renewables Earth USA Acquisition Co. Ltd., Earth Drilling Co. Ltd., Harris Exploration Drilling & Associates, Inc., Subterra Capital Partners Inc., Subterra Development Ltd., and Subterra Capital Partners US Inc. launched a Court-approved sale and investment solicitation process. The group of companies provide renewable heating and cooling to multi-residential building developers, as well as provides drilling services to oil and gas, mineral exploration, environmental and geotechnical industries.

• Cenovus Energy (TSX:CVE) and MEG Energy (TSX:MEG) evacuated all non-essential personnel at its Christina Lake operational facilities due to the threat of regional wildfires.

• As per Statistics Canada, Q1 GDP increased by 2.2% on an annualized basis, primarily driven by US companies stockpiling goods before the implementation of US tariffs. Capital investment in machinery and equipment increased by 5.3% during the quarter.

• As per the Energy Information Administration, US crude oil production increased to 13.49MM bbls/d in March 2025, exceeding the 13.16MM bbls/d in February and the previous all-time high of 13.45MM bbls/d recorded in October 2024.