Paleo Resources Announces Proposed Shares for Debt Transaction

CALGARY, Alberta, March 10, 2021 (GLOBE NEWSWIRE) — Paleo Resources, Inc. (“Paleo” or the “Corporation”) (TSX-V: PRE, OTCQB: PRIEF) announced today that the entire amount of the existing loan from
Energy Reserve Capital, LLC to the Corporation’s wholly-owned subsidiary, Paleo Resources (USA), Inc. has been assigned to Roger S. Braugh, Jr., a director and officer of Paleo, and Chris Pettit