Cunningham Natural Resources Corp Announces Potential $50 Million Financing for Drilling Programs and Acquisitions, Updates on Worldwide Diversified Holdings, Inc Listing and Potential Restructuring Benefits

Rhea-AI Summary

Cunningham Natural Resources Corp (OTC: CNRC) has announced potential financing of up to $50 million to support expanded drilling programs and strategic acquisitions in the US and Canada oil and gas sector. The capital will focus on developing well sites in West Virginia targeting the Big Injun, Weir, and Berea sandstone formations.

The company also reported progress on the listing of its portfolio company, Worldwide Diversified Holdings, Inc, which is expected to complete in Q2 2025. Worldwide has engaged a market maker and is finalizing regulatory compliance for OTC Markets trading.

Additionally, CNRC is evaluating a potential company restructuring aimed at increasing per-share price and improving market perception. The restructuring could enhance marketability, support uplisting eligibility to Nasdaq or NYSE, and strengthen the company's financial position.

Positive

• Potential $50 million financing to expand drilling operations and acquisitions
• Progress on Worldwide Diversified Holdings' OTC Markets listing
• Planned restructuring could improve share price and trading liquidity
• Potential uplisting opportunity to major exchanges (Nasdaq/NYSE)

Negative

• Financing terms and timeline not yet finalized
• Restructuring subject to shareholder approval and regulatory compliance
• Proposed initiatives still in early evaluation stages

CHARLESTON, W.Va., March 31, 2025 /PRNewswire/ -- Cunningham Natural Resources Corp (OTC: CNRC) ("CNRC" or the "Company") is pleased to provide a shareholder update regarding a potential financing of up to $50 million to support expanded drilling programs and strategic acquisitions of oil and gas companies in the United States and Canada. The Company also provides progress updates on the listing of its portfolio company, Worldwide Diversified Holdings, Inc ("Worldwide"), and outlines potential benefits of a broader restructuring initiative.

Potential $50 Million Financing for Growth Initiatives

CNRC is in discussions to secure financing of up to $50 million to fuel its growth strategy in the oil and gas sector. The capital will be directed toward expanding drilling programs, including the development of well sites in West Virginia targeting the Big Injun, Weir, and Berea sandstone formations, as well as pursuing strategic acquisitions of oil and gas companies across the U.S. and Canada. These efforts aim to bolster CNRC's production capacity and strengthen its position in key energy markets.

The Company views this financing as a critical step in leveraging its operational expertise to capitalize on favorable industry conditions while enhancing shareholder value. Further details on the financing terms and timeline will be shared as negotiations advance and agreements are finalized.

Update on Worldwide Diversified Holdings, Inc Listing

CNRC is excited to report continued progress on the listing of Worldwide Diversified Holdings, Inc on the OTC Markets. Worldwide has engaged a market maker and is finalizing the necessary regulatory steps, including compliance with Rule 15c2-11 via Form 211, to enable trading of its common stock. The listing remains on schedule for completion in Q2 2025.

This milestone will increase Worldwide's market visibility and access to capital, supporting its growth strategy in Ai technology, infrastructure, fintech, software, and telecommunications. Worldwide has also identified potential acquisitions slated for Q2 2025, further diversifying its investment portfolio.

Potential Restructuring Benefits

As part of its commitment to optimizing its capital structure and enhancing long-term shareholder value, CNRC is evaluating a potential company restructuring. If implemented, it would potentially increase the per-share price and improve market perception.

Key anticipated benefits include:

• Enhanced Marketability: A higher share price may attract a broader range of institutional investors and improve trading liquidity.
  
  
• Listing Eligibility: The restructuring could position CNRC to meet the minimum price requirements for uplisting to a senior exchange, such as Nasdaq or NYSE, in the future.
  
  
• Strengthened Financial Position: Combined with the potential $50 million financing and acquisition the restructuring could support CNRC's growth initiatives and signal confidence in its long-term prospects.

The Company is in the early stages of this evaluation and will provide further updates as decisions are finalized, subject to shareholder approval and regulatory compliance.

"We are at a pivotal moment for CNRC," said Frank Kristan, President of CNRC, "The potential $50 million financing will drive our oil and gas expansion, the Worldwide listing will unlock new opportunities, and a possible restructuring could strengthen our market position. Together, these initiatives reflect our dedication to delivering sustainable growth and value to our shareholders."

About Cunningham Natural Resources Corp

Cunningham Natural Resources Corp (www.cunninghamnaturalresources.com) will be focused on traditional oil and gas opportunities and energy transition materials including mining opportunities in copper, lithium, gold, as well as other precious and rare earth metals. The investment focus will be global with sustainability at the core of the strategy.

FORWARD-LOOKING STATEMENTS:

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.

Twitter: https://twitter.com/CunninghamCorp

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SOURCE Cunningham Natural Resources Corp

FAQ

What is the purpose of CNRC's $50 million financing initiative?

The financing will fund expanded drilling programs in West Virginia and strategic acquisitions of oil and gas companies across the US and Canada to increase production capacity.

When is Worldwide Diversified Holdings expected to complete its OTC Markets listing?

The listing is scheduled for completion in Q2 2025, following market maker engagement and Rule 15c2-11 compliance via Form 211.

What are the potential benefits of CNRC's proposed restructuring?

The restructuring aims to increase share price, attract institutional investors, improve trading liquidity, and position CNRC for potential uplisting to Nasdaq or NYSE.

Which geological formations is CNRC targeting in West Virginia?

CNRC is targeting the Big Injun, Weir, and Berea sandstone formations for well site development in West Virginia.