Pardee Resources Company To Sell West Virginia Property

RADNOR, Pa., June 15, 2026 /PRNewswire/ -- Pardee Resources Company (OTC: PDER) (the "Company") announced today that it has entered into a definitive agreement to sell approximately 2,465 acres of surface and mineral property located in West Virginia for $23,000 per acre or approximately $57 million dollars. The sale is subject to the satisfaction of certain contingencies and normal closing conditions and adjustments. The transaction is currently expected to close in the fourth quarter of 2026, however it is possible that the transaction does not close if certain contingencies or conditions outside of the Company's control are not satisfied. Accordingly, the Company can provide no assurance as to whether the transaction will close. The Company cannot provide any additional information at this time regarding the sale but will advise shareholders if, and when, the transaction closes or the transaction is terminated.

In addition to historical statements, this press release contains statements relating to future events, the pending transaction, and our future results. These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our judgments and future expectations concerning our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, risks related to the pending transaction, including the satisfaction of conditions precedent to closing, difficult economic conditions and other risks and uncertainties. As a result, these forward-looking statements may turn out to be incorrect. We are under no obligation to (and expressly disclaim any obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise.

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SOURCE Pardee Resources Company