Investment Strategy

In January 2020 Imperial X obtained shareholder approval to change its investment focus of seeking investment in the cannabis sector to that of seeking investment in the energy sector. Imperial X proposes to build a royalty platform business in the oil and gas sector, principally through the acquisition of royalties (such as gross overriding royalty interests) and other mineral interests which are expected to generate positive cashflows for the Company and therefore shareholder returns. The Board will initially focus its efforts on identifying suitable investments in oil and gas assets which are located in the producing and developed basins of onshore United States and which ideally offer the potential for building a regional portfolio of assets located within a particular area. Subsequent to this, the Company may look to acquire interests directly in undeveloped oil and gas assets and then seek to work with operating partners or other appropriate third parties in order to develop those assets and the production of commercially viable hydrocarbons.