BUTTE ENERGY ANNOUNCES PRIVATE PLACEMENT

TSXV – BEN.H

VANCOUVER, BC, April 26, 2023 /CNW/ - Butte Energy Inc.  (TSXV: BEN.H) (the "Company") announces a non-brokered private placement of 1,250,000 units (each, a "Unit") at a price of $0.20 per Unit for gross proceeds of $250,000.  Each Unit consists of one common share of the Company, and one common share purchase warrant (each, a "Warrant"). Each whole Warrant entitles the holder to acquire an additional common share of the Company at a price of $0.30 per share for 1 year from the date of the closing of the offering (the "Closing Date"). The Company intends to use the proceeds for general working capital.

The private placement is subject to regulatory approval.

On behalf of BUTTE ENERGY INC.

"Geir Liland"
Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward– looking statements". Forward–looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward–looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward–looking statements.

SOURCE Butte Energy Inc.

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