FRANK GIUSTRA UPDATES SHARE POSITION IN MCF ENERGY

VANCOUVER, BC, Jan. 25, 2023 /CNW/ - MCF Energy Ltd. (TSXV: MCF) (FRA: DC6) ("MCF Energy" or the "Company") the Company announces that Mr. Frank Giustra directly acquired an aggregate of 1,200,000 common shares in a series of transactions through the facilities of the TSX Venture Exchange. Prior to the acquisition of common shares, Mr. Giustra and his related entities directly and indirectly owned 17,700,000 common shares of MCF Energy, representing approximately 9.61% of the outstanding common shares of the Company. Following the acquisition of common shares, Mr. Giustra, directly and indirectly now owns 18,900,000 common shares of MCF Energy, representing approximately 10.26% of the outstanding common shares of the Company.

Mr. Giustra may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant. A copy of the Early Warning Report filed by Mr. Giustra may be obtained from the Company's SEDAR profile.

For corporate updates, please register to our mailing list at www.MCFEnergy.com and follow us at www.Twitter.com/MCFEnergy. Additional information on the Company and the Transaction is available at www.sedar.com under the Company's profile.

About MCF Energy

MCF Energy believes the answer to Europe's energy security is right beneath the surface. The Company's goal is to find new natural gas discoveries in Europe and create wealth for its stakeholders. MCF Energy has secured interests in two significant natural gas exploration projects in Austria and Germany and is evaluating additional opportunities. The Company's leaders have extensive experience in the European energy sector and are working to develop a cleaner, cheaper, and more secure natural gas industry as a transition to renewable energy sources.

Cautionary Statements:

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE MCF Energy Ltd.

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