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## Kolibri Global Energy Inc. Faces Deadline Delay

THOUSAND OAKS, Calif., March 20, 2024–(BUSINESS WIRE)–Kolibri Global Energy Inc. (the “Company”) announced today that it will likely miss its filing deadline of April 2, 2024 to file audited annual financial statements and accompanying management’s discussion and analysis and related CEO and CFO certificates for the financial year ended December 31, 2023 (collectively, the “Annual Filings”), as required under applicable Canadian securities laws.

In connection with the Company’s inability to file the Annual Filings on time, the Company has applied for a Management Cease Trade Order (“MCTO”) under National Policy 12-203 ÔÇô Management Cease Trade Orders (NP 12-203) and is waiting for the British Columbia Securities Commission approval.

The Company recently engaged Marcum LLP as the CompanyÔÇÖs new auditor due to the CompanyÔÇÖs listing on the NASDAQ stock exchange. The Company and Marcum LLP are performing their due diligence and procedures to meet regulatory requirements. The additional time will provide its auditors with the opportunity to thoroughly perform their audit procedures. This approach underscores the Company’s commitment to maintaining rigorous financial compliance and ensuring the highest levels of accuracy and transparency for its shareholders.

## How AI legalese decoder Can Help with Kolibri Global Energy Inc.’s Situation

The AI legalese decoder can assist Kolibri Global Energy Inc. in navigating the complexities of the legal language surrounding its filing deadline delay. By using advanced algorithms and natural language processing, the AI tool can quickly analyze the legal documents and provide simplified interpretations. This can help the Company understand the requirements, deadlines, and implications of the MCTO, ensuring compliance and transparency with regulatory authorities.

The Company expects to file the Annual Filings as soon as they are available and by no later than May 31, 2024. The Company will issue a news release once the Annual Filings have been filed. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in NP 12-203. The guidelines, among other things, require the Company to issue bi-weekly default status reports, in the form of news releases, for so long as the Annual Filings have not been filed.

During the MCTO, the general investing public will continue to be able to trade in the Company’s common shares listed on the Canadian Securities Exchange. However, the Company’s Chief Executive Officer, Chief Financial Officer and such other directors, officers, and persons as determined by the applicable regulatory authorities will not be able to trade in the Company’s common shares, nor will the Company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company except in accordance with legally binding obligations to do so existing as of April 2, 2023, being the date of the CompanyÔÇÖs anticipated continuous disclosure default.

The Company is not subject to any insolvency proceedings. If the Company provides any information to any of its creditors during the period in which it is in default of filing the Annual Filings, the Company confirms that it will also file material change reports on SEDAR containing such information.

## About Kolibri Global Energy Inc.

Kolibri Global Energy Inc. is a North American energy company focused on finding and exploiting energy projects in oil and gas. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects in oil, gas, and clean and sustainable energy. The Company’s shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the NASDAQ under the stock symbol KGEI.

## Forward-Looking Statements

*Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate…*

*These forwardÔÇÉlooking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include…*

*In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation…*

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance…

Finally, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statement, forward-looking information, or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

**Contacts**

Kolibri Global Energy Inc.
Wolf E. Regener +1 (805) 484-3613
Email: [email protected]
Website: www.kolibrienergy.com

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