Whitemud Provides Operational and Debt Update
{03061548‐1}
WHITEMUD PROVIDES OPERATIONAL AND DEBT UPDATE
Calgary, March 24, 2020 – Whitemud Resources Inc. (“Whitemud” a nd the “Company”) (NEX –
“WMK.H”) is pleased to announce that its LPG division, Midstrea m Energy Partners, has secured
new LPG sales contracts for the upcoming contract year commenci ng April 1, 2020 and ending
March 31, 2021. The supply for these contracts was also establi shed. Together these contracts
are anticipated to provide sufficient cash flow to support oper ations through Q1 2021 and allow
the Company to maintain its discretionary debt reduction plan a nnounced on December 30, 2019
(the “Debt Reduction Plan”).
Based on the new purchase and supply contracts and current cash reserves, the Company has
determined to reduce the principal on its outstanding secured l oans in accordance with the Debt
Reduction Plan by the amount of $500,000.
Commenting on these developments the CEO of the Company, Stan O werko stated that “the
execution of profitable supply and sales contracts by the LPG d ivision during challenging market
conditions is an important achievement for the Company and supp orts an increase in the debt
reduction during 2020”.
About Whitemud Resources Inc.
Whitemud is a Canadian-based corporation engaged in the busines s of commodity marketing
and logistics through Midstream Energy Partners, a division of Whitemud Resources Inc. formed
in 2015.
Whitemud also holds mineral rights to exploit a large kaolin de posit in southern Saskatchewan,
together with a processing facility located on the property. Wh itemud’s product, Whitemud (MK)
is a cement-grade metakaolin that enhances the performance of c ement for oil and gas wells and
construction applications. The Company uses a process that minimizes environmental impact.
For further information, please contact:
Whitemud Resources Inc.
General Inquiries
Suite 3900, 205 5th Avenue SW
Calgary, Alberta T2P2V7
Telephone: 403-266-1985
Reader Advisory
This news release contains forward-looking statements, within t he meaning of applicable
securities legislation, concerning Whitemud’s business and affa irs. In certain cases, forward-
looking statements can be identified by the use of words such a s ‘‘attempts’’, ‘‘intends’’,
“continues” or variations of such words and phrases or state that certain actions, events or results
‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will be taken’’, ‘‘occur’’ or ‘‘be achieved’’. These statements
involve known and unknown risks, uncertainties and other factor s that may cause actual results
or events to differ materially from those anticipated in such f orward-looking statements. Although
Whitemud believes these statements to be reasonable, no assuran ce can be given that these
expectations will prove to be correct and such forward-looking statements included in this news
release should not be unduly relied upon. Such statements inclu de statements with respect to (i)
Whitemud having sufficient cash flow to support operations through Q1 2021; and (ii) Whitemud’s
ability to maintain its Debt Reduction Plan. Actual results cou ld differ materially from those
anticipated in these forward-looking statements as a result of prevailing economic conditions, and
other factors, many of which are beyond the control of Whitemud . The forward-looking
statements contained in this news release represent Whitemud’s expectations as of the date
{03061548‐1}
hereof, and are subject to change after such date. Whitemud dis claims any intention or obligation
to update or revise any forward-looking statements whether as a result of new information, future
events or otherwise, except as may be required by applicable securities regulations.
Neither the TSXV 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.
Not for distribution to United States Newswire Services or for dissemination in the United States.