NEXERA ENERGY (FORMERLY EMERALD BAY) CONFIRMS NAME CHANGE/CONSOLIDATION

Nexera Energy Inc. (TSX Venture: NGY) (formerly Emerald Bay Energy Inc. (TSX Venture: EBY)) (the “Corporation”, the “Company” or “Nexera”) today announced that, further to its press release dated March 2, 2020 and further to the shareholder approvals received at its special meeting of the Company’s shareholders held on February 28, 2020 (the “Special Meeting”), the Corporation will, effective March 17, 2020: (i) complete its consolidation of the issued and outstanding Common Shares of the Corporation on a “1 new for 15 old” basis (the “Consolidation”); and (ii) change the Corporation’s name to “Nexera Energy Inc.” (the “Name Change”). The Board of Directors believes that the Consolidation could lead to increased interest by a wider audience of potential investors resulting in a more efficient market for the Common Shares. The Name Change is being completed in order to better reflect the future business and operations of the Corporation.

Effective March 17, 2020(the effective date for the Consolidation and Name Change), there will be 23,606,891 Common Shares issued and outstanding (pre-Consolidation there were 354,103,367 Common Shares issued and outstanding). The exercise price and number of common shares of the Corporation issuable upon the exercise of outstanding stock options, warrants or other convertible securities will be proportionately adjusted to reflect the Consolidation. The Corporation’s new stock symbol for trading on the TSX Venture Exchange will be”NGY”.

A letter of transmittal was sent to all shareholders advising them of the Consolidation (and Name Change) as part of the materials sent out for the Special Meeting. The letter of transmittal provides details to shareholders on how to surrender the old share certificates and obtain new share certificates representing the number of common shares to which they are entitled as a result of the Consolidation. Until surrendered, each share certificate formerly representing common shares will be deemed for all purposes to represent the number of common shares to which the holder thereof is entitled as a result of the Consolidation.

ABOUT NEXERA ENERGY INC.
Nexera Energy Inc. (TSX Venture: NGY) is an energy company with oil producing properties in Southwest Texas. Nexera is owner and operator of the Lavernia, Wooden Horse and Nash Creek Projects. Additionally, the Company owns and operates various working interests in the HugoCellR, Cotulla, and MarPat partnerships. The Company also owns 75% of Production Resources Inc., a South Texas oil company.

For further information, please contact:Nexera Energy Inc. President, Shelby D. Beattie, by telephone at (403) 262-6000 Email: info@ebyinc.comwww.nexeraenergy.com.

Neither 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.