Calgary, Alberta--(Newsfile Corp. - May 1, 2023) - Gear Energy Ltd. (TSX: GXE) (OTCQX: GENGF) ("Gear" or the "Company") confirms that the May 2023 monthly dividend of $0.01 per common share is to be paid on May 31, 2023, to shareholders of record on May 15, 2023.

The dividend is designated as an "eligible dividend" for Canadian income tax purposes.

FOR FURTHER INFORMATION PLEASE CONTACT:

Ingram Gillmore
President & CEO
403-538-8463

David Hwang
Vice President Finance & CFO
403-538-8437

Email: info@gearenergy.com
Website: www.gearenergy.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164339