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Nov 19, 2025 12:00 PM

Brazil joint venture partner receives regulatory approval

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CALGARY, Alberta, Nov. 19, 2025 (GLOBE NEWSWIRE) -- Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) reported today that Nice Capital Holdings Ltda. ("Nice"), a member of the Nimofast Group ("Nimofast'), has received regulatory approval to proceed with its joint venture with Questerre for the development of Parana Xisto SA ("PX Energy"), an oil shale production and refining company based in southern Brazil (the "Joint Venture").

The Brazilian Administrative Council for Economic Defense ("CADE") issued a certificate yesterday for its final and non-appealable decision to approve the participation of Nice in the Joint Venture. Nice will acquire a 50% interest in the Joint Venture through the acquisition of shares of Questerre's special purpose subsidiary and the Brazilian holding company that owns 100% of the equity of PX Energy.

Michael Binnion, President, and Chief Executive Officer of Questerre, commented, "With the CADE approval in place, we look forward to working with Nimofast ...

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