Mr. Daniel Evans reports

COBRA VENTURE CORPORATION APPROVES SPECIAL DIVIDEND

Cobra Venture Corp. has approved a special, one-time cash dividend of 2.7 cents per common share. The special dividend will be payable on May 2, 2024, to shareholders of record as of the close of business on April 16, 2024. The aggregate amount of the payment in connection with this special dividend will be approximately $446,951.

"We are pleased to be in a position to provide our shareholders with this special dividend. We believe this special dividend aligns the interests of management with those of all our shareholders," said Daniel Evans, president and chief executive officer.

The company has decided to pay the special dividend based on several factors, including the company's recently announced year-end financial results, the management team's assessment of the company's future capital requirements, and corporate and property interest opportunities. There are currently no plans for future dividends. The declaration and payment of dividends is at the discretion of the board of directors of the company, and any future declaration of dividends will depend on the company's financial results, cash requirements, future prospects and other factors deemed relevant by the board of directors of the company.

As an oil and gas project update (and as referred to in the company's audited financial statements for the year ended Nov. 30, 2023), in August, 2019, the company entered into a participation agreement with Makk Energy Ltd., a private oil and gas company controlled by Murray Rodgers, a director of the company, and QC Energy LLC, a private oil and gas company based in Denver, Colo. Pursuant to the agreement, the company had a nonoperating 25-per-cent working interest in the subject project. During the year ended Nov. 30, 2023, the company terminated its participation in the agreement and wrote down $32,357 in exploration advances.

We seek Safe Harbor.