Simba Essel Energy Inc (SMBZF)

[otced]

The Company has now been advised that Mr. Goel has terminated the services of Mr. Gupta as a Director and Officer of EGME for various reasons. Mr. Goel recommended that the Company terminate Mr. Gupta
as a Director and Officer of Simba. Mr. Gupta has submitted his resignation as Director and Officer of
Simba, effective immediately.

The Company has now been advised that EGME either cannot or will not arrange the necessary financing
for the Company to complete its annual audit and file its Financial Statements and related MD&A by its
filing date of October 28, 2019. This leaves the Company in a position where it will be unable to file the
required financial statements and MD&A by the deadline of October 28, 2019.
The Board of Directors of Simba, after waiting for EGME to perform on its commitment to arrange
funding, now must suspend operations and will attempt to reorganize the Company with the cooperation
of all of the stakeholders.