Hemisphere Energy Named to 2023 OTCQX Best 50

Vancouver, British Columbia--(Newsfile Corp. - January 19, 2023) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") is pleased to announce that it has been named to the 2023 OTCQX Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year.

The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Companies in the 2023 OTCQX Best 50 were ranked based on their performance in 2022. The OTCQX Best Market offers transparent and efficient trading of established, investor-focused U.S. and global companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. More details on the 2023 OTCQX Best 50 ranking, can be found at the following web link https://www.otcmarkets.com/files/2023_OTCQX_Best_50.pdf.

"We are very proud to have earned a position in the 2023 OTCQX Best 50," said Mr. Simmons, President and Chief Executive Officer of Hemisphere. "This is a welcome recognition of the value Hemisphere has created for its shareholders through the operational growth and financial performance of the Company over the past year. It is also reflective of the dedication of Hemisphere's employees and management team, strong guidance from the board of directors, and the ongoing support of shareholders. Hemisphere has worked hard to position itself as a growing company with top-tier oil assets, a strong balance sheet, and a commitment to deliver solid returns to shareholders."

About Hemisphere Energy Corporation

Hemisphere is a Canadian oil company focused on sustainable growth of its high netback, low decline conventional heavy oil assets through water and polymer flood enhanced oil recovery methods. Hemisphere trades on the TSXV as a Tier 1 issuer under the symbol "HME" and on the OTCQX Venture Marketplace under the symbol "HMENF".

For further information, please visit the Company's website at www.hemisphereenergy.ca to view its corporate presentation or contact:

Don Simmons, President & Chief Executive Officer
Telephone: (604) 685-9255
Email: [email protected]
Website: www.hemisphereenergy.ca

Neither the 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 news release.

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