Solas Capital Management, LLC 4

What Happened Solas Capital Management, LLC — reported as a 10% owner of Epsilon Energy Ltd. (EPSN) — sold a total of 74,425 shares across three transactions in late March 2026. The sales were: 22,290 shares at $6.17 on 2026-03-26 ($137,529), 26,000 shares at $6.21 on 2026-03-27 ($161,460), and 26,135 shares at $6.25 on 2026-03-30 ($163,344). These were disposals (sales), not purchases, which are often routine portfolio or rebalancing activity for institutional holders.

Key Details

• Transaction dates and prices:
  • 2026-03-26: 22,290 shares @ $6.17 — $137,529
  • 2026-03-27: 26,000 shares @ $6.21 — $161,460
  • 2026-03-30: 26,135 shares @ $6.25 — $163,344
• Total sold: 74,425 shares for approximately $462,333.
• Shares owned after transaction: not specified in the provided filing details.
• Footnote: Securities are held in multiple accounts; Solas Capital is the investment manager and Frederick Tucker Golden may be deemed a beneficial owner as portfolio manager. Each reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.
• Filing: Form 4 was filed 2026-03-30 reporting transactions from 2026-03-26 to 2026-03-30; no late-filing notation is indicated in the provided information.

Context This filing reflects institutional selling by a disclosed 10% owner (investment manager), not an executive/employer trade. Such sales can result from portfolio rebalancing, client-directed trades, or other institutional decisions and do not by themselves indicate management-level sentiment about the company.