Calgary, Alberta--(Newsfile Corp. - July 14, 2026) - New Stratus Energy Inc. (TSXV: NSE) ("New Stratus", "NSE" or the "Corporation") is pleased to announce a corporate update as well as a private placement of common shares of the Corporation for gross proceeds of up to C$7 million.
Colombia Update
As previously disclosed on December 1, 2025 NSE has entered into a binding memorandum of understanding for a joint venture agreement with a local operator, approved by the Agencia Nacional de Hidrocarburos in Colombia, to jointly acquire and develop existing oil and gas production blocks in Colombia. After several months of negotiation, the definitive agreement was expected to be executed by the end of June 2026. However, with the change in government in Colombia, following the run-off election on June 21, 2026, the definitive agreement is now expected to be signed after the official transition on August 7, 2026.
Venezuela Update
NSE is working with numerous partners to acquire working interests in existing joint ventures ("Empresas Mixtas") with Petroleos de Venezuela S.A. ("PDVSA") and to sign new production sharing contracts to operate oil fields presently under administration by PDVSA. The Corporation is negotiating directly with U.S. oil services, operating and financial companies to sign memoranda of understanding ("MOUs") to then negotiate the contracts with PDVSA as contemplated in the new hydrocarbon law enacted on January 29, 2026.
Since the U.S. Government lifted all previously imposed sanctions earlier this year, NSE has been actively analyzing and prioritizing different oil & gas assets based on recoverable reserves, production potential and infrastructure status in conjunction with its U.S. partners. Currently, NSE has 5 active opportunities in the final MOU stage.
Private Placement
The Corporation intends to complete a non-brokered private placement of common shares ("Common Shares") at a price of $0.53 per Common Share for aggregate gross proceeds of up to $7 million (approximately US$5 million) (the "Offering"). Certain of the Corporation's large shareholders have agreed to participate in the Offering.
Closing of the Offering is expected to occur on or about July 28, 2026. In accordance with applicable securities laws, all Common Shares issued under the Offering will be subject to a hold period expiring four months and a day following the date of Closing. Closing of the Offering is subject to certain conditions including the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.