Calgary, Alberta--(Newsfile Corp. - July 17, 2026) - New Stratus Energy Inc. (TSXV: NSE) ("New Stratus", "NSE" or the "Corporation") is pleased to announce an increase to the previously announced private placement of common shares of the Corporation.
The Corporation now intends to complete a non-brokered private placement of common shares ("Common Shares") at a revised price of $0.50 per Common Share for aggregate gross proceeds of up to $8 million (approximately US$5.7 million) (the "Offering"). Certain of the Corporation's large shareholders have agreed to participate in the Offering and have reflected increased orders.
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.
Certain directors and officers of the Corporation have advised that they expect to subscribe for Common Shares in the Offering. Insider participation in the Offering would be considered to be "related party transactions" within the meaning of Multilateral Instrument 61-101 ("MI 61-101"). The Corporation expects to rely on certain exemptions from the requirement under MI 61-101 to obtain minority shareholder approval for the insider portions of the Offering as neither the fair market value of any securities issued to, or the consideration paid by such persons, will exceed 25% of the Corporation's market capitalization.
The proceeds from the Offering will remain the same and will be used to advance due diligence on MOUs for opportunities in Venezuela.
Contact Information
Wade Felesky
Chairman & President
wfelesky@newstratus.energy
José Francisco Arata
Chief Executive Officer
jfarata@newstratus.energy
Javier Silva
Chief Financial Officer
javier.silva@newstratus.energy
Forward-Looking Information
Certain information set forth in this news release constitutes "forward-looking statements", and "forward-looking information" under applicable securities legislation (collectively, "forward-looking statements"). All statements other than statements of historical fact are forward-looking statements. Forward-looking statements may be identified by the use of conditional or future tenses or by the use of words such as "will", "expects", "intends", "may", "should", "estimates", "anticipates", "believes", "projects", "plans", and similar expressions, including variations thereof and negative forms. Forward-looking statements in this news release include, among others, the following: the execution of the definitive agreement for the joint venture in Colombia on the timeline expected or at all; the ability of NSE to acquire working interests in "Empresas Mixtas" in Venezuela and to sign MOUs with respect to production sharing contracts; the size of the Offering; the use of the net proceeds of the Offering; the timing and completion of the Offering; the level of large shareholder participation in the Offering; the level of insider participation in the Offering; the receipt of regulatory, stock exchange and other required approvals in connection with the Offering.