Coelacanth Energy Announces Completion of its Private Placement

Coelacanth Energy Announces Completion of its Private Placement

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CALGARY, AB, Sept. 29, 2026 /CNW/ -- Coelacanth Energy Inc. (the "Company" or "Coelacanth") (TSXV: CEI) is pleased to announce, further to its news release dated September 21, 2026 and in conjunction with the previously announced hiring of Jonathon Hanson as VP Engineering, it has closed its previously announced non-brokered private placement offering (the "Offering") pursuant to which the Company issued to Mr. Hanson 325,715 units of the Company ("Units"), at a price of $0.70 per Unit, for aggregate gross proceeds of $228,000.50. 

The Offering is considered a related party transaction within the meaning of TSX Venture Exchange (the "TSXV") Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The board of directors of the Company (the "Board") has determined that the Offering will be exempt from the requirement for a formal valuation under MI 61-101 pursuant to the exemptions in subsections 5.5(a) of MI 61-101 and that the Offering will be exempt from the requirement for minority shareholder approval under MI 61-101 pursuant to the exemptions in subsections 5.7(1)(a) of MI 61-101. The Offering has been unanimously approved by the members of the Board.

The Company intends to use the proceeds from the Offering for general corporate purposes.

The Offering is subject to all necessary regulatory and stock exchange approvals, including but not limited to approval of the TSXV.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "should", "believe", "intends", "forecast", "plans", "guidance" and similar expressions are intended to identify forward-looking statements or information.

More particularly and without limitation, this document contains forward-looking statements and information relating to the anticipated use of proceeds from the Offering. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions relating to prevailing commodity prices and exchange rates, applicable royalty rates and tax laws, future well production rates, the performance of existing wells, the success of drilling new wells, the availability of capital to undertake planned activities, the availability and cost of labour and services, the receipt of all necessary approvals (including the approval of the TSXV), and completion of the subscription by the anticipated subscriber.

Although the Company believes that the expectations reflected in such forward-looking statements and information are reasonable, it can give no assurance that such expectations will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to: the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the uncertainty of estimates and projections relating to production rates, costs and expenses, commodity price and exchange rate fluctuations, marketing and transportation, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in tax, royalty and environmental legislation. The forward-looking statements and information contained in this document are made as of the date hereof for the purpose of providing the readers with the Company's expectations for the coming year. The forward-looking statements and information may not be appropriate for other purposes. The Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

www.coelacanth.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 release.

SOURCE Coelacanth Energy Inc.