TSXV: BLU
VANCOUVER, BC
, March 12, 2026 /CNW/ - BluEnergies Ltd. (TSXV: BLU) ("BLU" or the "Company") announces the successful completion of the exercise of all outstanding common share purchase warrants ("Warrants") following the acceleration of their expiry date.
As previously announced on February 10, 2026, the Company accelerated the expiry of 8,009,950 Warrants originally issued on April 8, 2025, in connection with the Company's private placement financing and TSX Venture Exchange listing. The acceleration was triggered upon the moving volume weighted average trading price of the Common Shares on the TSXV equaling or exceeding C$1.50 for 20 consecutive trading days ending February 10, 2026. The accelerated expiry date was set to March 12, 2026.
The Company is pleased to confirm that all 8,009,950 Warrants have now been exercised by the holders, resulting in the issuance of 8,009,950 additional common shares ("Common Shares") of the Company at the exercise price of C$0.75 per Common Share, generating gross proceeds to the Company of C$6,007,462. The proceeds will strengthen the Company's balance sheet and support ongoing operations for its oil and gas exploration activities jointly with TotalEnergies in the Harper Basin fan play, offshore Liberia.
In addition, the Company settled (the "Settlement") an aggregate of C$323,073 owing to an arm's length advisor to the Company by the issuance of an aggregate of 216,715 Common Shares at a price of $1.50 per Common Share. The Common Shares were issued in lieu of cash payments for services previously rendered by the advisor to the Company pursuant to a consulting and advisory agreement whereby the advisor provided various services to the Company throughout 2024 and 2025.
The Common Shares issued in connection with the Settlement are subject to a hold period of four months and a day from the date of closing.
Following the warrant exercise and shares for services, the total number of issued and outstanding Common Shares of the Company is now 72,549,915.
About BluEnergies Ltd.
BluEnergies Ltd. is a Canadian-based international oil and gas exploration and development company with a focus on operations in West Africa. For additional information on BluEnergies Ltd., please refer to the Company's website, www.blu-energies.com.
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.
SOURCE BluEnergies Ltd.
