TSXV: BLU | OTCQX: BLUGF
VANCOUVER, BC
, April 16, 2026 /PRNewswire/ - BluEnergies Ltd. (TSXV: BLU) ("BLU" or the "Company") announces it has entered into new strategic advisory services agreements (the "Advisory Agreements") with each of Haywood Securities Inc. ("Haywood") and Canaccord Genuity Corp. ("Canaccord"), together the co-advisors (the "Co-Advisors"), pursuant to which the Co-Advisors will provide the Company with certain strategic advisory services. Haywood is a full-service investment dealer with assets under management of C$21 billion. Canaccord Genuity is a global independent financial services company with C$145 billion in client assets.
Pursuant to the terms of the Advisory Agreements and subject to the acceptance of the TSX Venture Exchange (the "Exchange"), the Company has agreed to issue after thirty (30) days, subject to receipt and verification of documentation evidencing completed services under the Advisory Agreements, to each of the Co-Advisors, 125,000 common shares of the Company (the "Initial Advisory Shares"), at a deemed issue price of $2.43 per Initial Advisory Share (the "Issue Price"), and 125,000 common share purchase warrants of the Company (the "Initial Advisory Warrants"). Each Initial Advisory Warrant shall entitle the Co-Advisors to acquire one common share of the Company (the "Initial Advisory Warrant Shares"). The Initial Advisory Warrants shall have an exercise price of $2.43 for a period of twenty-four (24) months from the date of the Advisory Agreements.
The Advisory Agreements have initial terms of three months from the date of signing of the respective Advisory Agreements (the "Initial Term") and may be extended by a further three months at the mutual agreement of the Company and the Co-Advisors, at which time the Company shall issue to each of the Co-Advisors an additional 125,000 common shares of the Company (the "Additional Advisory Shares"), at a deemed issue price equal to the closing price of the Company's common shares on the Exchange on the date immediately prior to the issuance of the Additional Advisory Shares and an additional 125,000 common share purchase warrants of the Company (the "Additional Advisory Warrants"). Each Additional Advisory Warrant shall entitle the Co-Advisors to acquire one common share of the Company (the "Additional Advisory Warrant Shares"). The Additional Advisory Warrants shall have an exercise price equal to the closing price of the Company's common shares on the Exchange on the date of issuance of the Additional Advisory Warrants for a period of twenty-four (24) months from the date of the Advisory Agreements.
If either Advisory Agreement is not extended beyond the Initial Term, then the Additional Advisory Warrants and the Additional Advisory Shares will not be issued to Haywood and/or Canaccord, as applicable.
The Initial Advisory Shares, the Additional Advisory Shares, the Initial Advisory Warrant Shares, and the Additional Advisory Warrant Shares will have a hold period of four months and one day from the date of issuance in accordance with applicable securities laws.
In addition, under the Advisory Agreements, the Company will pay each Co-Advisor a monthly consulting fee of C$20,000, plus applicable taxes, payable each 3-month period following the date of the Advisory Agreements in arrears (the "Consulting Fee"), and the Consulting Fee will be settled through the issuance of common shares of the Company (the "Consulting Fee Shares") at a deemed issue price per Consulting Fee Share equal to the closing price of the common shares of the Company on the Exchange on the date immediately prior to the issuance of the Consulting Fee Shares, subject to the acceptance of the Exchange. The Consulting Fee Shares will have a hold period of four months and one day from the date of issuance in accordance with applicable securities laws.
About BluEnergies Ltd.
BluEnergies Ltd. is a Canadian based oil and gas exploration and development company focused on offshore West Africa. The Company has recently partnered with TotalEnergies to explore its basin floor fan play in Blocks LB-26, LB-30, and LB-31 covering an area of approximately 8,924 square kilometers (~2.2 million acres) located in the Harper basin, in the deep water offshore Liberia. Additionally, the Company recently acquired a previously discovered and tested sand channel play offshore Louisiana in the shallow water Gulf of America. 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.
Cautionary Note Regarding Forward-Looking Information
Statements included in this news release, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, the issuance of the securities to Haywood and Canaccord as compensation for the services to be rendered under the Advisory Agreements and the receipt of the acceptance of the Exchange, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
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SOURCE BluEnergies Ltd.
