Calgary, Alberta and Vancouver, British Columbia--(Newsfile Corp. - September 10, 2026) - NU E Power Corp. (CSE: NUE) (OTC Pink: NUEPF) (FSE: NUE1) ("NUE" or the "Company") announces that it has entered into an agreement with a creditor, Cronin Capital Corp. (the "Creditor"), to settle a bona fide debt of $105,000 by issuing to the Creditor 700,000 units (the "Settlement Units") at a deemed issuance price of $0.15 per unit.
Each Settlement Unit will consist of one Common Share and one-half of a Common Share purchase warrant (a "Settlement Warrant"). Each whole Settlement Warrant will entitle its holder to purchase one Common Share at a price of $0.30 during the 36 months immediately following the Settlement Warrant's issuance date.
Since the Creditor is controlled by a person who was a director of the Company at the time the agreement was signed, the debt settlement may constitute a related party transaction under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, the transaction in this case is exempt from the formal valuation and minority shareholder approval requirements in MI 61-101 for related party transactions, as the fair market value of the Settlement Units does not exceed 25% of the Company's market capitalization.
The Company will issue the Settlement Units, which will be subject to a statutory hold period of four months, to the Creditor on or about September 18, 2026.
Annual General Meeting
The Company also announces that its annual general meeting of shareholders (the "Meeting") will be held on November 19, 2026 at 10:00 a.m. (Pacific Time) at the offices of Dentons Canada LLP, Vancouver, British Columbia.
The notice of meeting, management information circular and form of proxy will be mailed to shareholders and filed under the Company's profile on SEDAR+ at www.sedarplus.ca in accordance with applicable securities laws.
About NUE Power Corp.
NUE Power Corp. (CSE: NUE) (OTC Pink: NUEPF) (FSE: NUE1) is an energy infrastructure development company focused on the origination, development, and advancement of integrated power and energy-park opportunities. Operating a develop-to-divest model, the Company emphasizes strategic site positioning, grid access, and disciplined stage-gated development across markets serving compute-intensive and large-load industrial demand.
For more information, please contact:
| Broderick Gunning, Chief Executive Officer E-mail: brodie@nu-energy.ca | John Meekison, Chief Financial Officer E-mail: john@nu-energy.ca |
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release, which may contain "forward-looking statements", being statements about the future based on current expectations or beliefs. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313921
