Vancouver, British Columbia--(Newsfile Corp. - October 14, 2026) - NUE Power Corp. (CSE: NUE) (OTC Pink: NUEPF) (FSE: NUE1) ("NUE" or the "Company") is pleased to announce the appointment of the Honourable Tony Clement, P.C., to its Board of Directors, effective October 14, 2026.
Mr. Clement brings decades of senior public service at the federal and provincial levels, together with involvement in Canada's nuclear and Small Modular Reactor (SMR) sector. His appointment aligns directly with NUE's expanding focus on Saskatchewan and the Prairie provinces, where the Company is advancing new power generation opportunities, and where nuclear, including SMRs, has become a prominent part of the conversation on new generation.
Background
Mr. Clement served as a Member of Parliament from 2006 to 2019 and held several senior federal cabinet portfolios, including Minister of Health, Minister of Industry and President of the Treasury Board. Prior to federal office, he served as a cabinet minister in the Government of Ontario. He currently chairs the Advisory Board of the SMR Forum, which convenes industry, government and investment leaders on the deployment of small modular reactors in Canada and internationally.
Rationale and Market Context
Global power demand is accelerating, driven by electrification, industrial growth and AI-driven compute. Nuclear and SMR technology is emerging as a critical source of reliable, low-carbon baseload power, and jurisdictions across Canada and abroad are moving to establish frameworks for deployment. Mr. Clement's experience in public policy, intergovernmental relations and nuclear sector development will support NUE as it builds partnerships with governments, technology providers and capital partners in Canada and internationally.
NUE established its position in the Saskatchewan market earlier this year through a development property under agreement in the Regina region, announced on August 7, 2026.
On September 29, 2026, the Government of Saskatchewan released Delivering Energy Security Through Nuclear Power, setting out a phased transition from coal-fired generation to nuclear, a goal of at least 2,600 MW of nuclear generation by 2050, and further study of small modular reactors near Estevan. The plan strengthens the case for NUE's work in the province and reflects growing global interest in nuclear and SMR technologies.
Saskatchewan's move from coal to nuclear closely mirrors NUE's approach in Asia. The Company's Darkhan Energy Park in Mongolia is currently proposed as 600 MW of high-efficiency, low-emissions (HELE) coal-fired generation and 100 MW of battery storage, and nuclear, including SMR technology, is central to how NUE views the project's long-term path.
"We brought Tony onto the Board for two reasons: his depth of experience in government and public policy, and his leadership in nuclear and SMR development," said Broderick Gunning, CEO of NUE. "As NUE deepens its presence in Saskatchewan and across the Prairies, nuclear and SMR technology is increasingly part of the conversation on how new power gets built, alongside hybrid generation that combines solar, battery storage and natural gas. Tony's guidance will be a significant asset to the Company, both in Canada and abroad."
"I am pleased to join NUE's Board at a time when nuclear energy is gaining real momentum globally," said Mr. Clement. "Getting major energy projects built in Canada takes alignment between governments, communities and capital. That is where I have spent much of my career, and it is where I expect to be most useful to NUE's Board as the Company develops new generation in Saskatchewan and beyond. I look forward to working with Brodie and the team."
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 further information: | |
| Broderick Gunning, Chief Executive Officer | John Meekison, Chief Financial Officer |
| E-mail: brodie@nu-energy.ca | E-mail: john@nu-energy.ca |
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding Mr. Clement's anticipated contribution to the Company, the Company's plans and activities in Saskatchewan and the Prairie provinces, the Regina development property and the closing of that transaction, the Government of Saskatchewan's nuclear plans, the development of the Darkhan Energy Park and its long-term path, and the potential role of nuclear and small modular reactor technology in the Company's business. Forward-looking information is based on management's current expectations and is subject to risks and uncertainties, including the Company's need for additional financing to fund its operations and development activities and the availability of that financing on acceptable terms or at all, regulatory approvals, partner arrangements and market conditions. The Company does not currently hold an interest in any nuclear or small modular reactor project, and there is no assurance that it will. The Regina transaction has not yet closed, and the Darkhan Energy Park, including any role for nuclear, is at an early stage. Actual results may differ materially.
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/318829
