BLUENERGIES ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF UNITS FOR GROSS PROCEEDS OF C$20.7 MILLION

BluEnergies Ltd. has successfully closed a non-brokered private placement, raising C$20,704,560.75 through the issuance of 9,202,027 units priced at C$2.25 each. This transaction was finalized on July 23, 2026, and each unit consists of one common share and one common share purchase warrant. The warrants allow holders to purchase an additional common share at an exercise price of C$3.00 for a period of three years, expiring on July 23, 2029. The funds raised will be allocated towards exploration activities, working capital, and general corporate purposes.

Based in Vancouver, British Columbia, BluEnergies Ltd. is primarily engaged in oil and gas exploration and development, with a specific focus on offshore projects in West Africa. The company has recently formed a strategic partnership with TotalEnergies to explore basin floor fan plays in Blocks LB-26, which positions it favorably within a sector that is increasingly attracting investment due to rising global energy demands. The successful completion of this private placement indicates investor confidence in BluEnergies' strategic direction and growth potential.

The private placement included participation from insiders of the company, who subscribed for a total of 192,000 units, representing approximately 2.1% of the offering. This participation is classified as a related party transaction under Canadian securities regulations. The company has opted to rely on exemptions from formal valuation and minority shareholder approval requirements, as the insider participation did not exceed 25% of BluEnergies' market capitalization.

The transaction also involved the payment of finder's fees to eligible arm's-length parties, totaling C$1,005,683.85, which equates to 6% of the gross proceeds raised. Additionally, the company issued 446,970 finder's warrants as part of the compensation, further incentivizing the finders to assist in future fundraising efforts. All securities issued are subject to a statutory hold period of four months and one day, in accordance with Canadian securities legislation.

The successful fundraising by BluEnergies Ltd. reflects broader trends in the oil and gas sector, where companies are increasingly seeking capital to advance exploration and development projects amid a recovering energy market. As global energy demands rise, particularly in emerging markets, companies that can effectively leverage strategic partnerships and secure funding are likely to be well-positioned for growth. This transaction may serve as a benchmark for other firms in the sector looking to raise capital in the current market environment.