Mr. Jean-Robert Pronovost reports

ALBATROS ACQUISITION CORPORATION INC. UPDATE ON QUALIFYING TRANSACTION

Albatros Acquisition Corp Inc. has received confirmation that Inversiones Purimac SAS, the wholly owned Colombian subsidiary of Latitude 6 Capital Inc., has fulfilled its first payment obligation in the amount of 600 million Colombian pesos (approximately $269,000 (Canadian)), pursuant to the operation and option agreement for assignment of rights over special mining concession ARE-283 (the property), in respect of the option to acquire 50 per cent of rights over the mining title. A second payment of 700 million Colombian pesos (approximately $314,000 (Canadian)) is scheduled to be made on Dec. 1, 2026, in accordance with the option. Following completion of the second payment, Latitude 6 will have secured its 50-per-cent interest in the property pursuant to the terms of the option.

Financing

Albatros is also pleased to announce that Latitude 6 has now closed an aggregate of $525,000 of its previously announced non-brokered private placement of units of Latitude 6. Latitude 6 is currently working to close additional tranches of the private placement.

Each unit consists of one common share in the capital of Latitude 6 and one-half of one share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share at a price of 30 cents for a period of 24 months from the date of issuance.

The net proceeds of the private placement have been used to finance the option payment, for general working capital and to advance the previously announced proposed business combination with Albatros, intended to constitute Albatros's qualifying transaction under Policy 2.4 Capital Pool Companies of the TSX Venture Exchange.

In connection with the private placement, Latitude 6 paid aggregate cash finders' fees of $25,200 and issued 126,000 compensation warrants to eligible finders. Each compensation warrant entitles the holder thereof to acquire one common share of Latitude 6 at an exercise price of 30 cents per share for a period of 24 months from the date of issuance.

The securities issued under the private placement, including the common shares underlying the warrants and the compensation warrants, are subject to a hold period expiring four months and one day after the later of: (i) the date of issuance; and (ii) the date Latitude 6 becomes a reporting issuer in any province or territory.

Update on qualifying transaction

Albatros and Latitude 6 continue to advance the transaction in accordance with the terms of the binding letter of intent entered into between the parties on April 29, 2026. The parties are currently finalizing the terms of a definitive agreement in respect of the transaction and Latitude 6 is progressing with the preparation of its audited IFRS (international financial reporting standards) financial statements. The independent geological report on the property under Regulation 43-101 respecting standards of disclosure for mineral projects has been completed and will be submitted to the exchange for review as part of the conditional approval application expected to be filed shortly.

Albatros will provide further updates on the transaction as additional details become available.

About Latitude 6 Capital Inc.

Latitude 6 Capital is a private mineral resource company incorporated under the Canada Business Corporations Act and headquartered in Pointe-Claire, Que., with operations in Medellin, Colombia. Latitude 6's objective is to hold and advance mineral interests in the Republic of Colombia and to become a reporting issuer in Canada through the transaction described in this news release.

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