Mr. Paul Clarke reports

CANCAMBRIA ENERGY ANNOUNCES UPSIZE OF BROKERED LIFE OFFERING TO $6.0 MILLION TO ACCELERATE HIGH-IMPACT SHALLOW OIL PROJECT, COMPLEMENTING DEEP GAS STRATEGY IN SOUTHERN HUNGARY AMID SOARING EUROPEAN ENERGY PRICES

Cancambria Energy Corp. has entered into an amended agreement with Research Capital Corp. as the sole agent and sole bookrunner to increase the size of its previously announced brokered, best effort listed issuer financing exemption private placement offering of units of the company at a price of 30 cents per unit for aggregate gross proceeds of $6-million.

Each unit will be composed of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of 40 cents for a period of 36 months following the closing of the offering. In addition, the company will make commercially reasonable efforts to obtain the necessary approvals to list the warrants on the TSX Venture Exchange.

The company will grant the agent an option to increase the size of the offering by up to an additional 15 per cent of the number of units sold in the offering, by giving written notice of the exercise of the agent's option, or a part thereof, to the company at any time up to two business days prior to closing of the offering. Assuming the exercise of the agent's option in full, the aggregate gross proceeds to the company will be $6.9-million.

A portion of the units will be offered for sale pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions) as amended by CSA Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption) in all provinces of Canada, except Quebec. The securities sold to purchasers resident in Canada under the listed issuer financing exemption are expected to be immediately freely tradable in accordance with applicable Canadian securities legislation. A portion of the units will also be offered in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the U.S. Securities Act of 1933, as amended, and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction. The securities offered to purchasers outside of Canada will be sold pursuant to the listed issuer financing exemption.

There is an amended and restated offering document related to this offering that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this amended and restated offering document before making an investment decision. The closing of the offering is expected to occur on or about the week of Oct. 8, 2026, or on such date as the agent and company may agree upon. Closing is subject to the company receiving all necessary regulatory approvals, including the conditional approval of the exchange.

The agent will receive a cash commission of 7.0 per cent of the aggregate gross proceeds of the offering and such number of broker warrants as is equal to 7.0 per cent of the number of units sold under the offering (in each case, subject to reduction for certain subscribers on a president's list of purchasers identified by the company). Each broker warrant entitles the holder to purchase one unit at an exercise price equal to the issue price for a period of 36 months following the closing.

About Cancambria Energy Corp.

Cancambria is a Canadian-based exploration and production company specializing in tight gas development. With a globally experienced leadership team, Cancambria focuses on high-quality, derisked projects with direct access to profitable markets. Leveraging the industry's most advanced technologies, the company aims to commercialize its flagship asset, the 100-per-cent-owned Kiskunhalas project in southern Hungary, a gas-condensate resource in the heart of Europe.

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