Mr. Jeff Chisholm reports

CANASIA ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS, INCLUDING THE APPROVAL OF THE PREVIOUSLY ANNOUNCED SALE OF ANDORA ENERGY CORPORATION

Canasia Energy Corp. has released the voting results from the annual and special meeting of shareholders of Canasia held today. A total of 66,421,880 common shares of Canasia were voted at the meeting, representing 58.45 per cent of the issued and outstanding common shares. All matters submitted to shareholders for approval as set out in Canasia's notice of meeting and management information circular dated Sept. 1, 2026, were approved by the requisite majority of votes cast at the meeting.

At the meeting, shareholders approved the previously announced sale of Canasia's wholly owned subsidiary, Andora Energy Corp., with 99.9% of the common shares represented in person or by proxy at the meeting voting in favour. The TSX Venture Exchange has also conditionally accepted the sale transaction, subject to the satisfaction of certain filing requirements. It is expected that the sale transaction will be completed on or about Oct. 30, 2026.

In addition to the sale transaction, at the meeting, shareholders approved: (i) the re-election of each of Jeff Chisholm, Gerald Macey, Richard Alexander, Cameron Taylor and Chris Newton as directors of Canasia; (ii) the reappointment of KPMG LLP as auditor of Canasia; (iii) Canasia's equity incentive plan for the ensuing year; (iv) a return of capital of a portion of the net proceeds from the sale transaction; and (v) an amendment to the exercise price of the outstanding stock options of Canasia following payment of the return of capital, all as more particularly described in the circular. The amendment to the exercise price of the outstanding stock options remains subject to the approval of the TSX-V.

For further information on the matters approved by shareholders at the meeting, please refer to the circular, a copy of which is available on Canasia's SEDAR+ profile.

About Canasia Energy Corp.

Canasia is a Canadian publicly listed junior oil and gas company focused on the identification, evaluation and advancement of oil and gas exploration and development opportunities. Canasia does not currently have producing oil and gas properties or any established source of operating revenue. Its activities to date have consisted primarily of the evaluation and advancement of early-stage oil and gas assets, assessment of strategic alternatives in respect of those assets and participation in competitive bid processes for oil and gas interests. An updated corporate presentation dated Oct. 15, 2026, is available on Canasia's website.

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