Mr. David Mitchell reports

AMERICAN ATOMICS ANNOUNCES CLOSING OF PRIVATE PLACEMENT OF UNITS

American Atomics Inc., pursuant to its news releases from Feb. 6, 2026, Feb. 9, 2026, and Feb. 20, 2026, has closed its previously announced upsized non-brokered private placement of units of the company. The total size of the offering consists of 7.68 million units for aggregate gross proceeds of $1.92-million.

Each unit consists of one common share in the capital of the company and one-half of one share purchase warrant. Each warrant will be exercisable to acquire an additional share at a price of 35 cents per warrant share for a period ending 24 months after issuance.

David Mitchell, chief executive officer of American Atomics, stated: "We are very pleased to have closed this upsized financing and for the strong market interest that it received. We look forward to now working to complete our definitive agreement with Big Indian in the days ahead and continuing to push forward with our plans for American Atomics."

Additionally, the company announces that it has issued 322,000 units to Terry Lynch in satisfaction of a debt conversion transaction, whereby the company converted an aggregate of $80,500 in outstanding debt obligations owing to the creditor. The units issued to the creditor under the debt settlement are on the same terms as the units issued under the offering.

The company intends to use the net proceeds from the offering to support a transaction with Big Indian Prospectors LLC, as announced on Oct. 27, 2025, working capital, and general and administrative expenses. Units issued in the offering and the debt settlement are subject to a four-month hold period in accordance with applicable securities laws, which will expire four months and one day from the date issuance.

In connection with the closing of the offering, the company paid certain eligible finders aggregate cash commissions of $30,100, being equal to 7 per cent of the aggregate gross proceeds raised from those purchasers introduced by such finder.

Certain directors of the company subscribed for an aggregate of 330,000 units for aggregate gross proceeds of $82,500 in the Offering. The insiders' participation constitutes a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on the exemption from the valuation requirements and minority shareholder approvals in MI 61-101 pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the value of the insiders' participation in the offering does not represent more than 25 per cent of the company's market capitalization, as determined in accordance with MI 61-101.

Additionally, the participation of the creditor in the debt settlement is a related party transaction within the meaning of MI 61-101, as the creditor is a director of the company. The company is relying on the exemption from the valuation requirements and minority shareholder approvals in MI 61-101 pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the value of the debt settlement does not represent more than 25 per cent of the company's market capitalization, as determined in accordance with MI 61-101.

About American Atomics Inc.

American Atomics intends to develop a vertically integrated uranium supply chain across North America -- from exploration and extraction to refinement, conversion and enrichment.

We seek Safe Harbor.