Vancouver, British Columbia--(Newsfile Corp. - October 8, 2026) - CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (OTCQB: CCEYF) ("CanCambria" or the "Company") is pleased to announce that it has closed its brokered "best-efforts" private placement (the "Offering") of 23,000,000 units of the Company (the "Units") at a price of CAD$0.30 per Unit for gross proceeds of CAD$6,900,000, including the full exercise of the agent's option. The Offering was conducted by Research Capital Corporation, as sole agent and sole bookrunner (the "Agent").

Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of CAD$0.40 until October 8, 2029. The Company has applied to list the Warrants on the TSX Venture Exchange (the "Exchange"). The listing of the Warrants is subject to the Company satisfying the listing requirements of the Exchange. If the Warrants are listed, they are expected to trade on the Exchange under the symbol "CCEC.WT".

The Offering was completed by way of the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions and in reliance on the amendments to Part 5A of NI 45-106 set forth in Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). The Units offered under the Listed Issuer Financing Exemption are not subject to resale restrictions pursuant to applicable Canadian securities laws.

The net proceeds from the Offering will be used to delineate and de-risk 10 identified shallow oil prospects and advance the drilling of the Company's top-ranked prospect(s). This will be underpinned by the acquisition of a new, state-of-the-art, proprietary 3D seismic survey covering the Soltvadkert/Tazlar/Alpar Shallow Oil Fairway ("STA Fairway") in Southern Hungary, with a portion of the proceeds also made available for general corporate purposes. This survey is designed to reduce pre-drill uncertainties and geologic risks related to prospect geometry, resource size, reservoir distribution, and well placement, providing the technical foundation for prospect maturation and drilling decisions.

In connection with the Offering, the Company paid to the Agent a cash commission of $362,271 and issued to the Agent 1,207,570 broker warrants (the "Broker Warrants"). Each Broker Warrant is exercisable to acquire one Common Share at a price of $0.30 per Common Share until October 8, 2029. In addition, the Company paid an advisory fee of $105,000 plus tax and issued 350,000 advisory warrants of the Company on the same terms as the Broker Warrants.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities referred to in this news release have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

Certain members of CanCambria's management team and board of directors (collectively, the "Related Parties") participated in the Offering for an aggregate of 200,000 Units, corresponding to an aggregate subscription price of $60,000. The participation of the Related Parties constituted a "related party transaction" within the meaning of the TSXV Policy 5.9 – Protection of Minority Security Holders in Special Transactions and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). This transaction was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the securities to be distributed and the consideration to be received for the securities issued to Related Parties under the Offering did not exceed 25% of the Company's market capitalization. The Company did not file a material change report at least 21 days in advance of the closing of the Offering as the participation of the Related Parties in the Offering had not been confirmed at that time.

About CanCambria Energy Corp.

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

CAUTIONARY NOTE ON FORWARD-LOOKING INFORMATION

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information other than statements of historical facts contained in this news release constitutes "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities laws (collectively, "forward-looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding statements regarding the intended use of proceeds from the Offering, the listing of the Warrants on the Exchange and the Company's planned exploration activities, including the 3D seismic survey over the STA Fairway. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control, including, without limitation, risks that the proceeds from the Offering may not be used as contemplated; risks that the Warrants may not be listed on the Exchange as contemplated, or at all; risks that the Company's planned operations may not be completed as contemplated, or at all, or that the anticipated benefits from the Company's planned operations may not be realized as anticipated, or at all; risks that the Company's plans for the STA fairway may not be completed as contemplated, or at all; risks that the Company's acquisition of its own 3D seismic survey over the STA Fairway may not be completed as contemplated, or at all; risks that the Company may not receive necessary regulatory approvals; risks that the Company may not provide prospective resource disclosure in an NI 51-101 report as contemplated, or at all; risks that the Company may not be able to carry out its exploration plans as contemplated, or at all and risks related to the Company's business plans, expectations, capital costs and objectives. The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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