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CALGARY, Alberta, March 31, 2026 (GLOBE NEWSWIRE) -- Cavvy Energy Ltd. (“Cavvy” or the “Company”) (TSX:CVVY) announces the cashless exercise of common share purchase warrants (the “Warrants”) by PCEP Canadian Holdco, LLC. (“PCEP”).

The Warrants were issued to PCEP in 2023 and 2024 in connection with debt financing to Cavvy, then Pieridae Energy Limited. The Warrants, totalling 19,804,414, have been exercised using the cashless exercise mechanism specified in the warrant certificates. The warrants were exercised at a weighted average price of $0.4485 per share, in exchange for the issuance of 13,030,536 common shares.

The Company has 309,080,041 common shares and nil share purchase warrants outstanding, following the exercise of the Warrants.

ABOUT CAVVY ENERGY        
Cavvy Energy is an integrated Canadian upstream and midstream energy company headquartered in Calgary, Alberta. Cavvy’s objective is to create long term shareholder value through development, production, processing, and marketing of natural gas, natural gas liquids, and sulphur while providing superior service to the Company’s third-party customers through our strategic, company-owned gathering and processing infrastructure located in western Canada.

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

For further information, visit www.cavvyenergy.com, or please contact:

Darcy Reding, President & Chief Executive Officer
Telephone: (403) 261-5900

Adam Gray, Chief Financial Officer
Telephone: (403) 261-5900

Investor Relations
investors@cavvyenergy.com