LOGAN ENERGY CORP. UPSIZES PREVIOUSLY ANNOUNCED EQUITY OFFERINGS TO $65 MILLION

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./

CALGARY, AB, Feb. 20, 2026 /CNW/ - Logan Energy Corp. (TSXV: LGN) ("Logan" or the "Company") is pleased to announce that, as a result of excess demand, it has agreed with the syndicate of underwriters (the "Underwriters") co-led by National Bank Capital Markets as sole bookrunner and co-lead underwriter, and TD Securities Inc. as co-lead underwriter, to increase the size of its previously announced bought-deal equity financing (the "Equity Offerings"). Logan will now issue 45,274,000 common shares ("Common Shares") at a price of $0.73 per Common Share (the "Issue Price") on a bought deal basis, by way of a public offering (the "Prospectus Offering") and 43,836,000 Common Shares at the Issue Price on a bought deal basis, by way of private placement (the "Private Placement"), resulting in aggregate gross proceeds of approximately $65 million. It is anticipated that certain directors, officers and employees of the Company will subscribe for approximately $2.1 million of the Private Placement.

The Underwriters have been granted an option to purchase up to an additional 15% of the Common Shares issued under the Prospectus Offering at the Issue Price to cover over allotments exercisable in whole or in part at any time until 30 days after the closing of the Prospectus Offering.

In connection with the Equity Offerings, the Company also announced yesterday that it had entered into a definitive purchase agreement with a subsidiary of a publicly-traded oil and gas company (the "Vendor"), pursuant to which Logan will acquire the Vendor's entire interest in certain assets predominantly in the Company's core area at Simonette, Alberta (the "Acquired Assets") for cash consideration of $62.5 million, prior to closing adjustments (the "Acquisition"). In all other respects, the terms of the Equity Offerings and use of proceeds therefrom will remain as previously disclosed in the February 19, 2026 press release.

Closing of the Equity Offerings will be conditional on the completion of the Acquisition in accordance with the terms of an asset purchase agreement between Logan and the Vendor dated February 19, 2026, in respect of the Acquisition and other customary closing conditions, including the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange ("TSXV"). Closing of the Equity Offerings is expected to occur immediately following closing of the Acquisition on March 10, 2026.

ABOUT LOGAN ENERGY CORP.

Logan is a growth-oriented exploration, development and production company formed through the spin-out of the early stage Montney assets of Spartan Delta Corp. Logan has three high quality and opportunity rich Montney assets located in the Simonette and Pouce Coupe areas of northwest Alberta and the Flatrock area of northeastern British Columbia. Additionally, the Company has established a position within the greater Kaybob Duvernay oil play with assets in the North Simonette, Ante Creek and Two Creeks areas. The management team brings proven leadership and a track record of generating excess returns in various business cycles.

READER ADVISORIES

Forward-Looking and Cautionary Statements

Certain statements contained within this press release constitute forward-looking statements within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "endeavor", "continue", "estimate", "evaluate", "expect", "forecast", "monitor", "may", "will", "can", "able", "potential", "target", "intend", "consider", "focus", "identify", "use", "utilize", "manage", "maintain", "remain", "result", "cultivate", "could", "should", "believe" and similar expressions (or grammatical variations or negatives thereof). Logan believes that the expectations reflected in such forward-looking statements are reasonable as of the date hereof, but no assurance can be given that such expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Without limitation, this press release contains forward-looking statements pertaining to: the completion of the Equity Offerings;  timing of closing of the Acquisition and the Equity Offerings; receipt of required regulatory and stock exchange approvals for the completion of the Equity Offerings; and insider participation in the Equity Offerings. The forward-looking statements and information are based on certain key expectations and assumptions made by Logan, including, but not limited to, expectations and assumptions concerning: the receipt of all approvals and satisfaction of all conditions to the completion of the Equity Offerings. Although Logan believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Logan can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to, counterparty risk to closing the Acquisition and the Equity Offerings. The foregoing list is not exhaustive. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. Logan undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

This press release is not an offer of the securities for sale in the United States. The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")) or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Logan Energy Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2026/20/c8448.html