Mr. John Newman reports

NU E POWER CORP. SECURES USD 6.2 MILLION LOAN FINANCING AGREEMENT

NU E Power Corp. has secured a $6.2-million (U.S.) debt financing and has executed a financing agreement with Global Green Asset Finance Ltd. (GGAF) for project financing of up to $6.2-million (U.S.) in non-revolving senior secured debt. Proceeds from the financing will be used for corporate acquisitions.

Devon Sandford, chief executive officer of NU E, commented: "We are very thankful for the support and confidence in NU E that GGAF has demonstrated. The $6.2-million (U.S.) facility will allow us to aggressively pursue opportunities and acquisitions that are in our opinion both valuable and accretive to NU E while limiting dilution."

The following is a summary of the material terms of the agreement.

GGAF will provide a secured loan of up to $6.2-million (U.S.):

1. One-year term with no penalty for early repayment;
2. Interest rate of 20 per cent payable monthly in arrears;
3. The company shall be required to repay all or a portion of the debt, as applicable, upon the occurrence of certain future prepayment events.

The terms noted above are subject to change at the time of authorization.

The loan documentation is subject to final due diligence and satisfaction of customary loan conditions and is progressing. Closing is expected to occur in May, 2025.

About NU E Power Corp.

NU E Power is a green energy company focused on the developing, construction and operating clean and renewable energy infrastructure across North America. The company has a partnership with Low Carbon Canada Solar Ltd., a subsidiary of the United Kingdom-based renewables major Low Carbon Investment Management Ltd., to facilitate non-dilutive investment into the company, with the goal of developing up to two gigawatts of renewable energy projects in Canada by 2030.

We seek Safe Harbor.