Dune Oil Announces CAD 14 Million Debt Conversion Into Shares

• Dune Oil will convert CAD 14 million of principal and interest on its 12% convertible debentures into equity, extinguishing all debenture obligations.
• The settlement entails issuing 93,333,334 common shares at CAD 0.15 per share, with closing expected around October 27, 2026.
• Settlement shares will be subject to a contractual lockup with releases over 36 months.
• Shares outstanding will rise to 163,569,062, leaving existing shareholders with approximately 42.94% of the total.
• The CSE granted a hardship exemption from shareholder approval, citing a working capital deficit and near-term cash requirements.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Dune Oil Corp. published the original content used to generate this news brief via Newsfile (Ref. ID: 202610260850NEWSFILECNPR____20261026_320866_1) on October 26, 2026, and is solely responsible for the information contained therein.