General Fusion says prior Spring Valley Q1 financials should not be relied upon after subscription liability overstatement

• General Fusion flagged an overstatement in a non-cash subscription liability in Spring Valley’s quarter ended March 31, 2026 financials.
• Board concluded on Aug. 17, 2026 those condensed consolidated statements should no longer be relied upon.
• An amended Form 10-Q restatement is expected “as soon as practicable.”
• Liability did not affect cash assets, was extinguished at the July 10, 2026 business combination and $107.7 million PIPE financing close.

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. General Fusion Group Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-098030), on August 18, 2026, and is solely responsible for the information contained therein.