The TSX Venture Exchange has accepted for filing documentation with respect to an arm's-length acquisition of all of the issued and outstanding common shares of Kraken Energy Corp.

Pursuant to the arrangement agreement dated April 1, 2025, between Aero Energy Ltd. and Kraken, Aero acquired all of the issued and outstanding common shares of Kraken. In exchange, former shareholders of Kraken received 0.97037 common share of Aero for each common share of Kraken held.

Consideration

Shares:  Aero issued 57,922,392 common shares of Aero to the former shareholders of Kraken.

Options:  All then outstanding stock options of Kraken were exchanged for 1,819,442 replacement stock options of Aero, with the amount and exercise price adjusted based on the exchange ratio.

Warrants:  All 2,868,478 then outstanding warrants of Kraken became exercisable to acquire common shares of Aero, with the amount and exercise price adjusted based on the exchange ratio.

The transaction is arm's length in nature and no finders' fees were paid.

For further details, please refer to Aero's news releases dated April 2, 2025, and June 23, 2025.