11:00:19 EDT Wed 16 Sep 2026
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Albatros Acquisition Corp Inc
Symbol ALBT
Shares Issued 5,057,170
Close 2026-04-10 C$ 0.02
Market Cap C$ 101,143
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Albatros QT target Latitude 6 makes 1st option payment

2026-09-16 09:35 ET - News Release

Subject: Press Release - Albatros Acquisition Corporation Inc. [BCF-BCFDOCS.FID15026070] PDF Document

File: Attachment Press release announcing closing of Private placement of Latitude 6.pdf

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE SECURITIES 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 STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER OR SALE OF SECURITIES IN THE UNITED STATES.

ALBATROS ACQUISITION CORPORATION INC. UPDATE ON QUALIFYING TRANSACTION

Montreal, Quebec September 16, 2026 Albatros Acquisition Corporation Inc. (TSXV: ALBT.P) ("Albatros") announces that it has received confirmation that Inversiones Purimac S.A.S., the wholly owned Colombian subsidiary of Latitude 6 Capital Inc. ("Latitude 6"), has fulfilled its first payment obligation in the amount of six hundred million Colombian pesos (COP $600,000,000) (approximately C$269,000), pursuant to the operation and option agreement (the "Option") for assignment of rights over special mining concession ARE-283 (the "Property"), in respect of the option to acquire fifty percent (50%) of rights over the mining title. A second payment of seven hundred million Colombian pesos (COP $700,000,000) (approximately C$314,000) is scheduled to be made on December 1st, 2026, in accordance with the Option. Following completion of the second payment, Latitude 6 will have secured its 50% interest in the Property pursuant to the terms of the Option.

Financing

Albatros is also pleased to announce that Latitude 6 has now closed an aggregate of $525,000 of its previously announced non-brokered private placement (the "Private Placement") of units (each, a "Unit") of Latitude 6. Latitude 6 is currently working to close additional tranches of the Private Placement.

Each Unit consists of one common share in the capital of Latitude 6 and one-half of one share purchase warrant (each whole warrant, a "Warrant"), with each Warrant entitling the holder thereof to purchase one additional common share at a price of $0.30 for a period of 24 months from the date of issuance.

The net proceeds of the Private Placement have been used to fund the Option payment, for general working capital and to advance the previously announced proposed business combination with Albatros, intended to constitute Albatros' Qualifying Transaction (the "Transaction") under Policy 2.4 Capital Pool Companies ("Policy 2.4") of the TSX Venture Exchange (the "Exchange").

In connection with the Private Placement, Latitude 6 paid aggregate cash finder's fees of $25,200 and issued 126,000 compensation warrants to eligible finders (the "Compensation Warrants"). Each Compensation Warrant entitles the holder thereof to acquire one common share of Latitude 6 at an exercise price of $0.30 per share for a period of 24 months from the date of issuance.

The securities issued under the Private Placement, including the common shares underlying the Warrants and the Compensation Warrants, are subject to a hold period expiring four months and one day after the later of: (i) the date of issuance; and (ii) the date Latitude 6 becomes a reporting issuer in any province or territory.

Update on Qualifying Transaction

Albatros and Latitude 6 continue to advance the Transaction in accordance with the terms of the binding letter of intent entered into between the parties on April 29, 2026. The parties are currently finalizing the terms of a definitive agreement in respect of the Transaction (the "Definitive Agreement") and Latitude 6 is progressing with the preparation of its audited IFRS financial statements. The independent geological report on the Property under Regulation 43-101 respecting Standards of Disclosure for Mineral Projects has been completed and will be submitted to the Exchange for review as part of the conditional approval application expected to be filed shortly.

Albatros will provide further updates on the Transaction as additional details become available.

About Latitude 6

Latitude 6 Capital Inc. is a private mineral resource company incorporated under the Canada Business Corporations Act and headquartered in Pointe-Claire, Quebec, with operations in Medellin, Colombia. Latitude 6's objective is to hold and advance mineral interests in the Republic of Colombia and to become a reporting issuer in Canada through the Transaction described in this news release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements with respect to the Option payment obligations, including the second payment of seven hundred million Colombian pesos (COP $700,000,000) scheduled to be made on December 1, 2026, the Private Placement, the anticipated timing for execution of the Definitive Agreement and closing of the Transaction. Forward- looking information is based on certain assumptions and analyses made by management of each of Albatros and Latitude 6 in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward- looking information, including, without limitation: the failure to negotiate and execute a definitive agreement on the terms and within the time frames contemplated herein; the failure to obtain required regulatory, shareholder or third-party approvals; changes in general economic, market and business conditions; and other risks disclosed from time to time in Albatros' continuous disclosure record filed on SEDAR+ at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward- looking information. Neither Albatros nor Latitude 6 undertakes any obligation to update or revise any forward-looking information, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. For further information, please contact:

Latitude 6 Capital Inc. Jean-Francois Perrault

CEO Email: jfperrault@nicoenergy.ca Telephone: 514-497-8577

Albatros Acquisition Corporation Inc. Jean-Robert Pronovost

President and CEO Email: jrp@capepartners.ca Telephone: 514-581-1473

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