Calgary, Alberta--(Newsfile Corp. - April 9, 2026) - Cobra Venture Corporation (TSXV: CBV) ("Cobra") wishes to provide the following update to its news release dated March 17, 2026 announcing the definitive agreement with Robinson Energy Limited ("Robinson") in respect of a proposed reverse takeover transaction (the "Transaction").

Further to the section entitled "Bridge Loan" in the March 17, 2026 news release, Cobra confirms that the TSX Venture Exchange (the "Exchange") has approved a bridge loan to Robinson in the amount of $415,235.00, rather than $500,000 as previously disclosed (the "Bridge Loan"). All other material terms of the Bridge Loan, including the interest rate of 7% per annum, security over all of the assets of Robinson, and the maturity provisions, remain unchanged.

Except as expressly set out herein, all other disclosure contained in the March 17, 2026 news release remains accurate and unchanged.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the Transaction and certain terms and conditions thereof; the completion of the Transaction and anticipated results thereof; the parties' continued negotiations and good faith with respect to the Transaction; financing details, expectations regarding future financings and the use of proceeds thereof; and future press releases and disclosure. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: future prices and the supply of hydrocarbons; future demand for hydrocarbons; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the property; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; risks of the oil and gas industry; delays in obtaining governmental approvals; and failure to obtain regulatory or shareholder approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cobra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291849