Vancouver, British Columbia--(Newsfile Corp. - January 29, 2026) - CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (OTCQB: CCEYF) ("CanCambria" or the "Company") is pleased to announce today that, further to its news releases dated January 5, 2026, and January 15, 2026, it has closed a second upsize of its non-brokered private placement (the "Offering") for gross proceeds of CAD $3,275,350, through the sale of 8,188,375 units (each, a "Unit") at a price of $0.40 per Unit. Each Unit is comprised of one common share (each, a "Share") and one share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to acquire one additional common share (each, a "Warrant Share") of the Company at an exercise price of $0.50 per Warrant Share for a period of three (3) years following the closing of the Offering. The Units, Shares, Warrants, and any Shares issued upon the exercise of the Warrants will be subject to a hold period of four months and one day, expiring May 30, 2026.

The net proceeds from the Offering will be used to fund the procurement of long-lead items pursuant to the start of the 2026 drilling program, ongoing technical resource evaluation of the Kiskunhalas Concession Area, support of the Joint Venture process for the BA-IX tight-gas field, and for general corporate purposes.

Dr. Paul Clarke, CEO of CanCambria, stated: "We are very pleased to announce the successful close of our twice-upsized private placement and are grateful for the continued support of our existing shareholders, as well as the strong interest from new investors joining CanCambria. In addition, the offering included participation by management and key company associates who collectively purchased shares representing approximately 5% of the Units offered. This financing positions the Company well as we continue preparations to initiate the Kiskunhalas Project drilling program. The proceeds will be used to secure long-lead time items critical to advancing our development plans. We appreciate the confidence our shareholders have placed in our strategy, and we look forward to delivering meaningful progress this year."

The Company paid a cash finder's fee of $156,924 and issued 392,310 non-transferable finder's warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder to acquire one common share (the "Finder's Warrant Shares") at a price of $0.50 per Finder's Warrant Share, expiring January 29, 2029. Other than being non-transferable, each Finder's Warrant is otherwise on the same terms as the Warrants. The Units, Shares, Warrants, Warrant Shares, Finder's Warrants, and Finder's Warrant Shares are collectively referred to herein as the "Securities".

The Units were offered pursuant to available prospectus exemptions set out under applicable securities laws and instruments, including National Instrument 45-106 - Prospectus Exemptions.

Insiders of the Company participated in the Offering and purchased a total of 250,000 Units, which constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(a) of MI 61-101, on the basis that participation in the Offering by Insiders would not exceed 25% of the fair market value of the Company's market capitalization.

None of the Securities sold in connection with the Offering have been or will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

Other Corporate Matters

Pursuant to the Company's press release dated December 2, 2025, and the consulting services agreement entered into between CanCambria and Larry Busnardo, in his role as Vice President, Investor Relations, the Company agreed to pay a cash consulting fee of US$15,500 per month. The agreement has a term of three years and may be terminated by either party upon 30 days' written notice.

About CanCambria Energy Corp.

CanCambria Energy Corp. is a Canadian-based exploration and production company specializing in tight gas development. With a globally experienced leadership team, CanCambria focuses on high-quality, de-risked projects with direct access to profitable markets. Leveraging the industry's most advanced technologies the Company aims to commercialize their flagship asset, the 100% owned Kiskunhalas Project in southern Hungary, a significant gas-condensate resource in the heart of Europe.

CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS

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.

Certain information other than statements of historical facts contained in this news release constitutes "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding the Offering, Company's business plans, expectations, capital costs and objectives. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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