DRAXOS CAPITAL CORP. ANNOUNCES VOLUNTARY ADOPTION OF SEMI-ANNUAL FINANCIAL REPORTING

TORONTO, Aug. 28, 2026 /CNW/ -- Draxos Capital Corp. (TSXV: DRAX.P) (the "Company" or "Draxos") announces that it has elected to rely on the exemptions provided under Coordinated Blanket Order 51-933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (the "Blanket Order") and voluntarily adopt semi-annual financial reporting (the "SAR Pilot"). The Blanket Order is a Canadian securities regulators' pilot program that allows eligible venture issuers to voluntarily move from quarterly to semi-annual financial reporting.

The Company has a fiscal year end of September 30. Under the SAR Pilot, the Company will be exempt from filing interim financial reports and related management's discussion and analysis ("MD&A") for its first and third fiscal quarters. Accordingly, the Company will not file interim financial statements or related MD&A for the nine-month period ending June 30, 2026, and will not file interim financial statements or related MD&A for subsequent first and third quarter reporting periods while it remains eligible to participate in the SAR Pilot.

The Company confirms that it satisfies the eligibility requirements of the Blanket Order, including being a venture issuer with annual revenues of less than $10 million in its most recently filed audited annual financial statements, having been a reporting issuer in at least one jurisdiction for at least 12 months, and having filed all required periodic and timely disclosure documents. The Company remains committed to timely disclosure and will continue to report all material changes and significant developments in accordance with National Instrument 51-102 Continuous Disclosure Obligations.

The Company's board of directors approved the transition to semi-annual reporting to significantly reduce the administrative and compliance burdens associated with quarterly reporting. This shift allows management to optimize resource allocation, redirecting executive time and corporate capital directly toward enhancing the Company's core business objectives and strategic growth initiatives.

The Company will continue to file audited annual financial statements (due within 120 days of September 30) and six-month interim financial reports and related MD&A (due within 60 days of March 31).

This news release is being filed pursuant to Coordinated Blanket Order 51–933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.

About Draxos Capital Corp.

Draxos is a capital pool company ("CPC") governed by the policies of the TSX Venture Exchange ("TSXV"). The Company has not commenced commercial operations and has no assets other than cash. In accordance with TSXV policies, until the completion of its Qualifying Transaction (as defined in the policies of the TSXV), Draxos will not carry on any business other than the identification and evaluation of businesses, assets or companies with a view to completing a proposed Qualifying Transaction.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information. These statements include the Company's transition to a semi-annual financial reporting framework, its continued eligibility under Coordinated Blanket Order 51-933, and the anticipated timings and nature of its future financial reporting obligations. The use of any of the words "will", "expected", "view" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

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

SOURCE Draxos Capital Corp

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