Mr. Matt Zahab reports

HYLQ ANNOUNCES CLOSING OF FINAL TRANCHE OF PRIVATE PLACEMENT

Further to HYLQ Strategy Corp.'s (formerly, Tony G Co-Investment Holdings Ltd.) press releases of July 23, 2025, and Aug. 18, 2025, the company has closed the final tranche of its non-brokered private placement financing through the issuance of 1,995,979 units at a price of $1.50 per unit for gross proceeds of $2,993,968.50. In total, the company issued an aggregate of 5,333,332 units in the first and final tranches of the offering for gross proceeds of $7,999,998.

Each unit comprises one common share of the company and one whole common share purchase warrant of the company. Each warrant entitling the holder thereof to purchase one common share at a price of $1.75 per common share for a period of 24 months from the date of issuance, provided, however, that should the closing price at which the common shares trade on the Canadian Securities Exchange (or any such other stock exchange in Canada as the common shares may trade at the applicable time) exceed $3.50 for 90 consecutive trading days at any time following the date that is four months and one day after the date of issuance, the company may accelerate the warrant term (the reduced warrant term) such that the warrants shall expire on the date which is 30 business days following the date a press release is issued by the company announcing the reduced warrant term.

In connection with the closing of the offering, the company paid certain eligible persons a cash commission in the amount of $72,720 and issued an aggregate of 48,480 broker warrants. Each broker warrant is exercisable at $1.75 for a period of 24 months from the date of issuance, provided, however, that should the closing price at which the common shares trade on the Canadian Securities Exchange (or any such other stock exchange in Canada as the common shares may trade at the applicable time) exceed $3.50 for 90 consecutive trading days at any time following the date that is four months and one day after the date of issuance, the company may accelerate the broker warrant term such that the broker warrants shall expire on the date which is 30 business days following the date a press release is issued by the company announcing the reduced broker warrant term.

Gross proceeds raised from the offering will be used to purchase $HYPE (Hyperliquid tokens) for HYLQ's treasury, investments in the Hyperliquid ecosystem and general working capital purposes. All securities issued in connection with the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

The offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101) as insiders of the company subscribed for an aggregate of 408,653 units. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the company is not listed on a specified market and the fair market value of the participation in the offering by insiders does not exceed 25 per cent of the market capitalization of the company in accordance with MI 61-101. The company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the of the offering, which the company deems reasonable in the circumstances in order to complete the offering in an expeditious manner.

We seek Safe Harbor.