CSE bulletin 2026-0325

Mustang Energy Corp. has completed a plan of arrangement, consisting of a sale and transfer of all the issuer's interest in its Ford Lake, Roughrider South and Cigar East properties to its wholly owned subsidiary, Allied Strategic Resource Corp., in consideration for 6.4 million shares of Allied.

The transaction will be undertaken by way of a statutory plan of arrangement, whereby the issuer will, among other things: (i) rename and redesignate its common shares as Class A common shares without par value; and (ii) amend the authorized share structure of the issuer to create a new class of shares consisting of an unlimited number of common shares without par value with terms and special rights and restrictions identical to those of the Mustang current shares immediately prior to the closing of the transaction.

Each Mustang current share held by the issuer's shareholders of record on March 26, 2026, will be exchanged for one new Mustang share and such number of Allied spinout shares equal to one multiplied by the distribution fraction, which is calculated by dividing the total number of Allied spinout shares by the number of common shares of Mustang issued and outstanding immediately prior to the effective time of the arrangement.

The new Mustang shares will commence trading at the market open on March 27, 2026.

Old security name:  Mustang Energy -- common shares

Symbol:  MEC

Cusip No.:  62821U 10 0

ISIN:  CA 62821U 10 0 3

Delisting date:  March 26, 2026

New security name:  Mustang Energy -- common shares

Symbol:  MEC

New Cusip No.:  627931 10 8

New ISIN:  CA 627931 10 8 9

Anticipated payment date:  March 27, 2026

Effective trading date:  March 27, 2026