08:35:52 EST Wed 11 Feb 2026
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Nexera in talks with debtholders to eliminate all debt

2026-02-10 20:22 ET - News Release

Mr. Shelby Beattie reports

NEXERA ENERGY INC. ANNOUNCES INTENTION TO ELIMINATE LIABILITIES ON BALANCE SHEET

Nexera Energy Inc. is actively negotiating with its debtholders to eliminate substantially all debt from the company's balance sheet, marking a pivotal step in Nexera's strategic transformation.

The company is pursuing a comprehensive balance sheet restructuring that is expected to resolve outstanding obligations through a combination of debt forgiveness and the conversion of debt into equity. Any debt converted into common shares will be issued at five cents per share or higher.

This initiative is designed to reset Nexera's capital structure, materially strengthen its financial position and remove legacy constraints that have limited the company's ability to scale. Upon completion, Nexera expects to emerge with a significantly cleaner balance sheet, enhanced financial flexibility, and a clear runway to execute its previously announced change of business and growth strategy.

Mike Rice, chief financial officer of Nexera, commented: "This restructuring is about decisively positioning Nexera for growth. Eliminating legacy liabilities unlocks our ability to accelerate our company's transition from oil and gas to waste tire recycling. We are focused on building a stronger, more investable company with a clear path to execution and value creation."

The proposed transactions remain subject to final agreements with debtholders, approval of the TSX Venture Exchange and satisfaction of all applicable regulatory requirements. Nexera will provide additional updates as material milestones are achieved.

About Nexera Energy Inc.

Nexera Energy is an energy company focused on the acquisition, development and operation of oil-producing properties in southwestern Texas. Nexera owns and operates the Lavernia, Wooden Horse and Stockdale Horizon projects, and is the 100-per-cent owner of Production Resources Inc., a south Texas oil company.

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