Mr. Broderick Gunning reports

NU E POWER CORP. CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT, RAISING $1.97 MILLION TO ACCELERATE POWER INFRASTRUCTURE GROWTH

NU E Power Corp. has successfully closed the first tranche of its previously announced non-brokered private placement, raising gross proceeds of $1,968,700 through the issuance of 13,124,667 units at a price of 15 cents per unit.

The first tranche represents approximately 66 per cent of the company's previously announced $3.0-million financing and reflects strong participation from investors who share management's long-term vision for NU E's expanding power infrastructure platform. Subject to receipt of additional subscriptions, customary closing conditions and regulatory approvals, the company expects to complete one or more additional tranches for aggregate gross proceeds of up to $3-million.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the company at an exercise price of 25 cents for a period of three years from the applicable closing date, subject to the acceleration provisions described below.

Positioning NU E for continued growth

The proceeds from the offering will provide additional financial flexibility as the company advances its growing portfolio of energy infrastructure projects and evaluates new development opportunities.

Net proceeds from the first tranche are expected to be used for:

• Advancement of the company's project portfolio, and acquisition and evaluation of additional power infrastructure opportunities;
• Working capital;
• General corporate purposes.

Management believes reliable power infrastructure continues to be one of the most important enabling assets supporting the rapid expansion of artificial intelligence, data centres, industrial electrification and other large-scale energy users throughout North America. The company continues to focus on identifying, originating and advancing projects capable of serving these rapidly growing markets.

Warrant acceleration

If the closing price of the company's common shares on the Canadian Securities Exchange equals or exceeds 40 cents for 10 consecutive trading days at any time after the date that is four months and one day following the applicable closing date and before the expiry of the warrants, the company may accelerate the expiry of the warrants by providing written notice to holders. In such event, the warrants will expire 30 calendar days following the date of the notice. The company will issue a news release on the same day any acceleration notice is delivered.

Finders' fees

In connection with the first tranche, the company paid eligible finders aggregate cash fees of $32,472 and issued 716,680 broker warrants. Each broker warrant entitles the holder to acquire one unit of the company at an exercise price of 15 cents for a period of 24 months from the closing date, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.

All securities issued under the first tranche are subject to a statutory hold period of four months and one day from the closing date in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange. The warrants will not be listed on the Canadian Securities Exchange or any other exchange.

The offering is being completed pursuant to available prospectus exemptions under National Instrument 45-106, Prospectus Exemptions, including the accredited investor exemption and, where applicable, the minimum amount investment exemption.

About NU E Power Corp.

NU E Power is an energy infrastructure company focused on the origination, development and advancement of integrated power and energy park opportunities. The company emphasizes strategic site positioning, grid access and disciplined stage-gated project development across selected markets serving compute-intensive and other large-load industrial demand.

We seek Safe Harbor.