Mr. Trevor White reports

SITKA POWER INC. COMPLETES ACQUISITION OF SYNEX RENEWABLE ENERGY CORPORATION

Synex Renewable Energy Corp. and Sitka Power Inc. have completed the acquisition of all of the common shares of Synex by Sitka in an all-cash transaction pursuant to a plan of arrangement under Part 9, Division 5, of the Business Corporations Act (British Columbia). Sitka acquired each common share for $2.40, for total consideration of $12,017,474.40.

Trevor White, president and chief executive officer of Sitka, and president of Synex, commented:

"We are happy to have achieved all approvals and consents to finalize this transaction, and we're appreciative to all of those that supported from both sides. This acquisition expands our operating asset base to British Columbia, and with it comes an impressive pipeline of development projects during a significant stage of growth and demand in the market."

With the arrangement now complete, the common shares will be delisted from the Toronto Stock Exchange in the coming days. The company has submitted an application to cease to be a reporting issuer under applicable Canadian securities laws and to otherwise terminate the company's public reporting requirements.

In connection with the completion of the arrangement, Tanya DeAngelis, Daniel J. Russell, Majed Masad, Richard McGivern and Danny Sgro resigned from the board of directors of the company, each of Ms. DeAngelis, Mr. Russell and Hari Rupawala ceased to be an officer of Synex and representatives of Sitka were appointed as directors and officers of Synex.

Details regarding the arrangement are set out in Synex's management information circular and proxy statement dated April 24, 2025, a copy of which can be found under Synex's profile on SEDAR+.

Additional early warning report information

Upon completion of the arrangement, Sitka holds 5,007,281 common shares, representing 100 per cent of the issued and outstanding common shares. Immediately prior to the completion of the arrangement, Sitka did not hold, directly or indirectly, any common shares. An early warning report containing additional information will be filed by Sitka in accordance with applicable securities laws and will be available on SEDAR+ or may be obtained directly from Sitka upon request to Cory St. Croix at 866-467-4852. The head office address of Sitka is suite 1500 -- 639 5 Ave. SW, Calgary, Alta., T2P 0M9.

About Synex Renewable Energy Corp.

Synex is a Vancouver, British Columbia-based, company engaged in the development, acquisition, ownership and operation of renewable energy projects in Canada. It has ownership interests in 11 megawatts of operating hydro projects in British Columbia and owns a Vancouver Island grid connection and utility carrying on business as Kyuquot Power Ltd. The company also has 9.4 MW of construction ready run-of-river projects, applications and land tenures on another 24 potential hydroelectric sites totaling over 150 MW of capacity, and approximately 16 wind development sites that could provide up to 4,700 MW of clean power in British Columbia.

About Sitka Power Inc.

Sitka is a small-scale Canadian renewable energy developer and independent power producer, headquartered in Calgary, Alta., and active in British Columbia, Alberta, Saskatchewan and Ontario. Sitka is a portfolio company of Long Life Capital Management -- Canadian Infrastructure Fund I LP, which, via its general partner Long Life Capital Management -- Canadian Infrastructure Fund I GP, is managed by Long Life Capital Holdings Inc., a private equity manager.

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