Vancouver, British Columbia--(Newsfile Corp. - June 23, 2026) - Navigator Acquisition Corp. (TSXV: NAQ.P) ("Navigator" or the "Company") announces that it has entered into a debt settlement agreement with a certain creditor of the Company in the aggregate amount of $180,303.30 (the "Debt Settlement").

Pursuant to the Debt Settlement, the Company will satisfy the outstanding indebtedness through the issuance of an aggregate of 1,803,033 common shares of the Company (the "Shares") at a deemed price of $0.10 per Share, to be issued in two tranches.

The first tranche will consist of 985,963 Shares and will be issued immediately upon receipt of TSX Venture Exchange (the "Exchange") approval and will be deposited into escrow.

The second tranche will consist of 817,070 Shares and remains subject to approval by the Exchange and by a simple majority of the disinterested votes cast by shareholders represented by proxy at an upcoming meeting of shareholders.

All the securities distributed under the foregoing Debt Settlement shall be subject to a resale restriction that shall expire on the date which is 4 months and day from the date of issuance of such shares.

Insiders of the Company participation in the foregoing offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired by the insiders, nor the consideration for the securities paid by such insiders, exceed 25% of the Company's market capitalization.

About Navigator

Navigator Acquisition Corp. is a British Columbia capital pool company.

Further information about the Company is on the SEDAR+ website at www.sedarplus.ca

Forward-Looking Information:

This press release may include "forward-looking statements", including forecasts, estimates, expectations, and objectives for future operations that are subject to several assumptions, risks, and uncertainties, many of which are beyond the control of Navigator. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among other things, include: the closing of the Private Placement and the Shares for Debt Settlement, receipt of Exchange and applicable regulatory approvals, impacts arising from changes in general macroeconomic conditions; changes in securities markets; change in national and local government, legislation, taxation, controls and regulations and political or economic developments. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Readers are cautioned not to place undue reliance on forward looking statements or information. The forward- looking information set forth herein reflects the Company's reasonable expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302649

Source: Navigator Acquisition Corp.