Vancouver, British Columbia and Calgary, Alberta--(Newsfile Corp. - August 12, 2026) - NU E Power Corp. (CSE: NUE) (OTC Pink: NUEPF) (FSE: NUE1) ("NUE" or the "Company") is pleased to announce that it has closed the second tranche of its previously announced non-brokered private placement of units of the Company, as upsized by the Company's news release dated August 11, 2026 (the "Offering").

Pursuant to the second tranche closing, the Company issued 12,609,019 units (the "Units") at a price of $0.15 per Unit for additional gross proceeds of $1,891,353 (the "Second Tranche").

Together with the first tranche of the Offering, which closed on July 8, 2026 for gross proceeds of $1,968,700 through the issuance of 13,124,667 Units, the Company has raised aggregate gross proceeds of $3,860,053 under the Offering. The Offering was oversubscribed relative to the Company's previously announced upsized offering amount of $3,800,000 and is now closed.

Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant (a "Warrant") entitles the holder to purchase one additional common share of the Company at an exercise price of $0.25 for a period of three years from the applicable closing date, subject to the acceleration provisions described in the Company's prior news releases.

The net proceeds from the Second Tranche are expected to be used for advancement of the Company's project portfolio, acquisition and evaluation of additional power infrastructure opportunities, working capital, and general corporate purposes.

Finder's Fees

In connection with the Second Tranche, the Company paid eligible finders aggregate cash fees of $75,015 and issued 606,897 broker warrants. Each broker warrant entitles the holder to acquire one Unit of the Company at an exercise price of $0.15 for a period of 24 months from the closing date, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange (the "CSE").

All securities issued under the Second 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 CSE. The Warrants will not be listed on the CSE 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.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any applicable state securities laws. Accordingly, the securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction where such offer or sale would be unlawful.

About NU E Power Corp.

NU E Power Corp. 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.

Forward-Looking Information

This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information"). Such forward-looking information is provided to inform the Company's shareholders and potential investors about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "anticipate", "intends", "expects", "may", "will", and similar expressions, although not all forward-looking information contains these identifying words.

More particularly and without limitation, the forward-looking information in this news release includes statements regarding: the anticipated use of proceeds from the Second Tranche and the Offering generally; the availability of applicable prospectus exemptions; compliance with applicable securities laws and CSE policies; the Company's ability to advance its portfolio of power and energy infrastructure projects and to evaluate and pursue new development and acquisition opportunities; and the Company's ability to fund general working capital and administrative requirements.

Such forward-looking information is based on a number of assumptions, including continued availability of applicable prospectus exemptions; compliance with applicable securities laws and CSE policies; and the Company's ability to apply the proceeds of the Offering as currently intended.

Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. Actual results may differ materially from those expressed or implied by forward-looking information. Such risks and uncertainties include, but are not limited to: applicable regulatory requirements may not be met; the Company may use proceeds differently than currently intended as circumstances change; project advancement, development and acquisition activities may not proceed as expected; anticipated demand growth from artificial intelligence, data centres, industrial electrification and other large-scale energy users may not materialize as expected or on the anticipated timeline; additional financing may be required; and other risks customary to CSE-listed issuers.

Additional risk factors are described in the Company's continuous disclosure documents available on SEDAR+ at www.sedarplus.ca. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of this release.

"NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES"

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309421

Source: NU E Power Corp.