Vancouver, British Columbia–(Newsfile Corp. – February 9, 2026) – New Zealand Energy Corp. (TSXV: NZ) (“NZEC” or the “Company“) is pleased to announce that it has closed its previously announced non-brokered private placement of 17,500,000 common shares of the Company (the “Common Shares“) at a price of C$0.20 per Common Share for aggregate gross proceeds of C$3,500,000 on a non-brokered basis (the “Offering“).
The Offering was completed pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106“), as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, to purchasers that are resident in Canada. The Offering was also made available to purchasers that are resident in certain jurisdictions outside of Canada, including the United States and the United Kingdom, in compliance with applicable securities laws.
The Company intends to use the net proceeds from the Offering to fund the advancement of its gas storage business and for general corporate purposes.
The Company paid advisory fees of C$29,250 in cash to certain arm’s length parties in connection with the Offering.
Toby Pierce and Robert Bose are insiders of the Company and participated in the Offering by purchasing 800,000 and 1,800,000 Common Shares, respectively, for an aggregate subscription amount of C$535,000. Accordingly, the Offering constitutes a “related party transaction” for the Company within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval under MI 61-101 as the fair market value of each of the insider’s participation in the Offering does not exceed more than 25% of the market capitalization of the Company, as set forth in Sections 5.5(a) and 5.7(1)(a) of MI 61-101.
About New Zealand Energy Corp.
NZEC is a publicly listed energy company focused on the development of oil, gas, and gas-storage opportunities in New Zealand. The Company holds interests in multiple heritage assets and development-stage projects, including the Tariki Gas Storage Project located on New Zealand’s North Island in the Taranaki Basin. With a 50% ownership stake in the Waihapa production station, the Company can quickly tie in any near-term production and sell directly to market. For more information, please visit www.newzealandenergy.com.
