<p>
	<strong>le 23 mars/March 2026</strong></p>
<p>
	Mustang Energy Corp.(the 'Issuer', 'Mustang') has announced a plan of arrangement (the “Arrangement”) consisting of a sale and transfer of all the Issuer’s interest in its Ford Lake, Roughrider South and Cigar East properties to its wholly-owned subsidiary, Allied Strategic Resource Corp. (“Allied”) in consideration for 6,400,000 shares of Allied (the “Allied Spinout Shares”).</p>
<p>
	The Transaction will be undertaken by way of a statutory plan of arrangement whereby the Issuer will, among other things: (i) rename and re-designate its common shares (the “Mustang Current Shares”) as ‘Class A Common Shares without par value’; and (ii) amend the authorized share structure of the Issuer to create a new<br>
	class of shares (the “New Mustang Shares”) consisting of an unlimited number of “common shares without par value” with terms and special rights and restrictions identical to those of the Mustang Current Shares immediately prior to the closing of the Transaction.</p>
<p>
	Each Mustang Current Share held by the Issuer’s shareholders of record on March 26, 2026 will be exchanged for one New Mustang Share and such number of Allied Spinout Shares equal to (1) one multiplied by the distribution fraction, which is calculated by dividing the total number of Allied Spinout Shares by the number of common shares of Mustang issued and outstanding immediately prior to the effective time of the Arrangement.</p>
<p>
	The new Mustang Shares will commence trading at market open on March 27, 2026.</p>
<p>
	_________________________________</p>
<p>
	Mustang Energy Corp. (l’« Émetteur », « Mustang ») a annoncé un plan d’arrangement (l’« Arrangement ») consistant en la vente et le transfert de la totalité de ses intérêts dans ses propriétés Ford Lake, Roughrider South et Cigar East à sa filiale en propriété exclusive, Allied Strategic Resource Corp. (« Allied »), en contrepartie de 6 400 000 actions d’Allied (les « Actions issues de la scission d’Allied »).</p>
<p>
	L’opération sera réalisée au moyen d’un plan d’arrangement légal en vertu duquel l’Émetteur procédera notamment aux mesures suivantes : (i) renommer et requalifier ses actions ordinaires (les « Actions actuelles de Mustang ») en « Actions ordinaires de catégorie A sans valeur nominale » ; et (ii) modifier la structure des actions autorisées de l’Émetteur afin de créer une nouvelle catégorie d’actions (les « Nouvelles Actions de Mustang ») composée d’un nombre illimité d’« actions ordinaires sans valeur nominale » assorties de modalités, de droits spéciaux et de restrictions identiques à ceux des Actions actuelles de Mustang immédiatement avant la clôture de l’opération.</p>
<p>
	Chaque action Mustang courante détenue par les actionnaires inscrits de l’émetteur le 26 mars 2026 sera échangée contre une nouvelle action Mustang et un nombre d’actions issues de la scission égal à (1) un multiplié par la fraction de distribution, calculée en divisant le nombre total d’actions issues de la scission par le nombre d’actions ordinaires de Mustang émises et en circulation immédiatement avant la date d’entrée en vigueur de l’opération.</p>
<p>
	Les nouvelles actions Mustang seront négociées à l’ouverture du marché le 27 mars 2026.</p>
<div>
<table border="1" cellpadding="1" cellspacing="1">
<tbody>
<tr>
<td>
					<strong>OLD Security Name/ANCIEN Nom de sécurité:</strong>
</td>
<td>
					<span>Mustang Energy Corp. - Common Shares</span>
</td>
</tr>
<tr>
<td>
					<strong>Symbol(s)/Symbole(s):</strong>
</td>
<td>
					MEC</td>
</tr>
<tr>
<td>
					<strong>CUSIP &amp; ISIN:</strong>
</td>
<td>
					62821U100/CA62821U1003</td>
</tr>
<tr>
<td>
					<strong>Delist Date/Date de radiation :</strong>
</td>
<td>
					le 26 mars/March 2026</td>
</tr>
</tbody>
</table>
</div>
<p>
	 </p>
<div>
<table border="1" cellpadding="1" cellspacing="1">
<tbody>
<tr>
<td>
					<strong>NEW Security Name/</strong><strong>NOUVEAU</strong><strong> Nom de sécurité :</strong>
</td>
<td>
					<span>Mustang Energy Corp. - Common Shares</span>
</td>
</tr>
<tr>
<td>
					<strong>Symbol(s)/Symbole(s) :</strong>
</td>
<td>
					MEC</td>
</tr>
<tr>
<td>
					<strong>NEW/Nouveau CUSIP :</strong>
</td>
<td>
					627931 10 8</td>
</tr>
<tr>
<td>
					<strong>NEW/Nouveau ISIN :</strong>
</td>
<td>
					CA 627931 10 8 9</td>
</tr>
<tr>
<td>
					<strong>Anticipated Payment Date/Date de Paiement Prévue :</strong>
</td>
<td>
					le 27 mars/March 2026</td>
</tr>
<tr>
<td>
					<strong>Effective Trading Date/</strong><strong>Date de négociation effective :</strong>
</td>
<td>
					le 27 mars/March 2026</td>
</tr>
</tbody>
</table>
</div>
<p>
	If you have any questions or require further information please contact Listings at (416) 367-7340 or E-mail: <a href="mailto:Listings@thecse.com">Listings@thecse.com</a></p>
<p>
	Pour toute question, pour obtenir de l’information supplémentaire veuillez communiquer avec le service des inscriptions au 416 367-7340 ou par courriel à l’adresse:  <a href="mailto:Listings@thecse.com">Listings@thecse.com</a></p>


2026-0325 - Reclassification - Mustang Energy Corp. (MEC)

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