Libra Announces Closing of Second and Final Tranche of Offering Financing

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, Ontario--(Newsfile Corp. - September 24, 2026) - Libra Energy Materials Inc. (CSE: LIBR) (OTCQB: LIBRF) (FSE: W0R0) ("Libra" or the "Company") is pleased to announce that it has closed the second and final tranche of its non-brokered private placement financing (the "LIFE Offering") previously announced August 28, 2026, and upsized on September 4, 2026, and September 11, 2026. The Company announced closing of the first tranche on September 18, 2026, to raise gross proceeds of $1,399,521.91.

The second and final tranche closing raised an aggregate of $485,878.04, consisting of the following:

• $110,878.04 through the issuance of 852,908 critical mineral flow-through common shares ("CMETC FT Shares") at a price of $0.13 per CMETC FT Share; and

• $375,000 through the issuance of 3,750,000 non-flow-through common shares ("HD Shares") at a price of $0.10 per HD Share.

(collectively the "Shares").

The LIFE Offering resulted in the issuance of an aggregate of 3,084,615 CMETC FT Shares ($400,999.95) and 14,844,000 HD Shares ($1,484,400) for a raise of gross aggregate proceeds to the Company of $1,885,399.95.

"We are very pleased with the quality of the book. Existing shareholders accounted for approximately half of the shares issued, including insiders and advisors who took more than 15%. Institutional support was equally strong, with long-term funds and family offices representing about one-third of the placement, the majority of that demand coming from Australia. The financing also broadened the register internationally, with Europeans and Australian investors covering approximately 15% and 25% of the book, respectively. We thank our existing shareholders for doubling down, and we welcome our new investors at an important moment as we advance Cisco West and Obamska toward discovery," said Koby Kushner, CEO of Libra.

The Company relied on the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), as amended and supplemented by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. Accordingly, the Shares issued in the LIFE Offering are not subject to resale restrictions pursuant to applicable Canadian securities laws.

The Company intends to use the net proceeds of the LIFE Offering, as more specifically described in the Amended and Restated Offering Document dated September 11, 2026, and for exploration activities, general corporate and working capital purposes. There is an Amended and Restated Offering Document related to the LIFE Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at https://libraenergymaterials.com/private-placement-august-2026.

In connection with the second tranche of the LIFE Offering, the Company paid an aggregate cash finder's fee of $2,000 to an eligible finder, together with $1,500 in the first tranche, for total finders' fees of $3,500 payable in cash, on proceeds raised from subscribers introduced by such finder, in accordance with applicable securities laws and Canadian Securities Exchange requirements. No insider of the Company participated in the second tranche of the LIFE Offering. An aggregate of 1,319,000 HD Shares for aggregate proceeds of $131,900 were subscribed for by insiders in the first tranche. The participation by insiders constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions ("MI 61-101"). The Company has relied on applicable exemptions from the formal valuation and minority approval requirements in Sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101. The Company did not file a material change report with respect to the insider participation more than 21 days before the expected closing of the LIFE Offering, as the details and amounts of the insider participation were not finalized until shortly prior to closing and the Company wished to close the transaction as soon as practicable for sound business reasons.

Completion of the LIFE Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange.

None of the foregoing Shares have been or will be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Libra Energy Materials Inc.

Libra (CSE: LIBR) (OTCQB: LIBRF) (FSE: W0R0) is a Canadian mineral exploration company focused on the discovery and development of the critical minerals necessary for the green energy transition. Libra's flagship Canadian projects include the recently optioned Cisco West and Obamska lithium projects in Québec, located adjacent to Q2 Metals' Cisco deposit - the largest hard-rock lithium deposit in the Western Hemisphere. Libra's Flanders North, Flanders South, and SBC lithium projects in Ontario are being explored under a CAD $33 million earn-in deal with KoBold Metals Company. In addition, Libra holds a broader portfolio of battery metals projects across Canada and Brazil. The Libra team comprises a mix of seasoned executives, engineers, and geoscientists, with extensive experience in mining and mineral exploration, capital markets, asset management, energy, and First Nations engagement.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such statements relate to future events and include, without limitation, statements regarding the Option Agreement and the Company's ability to satisfy the conditions thereunder, exploration programs on the Projects, prospecting and exploration activities, geological interpretations, permitting and licensing, community engagement, timing of exploration activities, reliance on third parties, and other risks associated with the natural resources industry. All statements other than historical facts are forward-looking statements.

These forward-looking statements are based on assumptions and expectations considered reasonable by management at the time they were made; however, no assurance can be given that such expectations will prove correct. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated. Accordingly, readers should not place undue reliance on such statements.

The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update or revise them, except as required by applicable securities laws. Readers are cautioned that the foregoing list of factors is not exhaustive.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) 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/315806

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