NU E Power Corp. Issues Clarifying Press Release

Calgary, Alberta and Vancouver, British Columbia--(Newsfile Corp. - August 28, 2026) - NU E Power Corp. (CSE: NUE) (OTC Pink: NUEPF) (FSE: NUE1)("NUE" or the "Company") is issuing this news release to clarify its news release dated August 10, 2026 in respect of the engagement of Cashu Technologies Pty Ltd ("Cashu") for investor awareness services.

The 560,720 units disclosed in that news release as issuable to Cashu in satisfaction of its fee were issued to Cashu under the non-brokered private placement announced June 23, 2026. That issuance has been cancelled and the 560,720 common shares and 280,360 common share purchase warrants have been returned to the treasury. Cashu holds no securities of the Company.

The investor engagement services agreement with Cashu has been terminated. No consideration, in cash or in securities of the Company, has been paid to Cashu under that agreement.

About NUE Power Corp.

NUE Power Corp. (CSE: NUE) (OTC Pink: NUEPF) (FSE: NUE1) is an energy infrastructure development company focused on the origination, development, and advancement of integrated power and energy-park opportunities. Operating a develop-to-divest model, the Company emphasizes strategic site positioning, grid access, and disciplined stage-gated development across markets serving compute-intensive and large-load industrial demand.

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.

Forward-Looking Information

This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable Canadian securities legislation. 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.

In particular, this news release contains forward-looking information including statements regarding: the cancellation of the unit issuance described above and the return of the underlying common shares and common share purchase warrants to treasury; the termination of the investor engagement services agreement with Cashu; and the Company's statement that no consideration will be paid to Cashu under that agreement.

Such forward-looking information is based on a number of material assumptions, including: that the cancellation and the return of securities to treasury are given effect and recorded as described; that the termination of the agreement is effective as described; and that no amount becomes payable by the Company in respect of that agreement.

Risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking information include, among others: the cancellation or the return of securities to treasury may not be given effect or recorded as described; a claim may be asserted against the Company in respect of the terminated agreement; and other risks customary to early-stage development companies. As disclosed in its audited consolidated financial statements for the year ended December 31, 2025, the Company does not have sufficient capital resources to meet its anticipated operating requirements for the next twelve months, and additional financing will be required.

Although the Company believes the expectations reflected in the forward-looking information are reasonable, undue reliance should not be placed on it, as the Company can give no assurance that such expectations will prove to be correct. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311915

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