Altima Energy Provides Corporate Update; Final Acceptance of Financing for Gross Proceeds of $5,500,000 and Bi-Weekly MCTO Status Update

Corporate Update - Altima Energy Inc. has provided a corporate update regarding the final acceptance from the TSXV to close its private placement for gross proceeds of $5,500,000 [2][3] - The company has issued a total of 20,000,000 Units at a price of $0.275 per Unit, each consisting of one common share and one share purchase warrant [3] Financing Details - The financing includes warrants that entitle the holder to purchase one additional common share at a price of $0.40 per share, exercisable for a period of two years [3] - A four-month hold period will be placed on all securities issued under this financing [3] - Finders' fees related to the financing have been paid in accordance with TSXV policies, and no insiders subscribed in the financing [4] Loan Settlement - A portion of the financing proceeds, amounting to $2,200,000 plus associated fees, has been allocated to settle an outstanding secured loan to an arm's length lender [5] MCTO Update - The company applied for a Management Cease Trade Order (MCTO) due to a delay in filing its audited annual financial statements for the year ended February 28, 2025 [6] - The MCTO restricts the CEO and CFO from trading in the company's securities until the required documents are filed and the MCTO is revoked [6] - The company expects to file the necessary documents by August 29, 2025, although there may be delays due to recent developments [6][7] Company Overview - Altima Energy is an oil and gas exploration and production company based in Vancouver, focusing on unlocking hydrocarbon assets across North America [9] - The company aims for efficient resource development, combining technology and industry expertise to drive operational excellence and sustainable growth [9]