Monumental closes $3.05-million private placement

• Monumental Energy Corp. closed a non-brokered private placement of 33,929,583 units for gross proceeds of $3,053,662 at $0.09 per unit.
• Each unit includes one common share and one transferable warrant exercisable at $0.15 for two years.
• The company is seeking exchange approval to reprice 4,371,923 existing warrants from $0.25 to $0.175 per share.
• Net proceeds are earmarked for oil and gas workover projects with New Zealand Energy Corp. (NZEC) and L&M Energy, potential asset acquisitions, drilling new wells, and working capital.
• This follows a series of positive production updates in March 2026 where Ngaere-2 and Waihapa H1 wells exceeded expectations with stable flow rates between 300 and 568 barrels per day.

• The financing is material for operational continuity but expected given the company's history of capital raises to fund workovers.
• Proceeds validate the production strategy announced in March, allowing Monumental to move from appraisal to development phases on multiple wells.
• Warrant repricing indicates previous pricing was too aggressive relative to market price; while it reduces immediate dilution risk if exercised, it signals past stock weakness and potential future equity issuance pressure.
• The $3M raise is larger than the November 2025 financing ($810k), suggesting increased capital intensity for drilling rather than just workovers.
• No strategic investor entry (e.g., Sprott, Lundin) was announced; this remains a standard junior oil and gas financing round.

• Monumental Energy Corp. operates primarily in New Zealand's Taranaki Basin with oil and gas assets, alongside lithium royalty interests in Chile (Laguna Project).
• Flagship Project: Copper Moki Oil & Gas Wells (CM1 and CM2) and the Ngaere/Waihapa workover program.
• Production Status: Commercial production resumed at Copper Moki wells (~100-175 bbl/d target) with recent Ngaere and Waihapa wells showing stable flow rates of 300-568 bbl/d unstimulated.
• Partnership Structure: Monumental funds NZEC's 50% share of workovers in exchange for a 25% royalty on production after capital recovery (75% royalty during payback).
• Management Change: CEO Michelle DeCecco resigned March 9, 2026; Max Sali (VP Corporate Development & Director) appointed as new CEO.