Canadian Uranium Completes Acquisition Of Rook 2

• Canadian Uranium Corp. completed the amalgamation and acquisition of Rook 2 Uranium Corp. on June 8, 2026.
• The transaction was structured as a 1:1 share exchange, issuing 9,663,156 new Company Shares at a deemed price of $0.75 per share, totaling ~$7.25M in consideration.
• Acquired assets include a sole option to secure a 100% interest in a ~18,941-hectare early-stage uranium property in Saskatchewan's Athabasca Basin, plus a ~13.8% stake in a Nevada-based exploration company.
• Option exercise requires $4,000,000 in cash payments over three years ($500k by Oct 2026, $1.2M by Oct 2027, $2.0M by Oct 2028) and exploration expenditure milestones totaling $4,000,000 through Nov 2028.
• A NI 43-101 Technical Report is required to lift resale restrictions on the issued shares.
• This follows a rapid acquisition pipeline, including the March 2026 purchase of Impact Uranium Group (King South property) and a December 2025 $1M private placement.

• Strategic footprint: The acquisition materially expands the company's land package in the world-class Athabasca Basin, aligning with management's stated strategy of consolidating high-potential early-stage uranium assets.
• Dilution impact: The issuance of ~9.66M shares increases the share count by approximately 57%, significantly diluting existing shareholders. This follows the issuance of ~8.25M shares in March and ~4M shares in December 2025.
• Cash flow burden: The transaction adds substantial future cash commitments ($4M in option payments + $4M in exploration spend). Combined with the existing working capital deficiency, this increases the near-term cash burn rate.
• Market pricing: The stock has already rallied from $0.22 in late 2025 to a high of $1.37 in March 2026, pricing in the M&A pipeline and uranium sector momentum. The completion of Rook 2 is a procedural follow-up rather than a new catalyst.

• Pre-revenue junior uranium explorer focused on early-stage properties in Canada's prolific Athabasca Basin.
• Core assets include the King South property (acquired via Impact Uranium), Castle South/Cable Lake property, and the newly acquired Rook 2 property.
• Strategy centers on acquiring high-potential land packages, advancing them through geophysical surveys and drilling, and seeking joint ventures or partnerships to fund development.
• Management transitioned in March 2026, with CFO Geoff Balderson appointed as interim CEO following the resignation of Pam Sangster.
• Engaged Independent Trading Group for market-making services to support liquidity on the CSE.