First Tellurium increases financing to $2.38-million

Mr. Tyrone Docherty reports FIRST TELLURIUM ANNOUNCES INCREASE IN PRIVATE PLACEMENT FINANCING AND 1ST TRANCHE CLOSING First Tellurium Corp. has now completed a first-tranche closing of its non-brokered private placement previously announced on Feb. 23, 2026. Under the first tranche, the company has issued 4,992,545 units for gross proceeds of $848,732.65. The company paid finders' fees of $1,700 in connection with the first tranche. All securities issued under the first tranche are subject to a hold period expiring July 18, 2026, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. As the company has received interest above the previously announced $1.7-million maximum, the company is increasing the offering such that it now proposes to sell up to 14 million units (including the units issued in the first tranche) at a price of 17 cents per unit to raise gross proceeds of up to $2.38-million. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at a price of 24 cents for a period of two years from its date of issue. The units are being offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation. The proceeds received from the sale of the units will be used for general working capital. The company may pay finders' fees consisting of cash, shares and/or warrants to eligible finders as permitted under applicable securities laws and CSE policies. All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance in accordance with the policies of the CSE and applicable securities laws. It is anticipated that some insiders of the company will participate in the offering. The participation of any insiders may be considered a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Such insider participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101 as the company is not listed on any of the exchanges or markets outlined in Subsection 5.5(b) of MI 61-101 and the fair market value of the securities to be distributed to the insiders is not expected to exceed 25 per cent of the company's market capitalization. About First Tellurium Corp. First Tellurium's unique business model is to generate revenue and value through mineral discovery, project development, project generation and development of tellurium-based technologies. First Tellurium is listed on the CSE under the symbol FTEL and on the OTC (over-the-counter) market under the symbol FSTTF. We seek Safe Harbor.