Waskahigan Oil & Gas Corp. and Terra Metals Group Execute Extension Agreement to Advance Ongoing Share Purchase Transaction

Executive Summary

• Waskahigan Oil & Gas Corp. (“WOGC”) and the Terra Metals Inc./Terra Metals Limited/Lunda Resources/CARE parties have executed SPA Amending Agreement #3, rescinding a prior termination notice and extending the Share Purchase Agreement (SPA) originally dated May 16 2025.
• The amendment sets a new deadline of December 15 2025 for completion of all remaining deliverables, including final due‑diligence exchanges and CSE listing application filings.
• All parties have confirmed continued payment obligations and reaffirmed commitment to consummate the transaction, keeping the proposed combination on track.

Key Details

• Parties Involved: Waskahigan Oil & Gas Corp.; Terra Metals Inc. (Delaware); Terra Metals Limited (Zambia); Lunda Resources Limited; Central African Renewable Energy Corporation Limited; Mumena Mushinge; Brian Chisala.
• Agreement Title: SPA Amending Agreement #3 (Extension Agreement).
• Original SPA Date: May 16 2025; previously amended on June 16 2025 and July 31 2025.
• Termination Notice Rescinded: October 9 2025 notice of termination was formally withdrawn.
• New Completion Timeline: All remaining SPA deliverables to be completed by December 15 2025 (final due‑diligence exchanges, CSE application filings).
• Obligations: TMI Parties confirmed payment and continuation of all obligations under the SPA; both sides reaffirmed commitment to successful transaction completion.
• Purpose of Extension: Align with regulatory requirements, advance listing process on the Canadian Securities Exchange (CSE), and strengthen long‑term partnership.

Notable Quotes

• “This extension reflects a shared commitment by WOGC and the TMI Parties to advance the transaction in good faith, maintain alignment with regulatory requirements, and strengthen the long‑term partnership between the two groups.” – Gregory J. Leia, President and CEO, Waskahigan Oil & Gas Corp.