Loyalist Announces Closing of Shares for Debt Transaction and Termination of Non-Brokered Private Placement

Toronto, Ontario – TheNewswire – October 16, 2026 – Loyalist Exploration Limited (CSE:PNGC) (“Loyalist” or the “Company”) announces that it has terminated its previously announced non-brokered private placement (the “ Offering ”) and that no further tranches or closings of the Offering will be completed. As previously announced in the Company’s press release dated August 31, 2026, the Company closed the first tranche (the “ First Tranche ”) of the Offering, consisting of the sale of 25,000,000 common shares in the capital of the Company (“ Common Shares ”) at a price of $0.04 per Common Share for gross proceeds to the Company of $1,000,000. The First Tranche represents the final closing of the Offering. The Offering was originally announced in the Company’s press release dated August 10, 2026. The Company is also pleased to announce the closing of a shares for debt transaction (the “ Shares for Debt Transaction ”), pursuant to which the Company settled an aggregate of $113,285.00 of outstanding indebtedness owing to certain creditors through the issuance of 2,832,125 Common Shares at a price of $0.04 per Common Share. All securities issued in connection with the Shares for Debt Tra

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