Aero Energy and Kraken Energy Combine to Create a Premier North American Uranium Developer

Vancouver, B.C. – April 2, 2025 – Aero Energy Limited (“Aero”) (TSXV: AERO, OTC Pink: AAUGF, FSE: UU3) and Kraken Energy Corp. (“Kraken”) (CSE: UUSA, OTCQB: UUSAF, FSE: F2C) are pleased to announce that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) dated April 1, 2025, whereby Aero will acquire all of the issued and outstanding shares of Kraken (the “Kraken Shares”) pursuant to a plan of arrangement (the “Transaction”). The Transaction is valued at approximately $0.02754 per Kraken Share (the “Purchase Price”) or approximately $1.64 million. The Purchase Price represents a premium of 20% to the 15-day volume-weighted average trading price of the Kraken Shares on the Canadian Securities Exchange (the “CSE”). Transaction Highlights and Benefits to Shareholders: Galen McNamara, CEO and Director of Aero, stated: “We’re proud to merge with Kraken and create a leading uranium explorer that delivers substantial value to shareholders of both companies. By uniting Aero’s Athabasca Basin strengths with Kraken’s U.S. assets, we’re positioned to unlock permits, scale effectively, and capture the uranium market’s momentum with certainty.” Brian Goss, CEO and Director of Kraken, stated: “We welcome this merger with Aero as a decisive step to deliver strong returns for shareholders […]