Cygnet Energy Ltd. and Kiwetinohk Energy Corp. Announce Completion of Arrangement

CALGARY, Alberta, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Cygnet Energy Ltd. ("Cygnet") and Kiwetinohk Energy Corp. ("Kiwetinohk") (TSX: KEC) are pleased to announce the completion of the acquisition of Kiwetinohk by Cygnet. As previously announced, all outstanding common shares of Kiwetinohk (the "KEC Shares") were acquired by Cygnet pursuant to a plan of arrangement under Section 192 of the Canada Business Corporations Act (the "Arrangement") for $24.75 per KEC Share. As part of the Arrangement, certain investment funds advised by ARC Financial Corp. (collectively, the "Rollover Shareholders") sold a portion of their KEC Shares in exchange for Cygnet common shares, all in accordance with the terms of a rollover agreement entered into with the Rollover Shareholders in connection with the Arrangement.