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Mustang Energy Corp. Provides Update on Proposed Spin Out of Ford Lake Property by way of Plan of Arrangement and Announces Share Distribution Record date of March 26, 2026

Vancouver, British Columbia, March 20, 2026, the Company said it will complete its arrangement with Allied Strategic Resource Corp., with the Record Date on March 26, 2026, and effective on March 27, 2026.
Mustang Energy Corp. will refocus on developing Brown Lake, Dutton, Yellowstone, 914W, Spur, Thunderbird and Konigsstuhl, emphasizing Yellowstone under Part 9, Division 5 of the Business Corporations Act .
Under the Arrangement, Mustang will transfer the Ford Lake, Roughrider South and Cigar East properties in exchange for 6,400,000 common shares of Allied at a deemed price of $0.05 per share and create New Mustang Shares through a capital reorganization.
Allied will become an unlisted reporting issuer in British Columbia, Alberta, and Ontario and has received conditional approval to list on the Canadian Securities Exchange.
The company cautioned that forward‑looking statements involve substantial risks and uncertainties, and completion depends on Allied satisfying CSE conditions; last year, the Court issued final orders.

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