DIGITAL ASSET ACQUISITION CORP. TO COMBINE WITH TITAN STRATEGICS, EXPLORATION LICENSE HOLDER OVER RANSTAD, SWEDEN’S LARGEST PREVIOUSLY PRODUCING URANIUM MINE; COMBINED COMPANY TO BE NAMED “RENAISSANCE NUCLEAR, INC.” AND PUBLICLY LISTED

Titan holders are expected to own approximately 70% of the combined company, excluding warrants, reserved compensation shares and redeeming DAAQ investors.

Rhea-AI Summary

Digital Asset Acquisition Corp. (Nasdaq: DAAQ) signed a merger agreement with Titan Strategics Holdings at a pro-forma enterprise value of $318 million. The valuation excludes additional earnout shares. Titan owns the exploration license holder over Sweden’s former Ranstad uranium mine and approximately 207 km² of the Billingen district.

The transaction is expected to provide approximately $65 million in gross proceeds, assuming no DAAQ shareholder redemptions, including a minimum $15 million common-equity PIPE investment. Titan holders will exchange their equity for 25,000,000 combined-company shares. Completion is expected in early 2027, subject to shareholder and regulatory approvals. The combined company is expected to become Renaissance Nuclear and list on Nasdaq or the NYSE, subject to initial listing requirements. Titan plans to recover historical data, confirm it through modern drilling and work toward an initial mineral resource.

7 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 5 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointSigned Titan merger agreement gives DAAQ a proposed combination at $318 million pro-forma enterprise value, excluding earnout shares.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Approximately $65 million gross proceeds are expected, assuming no DAAQ public-shareholder redemptions. 36% of market cap
• Minor point$15 million common-equity PIPE commitment has been signed by an accredited investor.
• Minor pointBillingen exploration licenses cover approximately 207 km², including the former Ranstad uranium mine.
• Minor pointHistorical 1974–75 assays average approximately 350 ppm U3O8 over about 7 meters across 11 license-area holes.

2 minor points

• Minor point. Forward-looking: it has not happened yet and may not happen.Titan’s exploration plan targets historical-data recovery, modern confirmation drilling and an initial mineral resource.
• Minor pointBoth boards unanimously approved the proposed business combination.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.25,000,000 shares for Titan holders will dilute DAAQ holders; Titan ownership is expected at approximately 70%, subject to stated exclusions.
• Minor pointShareholder and regulatory approvals remain pending for the combination expected to close in early 2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.Initial listing requirements must be satisfied for the proposed Nasdaq or NYSE listing.
• Minor point. Forward-looking: it has not happened yet and may not happen.Billingen permits expire January 16, 2028; extensions require Swedish Mining Inspectorate approval.
• Minor pointHistorical drilling results have not yet been verified by a qualified person under SEC mineral-disclosure rules.

News Explained

If completed, Titan holders are expected to own seventy percent; only the minimum $15 million PIPE is identified as signed, while total proceeds remain conditional.

DAAQ has entered a merger agreement with Titan, but it remains subject to approvals and other closing conditions; if completed, Titan holders would receive 25 million Pubco shares for all their equity and are expected to own about 70%, excluding warrants, equity-plan reserves and DAAQ shareholder redemptions.

The release identifies a signed commitment for the minimum $15 million PIPE, while total gross proceeds of about $65 million are expected and include trust cash assuming no redemptions; the broader proceeds figure is not itself described as fully committed.

A PIPE is a private sale of securities to selected investors outside a public offering.

Titan reports that 11 historical holes drilled inside its license area in 1974–75 averaged about 350 ppm U3O8 over about 7 meters, but those results have not been verified under SEC SK-1300 rules; an independent Qualified Person is preparing a Technical Report Summary.

Key Figures

Pro forma enterprise value: $318 million Gross transaction proceeds: Approximately $65 million Minimum PIPE: $15 million +5 more

Pro forma enterprise value

$318 million

Excludes additional earnout shares

Gross transaction proceeds

Approximately $65 million

Assumes no DAAQ public-shareholder redemptions

Minimum PIPE

$15 million

Common equity investment from institutional investors

Shares issued to Titan equity holders

25,000,000 shares

In exchange for 100% of Titan's existing equity

Expected Pubco ownership

Approximately 70%

Titan equity holders, excluding specified warrants, reserved shares, and redeeming DAAQ investors

Expected transaction completion

Early 2027

Subject to customary closing conditions, including shareholder and regulatory approvals

Licensed project area

Approximately 207 km²

Billingen Uranium Project licenses in Sweden

Historical assay average

Approximately 350 ppm U3O8 over about 7 meters

Historical results; not yet verified by a Qualified Person under SEC rules

Key Terms

pipe, spac, u3o8

3 terms

pipe financial

"common equity in the form of a PIPE (Private Investment in Public Equity)"

A PIPE (private investment in public equity) is a deal in which institutional or accredited investors buy shares or convertible securities directly from a publicly traded company, usually at a discount to the market price. Companies use PIPEs to raise money faster than through a traditional public offering; for existing shareholders they matter because the newly issued shares add to the share count and can dilute ownership.

spac financial

"a special purpose acquisition company"

A special purpose acquisition company (SPAC) is a company formed specifically to raise money through an initial public offering (IPO) with the goal of buying or merging with an existing private company. For investors, a SPAC offers a way to invest in a potential future business without initially knowing which company it will acquire, making it a way to access new investment opportunities that might otherwise be difficult to invest in directly.

View in glossary

u3o8 technical

"average approximately 350 ppm U3O8"

U3O8 is the chemical name for a stable form of uranium oxide commonly called “yellowcake,” the concentrated powder produced after uranium ore is processed. Investors track U3O8 because it represents the raw material that is turned into nuclear fuel; its supply, demand and price act like a commodity indicator that can move the value of mining companies, utilities and firms tied to the nuclear fuel chain. Think of it as the crude oil equivalent for nuclear power — a basic feedstock whose availability and cost affect an entire industry.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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●	Titan holds the exploration licenses over Ranstad, Sweden’s largest previously producing uranium mine, and approximately 207 km² of the surrounding Billingen uranium district, in a NATO and EU member state.
●	Originally built by AB Atomenergi, the state-controlled company behind Sweden’s first nuclear reactor, and later co-managed by LKAB, today one of Europe’s largest mining companies.
●	242 historical holes drilled by the Swedish state, more than 200 inside Titan’s license area. Historical assays averaged approximately 350 ppm U3O8 over about 7 meters, in a flat, layer-cake horizon that in places comes within approximately 9 meters of surface.
●	The EU imports virtually all of its uranium, around one pound in six from Russia. Sweden lifted its uranium ban on January 1, 2026, reopening alum shales that host an estimated one million tonnes of uranium (IAEA/OECD-NEA “Red Book”).
●	Partnering with Digital Asset Acquisition Corp., whose team includes 40-year uranium and nuclear executive Jim Cornell, who recently advised on IQM Quantum Computers Oyj (Nasdaq: IQMX) public listing.
●	Pro-forma combined company enterprise value of $318 million.
●	Received signed commitment of $15 million of common equity in the form of a PIPE (Private Investment in Public Equity) investment from an accredited investor.

PRINCETON, NJ, Oct. 08, 2026 (GLOBE NEWSWIRE) -- Digital Asset Acquisition Corp. (Nasdaq: DAAQ) (“DAAQ”), a special purpose acquisition company, today announced that it has entered into a merger agreement (the “Merger Agreement” and the transactions contemplated by that agreement, the “Business Combination”) with Titan Strategics Holdings Ltd, a Cayman Islands exempted company (“Titan”), and the direct owner of one hundred percent (100%) of the equity interests in Titan Strategics AS, the exploration license holder over the former Ranstad uranium mine and the surrounding Billingen uranium district in Sweden. Upon closing, the combined company (the “Pubco”) is expected to operate under the new name of Renaissance Nuclear, Inc. The proposed Business Combination remains subject to the receipt of all necessary shareholder and regulatory approvals, and other customary closing conditions.

Titan Strategics AS holds the exploration permits for the Billingen Uranium Project in south-central Sweden, a district-scale land package that takes in the former Ranstad mine. Ranstad was the cornerstone of Sweden’s plan for nuclear fuel self-sufficiency and produced uranium from 1965 to 1969, until low prices at the time forced its closure. In the 1970s, LKAB became a co-manager and drew up plans to restart and expand it. Now, with the ban lifted, AI driving power demand and Europe racing to replace Russian nuclear fuel, Titan intends to bring this historic district back to life with modern exploration. The project sits about 5 kilometers from Skövde and 150 kilometers from Gothenburg, Scandinavia’s largest container port, with highway, rail and grid power already in place.

The proposed Business Combination will bring together proven leadership in mine development, nuclear energy and capital markets.

The combined company is expected to be led by Executive Chairman Adam Clode, a mining executive with more than 25 years’ experience taking projects from resource definition to production. Mr. Clode started his career developing a gold asset for Newmont Mining Corporation in Ghana; served as Site Manager at Equinox Minerals’ Lumwana copper project in Zambia (Equinox was later acquired by Barrick for approximately $7.8 billion); and, as Manager of Projects, delivered African Minerals’ $3 billion Tonkolili iron ore development in Sierra Leone through to first ore shipment, supporting the team that secured more than $2 billion in strategic funding. DAAQ Co-Chairmen Pete Ort and Jeff Tuder bring over 30 years of investing, advising and experience with special purpose acquisition companies, or SPACs. Their most recent SPAC, Real Asset Acquisition Corp. (Nasdaq: RAAQ), closed its combination with IQM Quantum Computers Oyj (Nasdaq: IQMX) in July 2026, creating the first European quantum computing company listed on a major U.S. exchange. DAAQ’s advisors add decades of uranium and nuclear operating experience.

Adam Clode, Executive Chairman of the post-closing combined business, commented: “Ranstad is where the Swedish state mined uranium to secure its energy independence. Today, the EU imports virtually every pound of the uranium its reactors need. We hold the licenses over Sweden’s largest formerly producing uranium mine and the district around it, backed by decades of state-funded drilling. Our plan is simple: recover the historical data, confirm it with modern drilling and build toward a maiden resource. DAAQ gives us the capital markets access to move fast.”

Peter Ort, Co-Chairman & Principal Executive Officer of DAAQ, added: “Titan has something genuinely rare: exploration rights over a formerly producing uranium mine inside the EU and NATO, in a country that has just reopened its doors to uranium. With the EU importing almost all of its uranium, we believe assets like Ranstad have strategic value the market has yet to recognize. We believe Titan is well-positioned to deliver meaningful value for shareholders.”

Europe’s Uranium Security Gap

EU reactors run almost entirely on imported uranium. In 2025, EU utilities received about 14,700 tonnes of natural uranium, all from outside the EU, around 16% of it from Russia (Euratom Supply Agency). Brussels’ REPowerEU roadmap aims to phase out remaining Russian energy imports, including nuclear. Demand is rising too: nuclear already supplies about 30% of Sweden’s electricity, the government plans the equivalent of up to ten new large reactors by 2045, and Vattenfall’s Videberg Kraft project has selected Rolls-Royce SMRs for Ringhals. Worldwide, AI and data centers are driving demand for always-on, carbon-free power, while industry analysts point to a structural gap between mine supply and reactor needs.

Billingen: A District-Scale Opportunity

Two exploration licenses, Billingen nr 100 and Billingen nr 200, cover approximately 207 km² (20,713 hectares). They were granted by the Swedish Mining Inspectorate on January 16, 2025, run to January 16, 2028 and can be extended under the Swedish Minerals Act, subject to approval by the Swedish Mining Inspectorate. They take in the Ranstad mine site and the Billingen plateau, where the uranium sits in a flat layer of alum shale that can be traced for kilometers.

According to Titan’s compilation and interpretation of historical Swedish government drilling records, between 1957 and 1975, the Swedish state drilled 242 holes across the Billingen area, more than 200 of them inside Titan’s license area. Assay records for the 11 holes drilled inside the license area in 1974–75 average approximately 350 ppm U₃O₈ (about 0.035%) over about 7 meters, with the best hole grading 564 ppm U₃O₈. On the eastern flank, drilling hit the uranium layer as shallow as about 9 meters. These historical results have not yet been verified by a Qualified Person under the Securities and Exchange Commission’s (the “SEC”) rules under Regulation S-K 1300 (“SK-1300”).

The same layer carries vanadium, molybdenum, nickel and zinc, and modern processing tested on comparable Swedish alum shale has shown the potential to recover vanadium alongside uranium. An independent “Qualified Person” (as defined in SK-1300) is preparing an SK-1300 Technical Report Summary.

Proposed Business Combination Overview

The proposed Business Combination implies a pro-forma combined company enterprise value of $318 million, excluding additional earnout shares. The transaction is expected to deliver approximately $65 million in gross transaction proceeds, consisting of cash held in DAAQ’s trust account (assuming no redemptions by DAAQ’s public shareholders) and including a minimum of $15 million of common equity in the form of a PIPE (Private Investment in Public Equity) investment from institutional investors. The combined company expects to use the net proceeds for general corporate purposes, exploration and advancement of the Billingen Uranium Project, and transaction expenses. Under the terms of the Merger Agreement, Titan’s existing equity holders will convert 100% of their equity into 25,000,000 shares of Pubco and are expected to own approximately 70% of Pubco upon consummation of the proposed Business Combination, excluding warrants, shares reserved under equity compensation plans and any DAAQ investors who elect to redeem their shares. The proposed Business Combination is expected to be completed in early 2027, subject to customary closing conditions, including shareholder and regulatory approvals. The combined public company is expected to be named “Renaissance Nuclear, Inc.” and to list its common stock and warrants to purchase common stock on either Nasdaq or the NYSE, subject to satisfaction of initial listing requirements. The proposed Business Combination has been unanimously approved by the board of directors of Titan and the board of directors of DAAQ. Additional information about the proposed Business Combination, including a copy of the Merger Agreement, will be provided in a Current Report on Form 8-K to be filed by DAAQ with the SEC and available at www.sec.gov.

Advisors

Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, is serving as the exclusive financial advisor and lead capital markets advisor to DAAQ. Loeb & Loeb LLP and Ashurst Perkins Coie are serving as legal counsel to DAAQ, and Olshan Frome Wolosky LLP is serving as legal counsel to Titan.

About Titan Strategics AS

Titan Strategics AS holds the exploration licenses over Ranstad, Sweden’s largest formerly producing uranium mine, and approximately 207 km² of the surrounding Billingen uranium district. Titan Strategics AS aims to define a modern S-K 1300 Mineral Resource at Billingen and build a European nuclear fuel platform that reduces Europe’s dependence on imported uranium.

About Digital Asset Acquisition Corp.

Digital Asset Acquisition Corp. (Nasdaq: DAAQ) is a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination. DAAQ is seeking to pursue an initial business combination target that capitalizes on the expertise and ability of DAAQ’s management team and advisors across a range of industries.

Important Information About the Business Combination and Where to Find It

The proposed Business Combination will be submitted to shareholders of DAAQ for their consideration. DAAQ and Titan intend to jointly file a registration statement on Form S-4 (the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”), which will include a preliminary proxy statement/prospectus (a “Proxy Statement/Prospectus”). A definitive Proxy Statement/Prospectus will be mailed to DAAQ’s shareholders as of a record date to be established for voting on the Business Combination and other proposals. DAAQ may also file other relevant documents regarding the Business Combination with the SEC. DAAQ’s shareholders and other interested persons are advised to read, once available, the preliminary Proxy Statement/Prospectus and any amendments thereto and, once available, the definitive Proxy Statement/Prospectus, in connection with DAAQ’s solicitation of proxies for its extraordinary meeting of shareholders to be held to approve, among other things, the Business Combination, because these documents will contain important information about DAAQ, Titan and the Business Combination. Shareholders may also obtain a copy of the preliminary or definitive Proxy Statement/Prospectus, once available, as well as other documents filed with the SEC regarding the Business Combination and other documents filed with the SEC by DAAQ, without charge, at the SEC’s website located at www.sec.gov or by directing a request to: DAAQ’s principal executive offices at 174 Nassau Street, Suite 2100, Princeton, New Jersey 08542.

Participants in the Solicitation

DAAQ and Titan and certain of their respective directors, executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the Business Combination under the rules of the SEC. Information about (i) the directors and executive officers of DAAQ is set forth in the DAAQ Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on March 3, 2026, and (ii) a description of the interests of the directors and executive officers of DAAQ and Titan, and the Business Combination, will be contained in the Registration Statement and the Proxy Statement/Prospectus when available, which documents can be obtained free of charge from the sources indicated above.

Forward-Looking Statements

The disclosure herein includes certain statements that are not historical facts but are forward-looking statements. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, (1) statements regarding estimates and forecasts or other financial, performance and operational metrics and projections of market opportunity; (2) references with respect to the anticipated benefits of the proposed Business Combination and the projected future financial performance of Titan following the proposed Business Combination; (3) changes in the market for Titan’s expansion plans and opportunities; (4) the sources and uses of cash in connection with the proposed Business Combination; (5) the anticipated capitalization and enterprise value of DAAQ following the consummation of the proposed Business Combination; (6) current and future potential commercial and customer relationships; (7) the ability to operate efficiently at scale; (8) anticipated investments in capital resources and research and development, and the effect of these investments; (9) the amount of redemption requests made by DAAQ’s public shareholders; (10) the ability of DAAQ to issue equity or equity-linked securities in the future; (11) the failure to achieve the minimum cash at closing requirements; (12) the inability to obtain or maintain the listing of the combined company’s common stock on Nasdaq following the proposed Business Combination, including but not limited to redemptions exceeding anticipated levels or the failure to meet Nasdaq’s initial listing standards in connection with the consummation of the proposed Business Combination; and (13) expectations related to the terms and timing of the proposed Business Combination. These statements are based on various assumptions, whether or not identified in this release, and on the current expectations of DAAQ’s and Titan’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of DAAQ and Titan. These forward-looking statements are subject to a number of risks and uncertainties, as set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in DAAQ’s Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on March 3, 2026, and/or will be contained in the Registration Statement and the Proxy Statement/Prospectus when available, and in those other documents that DAAQ and Titan have filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. The risks and uncertainties above are not exhaustive, and there may be additional risks that neither DAAQ nor Titan presently know or that DAAQ and Titan currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward looking statements reflect DAAQ’s and Titan’s expectations, plans or forecasts of future events and views as of the date of this press release. DAAQ and Titan anticipate that subsequent events and developments will cause DAAQ and Titan’s assessments to change. However, while DAAQ and Titan may elect to update these forward-looking statements at some point in the future, DAAQ and Titan specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing DAAQ’s and Titan’s assessments as of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

No Offer or Solicitation

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase, any securities in any jurisdiction, or the solicitation of any vote, consent or approval in any jurisdiction in connection with the Business Combination, nor shall there be any sale, issuance or transfer of any securities in any jurisdiction where, or to any person to whom, such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. This press release does not constitute either advice or a recommendation regarding any securities. No offering of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.

Contacts:

Peter Ort
Principal Executive Officer and Co-Chairman
Digital Asset Acquisition Corp.
pete@curaleaassociates.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the financial terms of DAAQ’s proposed merger with Titan?

The proposed merger implies a $318 million pro-forma enterprise value, excluding additional earnout shares. Gross transaction proceeds are expected to be approximately $65 million, assuming no DAAQ public-shareholder redemptions and including a minimum $15 million common-equity PIPE investment. Titan holders will receive 25,000,000 combined-company shares.

When is the DAAQ–Titan merger expected to close, and what will the company be called?

Completion is expected in early 2027, subject to shareholder and regulatory approvals and other customary closing conditions. The combined company is expected to be named Renaissance Nuclear and list its common stock and warrants on Nasdaq or the NYSE, subject to initial listing requirements.

How long do Titan’s Billingen uranium exploration permits last?

The Billingen nr 100 and Billingen nr 200 permits run to January 16, 2028. Granted on January 16, 2025, they cover approximately 207 km² and can be extended under the Swedish Minerals Act, subject to approval by the Swedish Mining Inspectorate.

Have Titan’s historical Billingen uranium drilling results been independently verified?

The historical results have not yet been verified by a qualified person under the SEC’s S-K 1300 mineral-disclosure rules. An independent qualified person is preparing a Technical Report Summary. Titan’s compilation identifies 242 historical holes across Billingen, more than 200 within its license area.