Nexera Reports AGM Results and Provides Update on CTO and Strategic Transition to Tire Recycling

Rhea-AI Summary

Nexera Energy (OTC: EMBYF) reported that all resolutions at its March 10, 2026 AGM were approved and said it is finalizing submissions to the Alberta Securities Commission to lift an existing cease trade order. Nexera completed an engineering pre-FEED study with Equinox Engineering for a proposed Calgary tire pyrolysis facility and said the study validates technical and economic feasibility for its strategic transition to tire recycling and industrial manufacturing. The company expects the CTO to be revoked in the near term and trading to resume once filings are accepted.

Positive

• AGM resolutions approved by shareholders on March 10, 2026
• Pre-FEED study completed with Equinox validating technical and economic feasibility
• Strategic pivot to tire pyrolysis and industrial manufacturing with defined project scope

Negative

• Cease trade order remains in effect due to delayed audited financial statements
• Trading suspended until ASC revokes CTO; timing described only as near term
• Financial disclosures delayed, which can hinder capital access and investor confidence

Calgary, Alberta and San Antonio, Texas--(Newsfile Corp. - March 11, 2026) - Nexera Energy Inc. (TSXV: NGY) (OTC Pink: EMBYF) ("Nexera" or the "Company") is pleased to report that all resolutions presented at its Annual General Meeting ("AGM") on March 10, 2026, were approved by shareholders. The Company also confirms it is in the final stages of completing the submissions required by the Alberta Securities Commission ("ASC") to lift the existing cease trade order ("CTO"), and is pleased to announce the successful completion of an engineering pre-FEED study with Equinox Engineering Canada Ltd. for its proposed tire pyrolysis facility in Calgary, Alberta. The study validates the technical and economic feasibility of Nexera's strategic transition from oil and gas operations to industrial manufacturing and waste tire recycling.

Nexera remains subject to the CTO issued by the ASC due to delays in filing its audited annual financial statements. The Company expects the CTO to be revoked in the near term, at which time trading in the Company's securities is anticipated to resume.

As previously announced on January 20, 2026, Nexera is repositioning its business to focus on industrial manufacturing with an emphasis on recycling end-of-life tires using advanced pyrolysis technology. Pyrolysis is a proven thermal conversion process that transforms scrap tires into valuable component materials, providing both environmentally responsible and economically attractive solutions for tire recycling.

The recently completed pre-FEED study evaluates the economic and logistical considerations of the proposed Calgary facility. The study includes a detailed project description, block flow diagrams, preliminary equipment specifications, and an estimated total installed cost.

"The scope, cost estimates, and development schedule outlined in the Equinox pre-FEED study confirm the technical and economic viability of this project," said Michael Rice, Chief Financial Officer of Nexera Energy Inc. "Based on these findings, the Company will continue advancing its strategic transition toward waste tire recycling and resource recovery, positioning Nexera as a leader in sustainable industrial manufacturing."

Further updates will be provided as the Company progresses its tire recycling initiative.

For further information, please contact:
Nexera Energy Inc. CFO, Michael L. Rice by telephone at (403) 262-6000
Email: info@nexeraenergy.com
www.nexeraenergy.com

Forward-Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein relating to the timing of the filing of financial statements constitutes forward-looking statements. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288060

FAQ

What did Nexera (EMBYF) announce at its March 10, 2026 AGM?

All shareholder resolutions presented at the March 10, 2026 AGM were approved. According to Nexera, the company also confirmed it is finalizing ASC submissions to lift a cease trade order and reported completion of a pre-FEED study for a Calgary tire pyrolysis facility.

What does the completed Equinox pre-FEED study mean for Nexera (EMBYF)?

The pre-FEED confirms technical and economic feasibility for the proposed tire pyrolysis project. According to Nexera, the study includes project description, block flow diagrams, equipment specs, and an estimated total installed cost to guide next development steps.

Why is Nexera (EMBYF) subject to a cease trade order and when will trading resume?

Nexera remains subject to a CTO because audited annual financial statements were delayed. According to Nexera, submissions to the Alberta Securities Commission are in final stages and the company expects the CTO to be revoked in the near term, after which trading should resume.

How is Nexera (EMBYF) changing its business strategy in 2026?

Nexera is repositioning from oil and gas toward industrial manufacturing focused on tire recycling using pyrolysis. According to Nexera, the shift emphasizes converting scrap tires into component materials as an environmentally responsible and economically attractive business line.

What operational details did Nexera (EMBYF) provide about the Calgary facility?

The pre-FEED outlines the project scope, block flow diagrams, preliminary equipment specifications, and an estimated total installed cost. According to Nexera, these elements form the basis for development scheduling and further engineering work toward construction decisions.