Mustang Energy and Allied Strategic Resource Announce Closing of Plan of Arrangement and CSE Conditional Approval for the Allied Shares

Vancouver, British Columbia--(Newsfile Corp. - March 27, 2026) - Mustang Energy Corp. (CSE: MEC) (OTC: MECPF) (FSE: 92T0) ("Mustang" or the "Company") and Allied Strategic Resource Corp. ("Allied") announces that, further to Mustang's News Releases of October 9, 2025, November 27, 2025 and March 20, 2026, the previously announced plan of arrangement (the "Arrangement") involving the spin-off of Allied from Mustang, closed today. In addition, Allied has received conditional approval from the Canadian Securities Exchange (the "CSE") for the listing of its common shares (the "Allied Shares") on the CSE, subject to satisfying customary requirements of the CSE, including receipt of all required documentation.