Future Fuels Announces Closing of Brokered Offering for Gross Proceeds of C$6.6 Million

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VANCOUVER, BC / ACCESS Newswire / October 22, 2026 / Future Fuels Inc. (TSXV:FTUR)(OTCQX:FTURF)(FWB:S0J) ("Future Fuels" or the "Company") is pleased to announce the closing of its previously announced "best efforts" private placement (the "Offering") for aggregate gross proceeds of C$6,569,426 from the sale of (i) 6,342,750 units of the Company (each, a "Unit") at a price of C$0.32 per Unit (the "Unit Price") and (ii) 11,946,700 flow-through units of the Company (each, a "FT Unit") at a price of C$0.38 per FT Unit. Red Cloud Securities Inc. ("Red Cloud") acted as sole agent and bookrunner in connection with the Offering.

Each Unit consists of one common share of the Company and one common share purchase warrant (each, a "Unit Warrant"). Each FT Unit consists of one common share of the Company issued as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each, a "FT Share") and one-half of one common share purchase warrant (each whole warrant, a "FT Unit Warrant"). Each Unit Warrant and FT Unit Warrant entitles the holder to purchase one common share of the Company at a price of C$0.45 at any time on or before October 22, 2029. The Unit Warrants shall not be exercisable until the date which is 61 days from the date of their issuance, being December 22, 2026.

The Company intends to use the net proceeds from the sale of the Units for the exploration of the Company's Hornby Basin Project as well as for working capital and general corporate purposes, as is more fully described in the Offering Document (as herein defined).

The gross proceeds from the sale of the FT Shares will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as both terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's projects on or before December 31, 2027. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Units effective December 31, 2026.

In accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Units were sold to purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). The securities issuable from the sale of the Units to purchasers under the Listed Issuer Financing Exemption are not subject to resale restrictions in accordance with applicable Canadian securities legislation. All securities not issued pursuant to the Listed Issuer Financing Exemption, which includes the FT Shares, the FT Unit Warrants, any common shares issuable upon exercise of FT Unit Warrants, the Broker Warrants, and any Broker Warrant Shares (each as defined herein) issued upon exercise of Broker Warrants, are subject to a hold period in Canada, in accordance with applicable Canadian securities legislation, expiring four months and one day following the issue date, being February 23, 2027.