Geiger Energy Announces Equity Offerings for Gross Proceeds of up to C$7 Million

Geiger Energy Announces Equity Offerings for Gross Proceeds of up

to C$7 Million

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES

Toronto, ON – April 16, 2026 – Geiger Energy Corporation (“Geiger” or the “Company”) (TSXV:

BEEP; OTCQB: BSENF) is pleased to announce that it has entered into an agreement with Red

Cloud Securities Inc. (“Red Cloud”) and Haywood Securities Inc. (collectively with Red Cloud,

the “Agents”) to act as co-lead agents and joint bookrunners in connection with a “best efforts”

public offering (the “Marketed Public Offering”) for the sale of the following:

 units of the Company (each, a “ Unit”) at a price of C$0.22 per Unit (the “ Unit Price”),

subject to the minimum sale of 4,545,455 Units for minimum gross proceeds of

C$1,000,000.10 from the sale of Units;

 up to 6,153,846 flow-through units of the Company to be sold to charitable purchasers

(each, a “1st Tranche Charity FT Unit”) at a price of C$0.325 per 1st Tranche Charity FT

Unit for gross proceeds of up to C$1,999,999.95 from the sale of 1 st Tranche Charity FT

Units; and

 flow-through units of the Company to be sold to charitable purchasers (each, a “ 2nd

Tranche Charity FT Unit ”, and together with the 1 st Tranche Charity FT Units, the

“Charity FT Units”) at a price of C$0.30 per 2nd Tranche Charity FT Unit.

The Units and Charity FT Units shall collectively be referred to as the “ Public Offering

Securities”.

Each Unit will consist of (i) one common share of the Company (a “Unit Share”) and (ii) one-half

of one common share purchase warrant (each whole warrant, a “ Unit Warrant”). Each Charity

FT Unit will consist of (i) one common share of the Company (each, a “ Charity FT Share”) and

(ii) one-half of one common share purchase warrant (each whole warrant, a “ Charity FT

Warrant”). Each Charity FT Share and each whole Charity FT Warrant comprising a Charity FT

Unit will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income

Tax Act (Canada) (the “Income Tax Act”). Each Unit Warrant and Charity FT Warrant shall entitle

the holder to purchase one common share of the Company on a non-flow-through basis (each, a

“Warrant Share”) at a price of C$0.30 at any time on or before that date which is 36 months after

the Closing Date (as defined below).

The Company has granted to the Agents an option (the “Over-Allotment Option”, and together

with the Marketed Public Offering, the “Public Offering”), exercisable, in whole or in part, at any

time for a period of up to 30 days after and including the Closing Date, to sell the number of

additional Public Offering Securities equal to up to 15% of the number of Public Offering Securities

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sold pursuant to the Marketed Public Offering at their respective offering prices to cover over

allotments, if any, and for market stabilization purposes.

Concurrently with the Marketed Public Offering, the Company has engaged the Agents to act as

co-lead agents and joint bookrunners in connection with a “best efforts” private placement (the

“Marketed Private Placement”) for the sale of flow-through shares of the Company (each, a “FT

Share”) at a price of C$0.25 per FT Share (the “FT Share Price”). Each FT Share will qualify as

a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act.

The Company also grants the Agents an option, exercisable in full or in part up to 48 hours prior

to the closing of the Marketed Private Placement, to sell up to that number of additional FT Shares

that is equal to up to 15% of the FT Shares issued pursuant to the Marketed Private Placement

at the FT Share Price (the “ Agents’ Option”). The Marketed Private Placement and the FT

Shares issuable upon exercise of the Agents’ Option shall be collectively referred to as the

“Private Placement”. The Public Offering and the Private Placement shall collectively be referred

to as the “Offerings”.

The Company intends to raise a minimum of C$4,000,000 to a maximum of C$7,000,000 in

aggregate gross proceeds from the Marketed Public Offering and Marketed Private Placement

(up to C$8,050,000 in aggregate gross proceeds assuming the Over-Allotment Option and

Agents’ Option are exercised in full).

The net proceeds from the Offerings will be used by the Company to fund the exploration of the

Company’s projects in the Thelon Basin in Nunavut and the Athabasca Basin in northern

Saskatchewan as well as for general working capital purposes.

The gross proceeds from the sale of Charity FT Units and FT Shares will be used by the Company

to incur eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral

mining expenditures” as such terms are defined in the Income Tax Act (the “ Qualifying

Expenditures”) related to the Company’s uranium projects in the Thelon Basin in Nunavut and

the Athabasca Basin in northern Saskatchewan, on or before December 31, 2027. All Qualifying

Expenditures will be renounced in favour of the subscribers of the FT Shares and Charity FT Units

effective December 31, 2026.

The Public Offering Securities will be sold by way of a short-form prospectus to be filed with the

securities regulatory authorities in each of the provinces of Canada, except Québec pursuant to

National Instrument 44-101 – Short Form Prospectus Distributions. The Units will also be sold (i)

in the United States or to, or for the account or benefit of, U.S. persons, by way of private

placement pursuant to the exemptions from the registration requirements provided for under the

United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”); and (ii) in

jurisdictions outside of Canada and the United States on a private placement or equivalent basis,

in each case in accordance with all applicable laws, provided that no prospectus, registration

statement or other similar document is required to be filed in such jurisdiction.

The FT Shares will be offered by way of the “accredited investor” and “minimum amount

investment” exemptions under National Instrument 45-106 – Prospectus Exemptions in all of the

provinces of Canada. The FT Shares will be subject to a hold period in Canada ending on the

date that is four months plus one day following the Closing Date as defined in Subsection 2.5(2)

of Multilateral Instrument 45-102 – Resale of Securities.

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In connection with the Offerings, the Company has agreed to pay to the Agents a cash

commission equal to 6.0% of the gross proceeds raised in respect of the Offerings. In addition,

the Company will issue to the Agents such number of warrants of the Company (each, a “Broker

Warrant”) that is equal to 6.0% of the number of Units and Charity FT Units sold pursuant to the

Public Offering. Each Broker Warrant will entitle the holder thereof to purchase one common

share of the Company at the Unit Price at any time on or before the date that is 36 months

following the Closing Date. In addition, the Company will issue to the Agents such number of

warrants of the Company (each, a “PP Broker Warrant”) that is equal to 6.0% of the number of

FT Shares sold pursuant to the Private Placement. Each PP Broker Warrant will entitle the holder

thereof to purchase one common share of the Company at the FT Share Price at any time on or

before the date that is 36 months following the Closing Date.

The closing of the Offerings is expected to occur on or around May 7, 2026 (the “Closing Date”),

or on such date as agreed upon between the Company and Red Cloud. Completion of the

Offerings is subject to certain conditions including , but not limited to, the receipt of all necessary

regulatory approvals, including the approval of the TSX Venture Exchange (the “TSXV”).

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall

there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale

would be unlawful, including any of the securities in the United States of America. The securities

referred to in this news release have not been, and will not be, registered under the U.S. Securities

Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or

for the account or benefit of, U.S. persons, absent registration or any applicable exemption from

the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

About Geiger

Geiger controls approximately 390,000 hectares in Saskatchewan’s Athabasca Basin and 95,519

hectares in Nunavut’s Thelon Basin, two of the world’s most prospective uranium districts. The

Company is focused on discovering high-grade uranium deposits across both regions.

Geiger’s flagship asset, the Aberdeen Project (Thelon Basin), hosts the high-grade Tatiggaq and

Qavvik discoveries. Tatiggaq is a basement-hosted system defined over a 300-metre strike

length, with multiple steeply dipping mineralized lenses between 80 and 180 metres depth. The

system remains open over a 1.5 km strike length and at depth. Qavvik is a similarly styled

basement-hosted discovery extending from surface to ~400 metres depth, open over 500 metres

and at depth.

The Aberdeen Project hosts 50+ high-priority targets, many showing strong alteration and

anomalous uranium from limited historical drilli ng, with several areas remaining completely

untested.

In the Athabasca Basin, Geiger is advancing the Hook Project, which hosts the ACKIO near-

surface uranium discovery. ACKIO extends over 375 metres along strike and 150 metres in width,

with at least nine distinct uranium pods starting at 28 metres depth and continuing to

approximately 300 metres. The system remains open in multiple directions. The Hook Project

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also contains large clay-alteration systems with elevated radioactivity, highlighting additional

discovery potential beyond ACKIO.

For additional information:

“Rebecca Hunter”

Geiger Energy Corp.

Rebecca Hunter, Ph.D., P.Geo.

CEO, President and Director

Email: [email protected]

Phone: 416-644-1567

Cautionary Statement

This news release contains certain statements which constitute forward-looking statements or

information under applicable Canadian securities laws, including statements relating to the

expected size of the Offerings, the anticipated timing of closing the Offerings, the ability of the

Company to satisfy all conditions to closing the Offerings, and the expected use of proceeds from

the Offerings. Certain information in this news release is considered forward-looking within the

meaning of certain securities laws and is subject to important risks, uncertainties and

assumptions. This forward-looking information includes, among other things, information with

respect to Geiger’s beliefs, plans, expectations, anticipations, estimates and intentions. The

words “may”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “anticipate”, “estimate”,

“expect”, “intend”, “plan”, “target” and similar words and expressions are used to identify forward-

looking information. The forward-looking informat ion in this news release describes Geiger’s

expectations as of the date of this news release.

The results or events anticipated or predicted in such forward-looking information may differ

materially from actual results or events. Material factors which could cause actual results or

events to differ materially from such forward- looking information include, among others, risks

arising from general economic conditions; adverse industry events; inability to realize anticipated

synergies; future legislative and regulatory developments; inability to access sufficient capital from

internal and external sources, and/or inability to access sufficient capital on favourable terms;

income tax and regulatory matters; the ability of Geiger to implement its business strategies;

competition; currency and interest rate fluctuations and other risks. Readers are cautioned that

the foregoing list is not exhaustive.

Geiger cautions that the foregoing list of material factors is not exhaustive. When relying on

forward-looking information to make decisions, investors and others should carefully consider the

foregoing factors and other uncertainties and potential events. Geiger has assumed a certain

progression, which may not be realized. It has also assumed that the material factors referred to

in the previous paragraph will not cause such forward-looking information to differ materially from

actual results or events. However, the list of these factors is not exhaustive and is subject to

change and there can be no assurance that such assumptions will reflect the actual outcome of

such items or factors.

Neither the TSXV nor its Regulation Services Provi der (as that term is defined in the policies of

the TSXV) accepts responsibility for the adequacy or accuracy of this release.