Megawatt Updates Status of Filing Annual Financial Statements
LEGAL_48833880.1
Megawatt Updates Status of Filing Annual Financial Statements
Vancouver, British Columbia, February 12, 2026 -- MegaWatt Lithium and Battery Metals Corp.
(CSE:MEGA) (FSE: WR20) (OTCQB: WALRF) (the " Company", " MegaWatt Metals " or
“MegaWatt”) announces, further to its news release of January 29, 2026, that the Company’s
principal regulator, the British Columbia Securities Commission (the “ Commission”), granted a
management cease trade order (the “MCTO”) on January 29, 2026, under National Policy 12-203
Management Cease Trade Orders ("NP 12-203").
The MCTO prohibits the Company’s Chief Executive Officer and the Chief Financial Officer from
trading in the Company’s securities until the Company files its audited annual financial statements
for the year ended September 30, 2025, management’s discussion and analysis together with the
related certifications (collectively the “Required Documents”) and the Commission revokes the
MCTO. The MCTO does not affect the ability of other shareholders to trade their securities.
The Company’s Board of Directors and management continue to work diligently to complete and
file the Required Documents. The Company also confirms that since its press release dated
January 29, 2026, there is no material information concerning its affairs that has not been
generally disclosed.
Until the Required Documents are filed, the Company intends to continue to satisfy the provisions
of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status
reports in the form of further press releases for so long as it remains in default of its financial
statement filing requirements.
About MegaWatt Lithium and Battery Metals Corp.
MegaWatt is a British Columbia based company involved in the acquisition and exploration of
mineral properties.
MegaWatt has acquired a 100% interest in a company that holds a 100% interest (subject to a
1.5% NSR) in the Benedict Mountains Uranium Property, consisting of 2 mineral licenses covering
an area of approximately 350 hectares in the Central Mineral Belt on the east coast of Labrador,
Canada, approximately 200 km NE of Goose Bay (see press release dated April 1, 2024).
MegaWatt holds a 100% undivided interest (subject to a 1.5% NSR) on all base, rare earth
elements and precious metals, in the Cobalt Hill Property, consisting of 8 mineral claims covering
an area of approximately 1,727.43 hectares located in the Trail Cree k Mining Division in the
Province of British Columbia, Canada.
- 2 -
LEGAL_48833880.1
Additionally, the Company has acquired a 100% interest in a company that indirectly holds a
100% interest (subject to a 2% NSR) in the Tyr Silver Project (see press release dated October
15, 2020).
MegaWatt holds a 100% interest (subject to a 2% NSR) in and to the Route 381 Lithium Property,
comprised of 40 mineral claims located in James Bay Territory, north of Matagami in the Province
of Quebec, covering 2,126 hectares (see press release dated February 3, 2021), and a 100%
interest in 229 additional mineral exploration claims prospective for lithium, also in the James Bay
area of Quebec covering an area of 12,116 hectares or 121 square kms.
On Behalf of the Board of Directors,
MegaWatt Lithium and Battery Metals Corp.
Casey Forward, CEO
1055 West Georgia Street, Suite 1500
Vancouver, BC, Canada
V7X 1M5
For Further Information Please Contact:
Kelvin Lee, Chief Financial Officer
[email protected], (236) 521-6500
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions:
This news release may contain statements which constitute “forward -looking information”,
including statements regarding the plans, intentions, beliefs and current expectations of the
Company, its directors, or its officers with respect to the future business activities of the Company.
The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”,
“expect” and similar expressions, as they relate to the Company, or its management, are intended
to identify such forward -looking statements. Forward looking statements made in this news
release include the anticipated filing date of the Annual Financial Filings. Investors are cautioned
that any such forward -looking statements are not guarantees of future business activities and
involve risks and uncertainties, and that the Company’s future business activities may differ
materially from those in the forward -looking statements as a result of various factors, including,
but not limited to, availability of funds, personnel and other re sources necessary to conduct the
business activities of the Company. There can be no assurances that such information will prove
accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
The Company does not assume any obligation to update any forward-looking information except
as required under the applicable securities laws.