Tag: GlobeNewswire

HOUSTON, Oct. 06, 2026 (GLOBE NEWSWIRE) — KBR (NYSE: KBR) has been awarded a project by Aramco to support the upgrade of facilities across the Marjan offshore field in the Arabian Gulf.

Under the contract, KBR will provide engineering and project execution services to support key offshore processing, gas compression, and power infrastructure facilities within the Marjan field.

The project is expected to maintain the Marjan field’s production capacity through recent field developments. It is also expected to help advance associated gas processing capabilities and strengthen long-term performance of critical offshore assets through the integration of digital technologies, automation, and power system enhancements.

“For KBR, this award reflects our long project execution relationship with Aramco,” said Jay Ibrahim, President, Sustainable Technology Solutions, KBR. “By combining our deep offshore engineering expertise with advanced automation and digital integration, we aim to help achieve Aramco’s expectations.”

KBR has supported major energy projects across the Middle East for decades, delivering engineering, technology, and program management solutions that help customers optimize performance, improve reliability, and address evolving energy infrastructure needs.

The engineering work is expected to be executed primarily from KBR’s Houston and Al-Khobar offices, leveraging the company’s decades of experience delivering complex offshore energy infrastructure projects in the Middle East and around the world.

About KBR
KBR is a global, capital-light lifecycle solutions company serving customers in high-complexity industrial, energy and infrastructure markets. Through its advisory, technical, engineering and operating expertise, KBR helps customers shape investments, reduce risk, deploy complex technologies, improve performance and deliver reliable outcomes across the asset lifecycle.

Following the planned separation of the Mission Technology Solutions business, KBR will operate as a focused standalone company with differentiated customer relationships, global execution capabilities and a capital-efficient business model. The company is positioned to benefit from long-term secular growth trends across energy security, energy transition, industrial modernization, and infrastructure investment. KBR’s 15,000 employees operate across more than 40 countries.

About Trinzic
KBR’s Mission Technology Solutions business is expected to be spun off as an independent public company in January 2027 and will then operate under the new name Trinzic. The name is inspired by the word intrinsic, reflecting the essential capabilities, deep expertise, speed and trusted performance that have defined the business for decades. Trinzic will enter the market as a global company and partner to customers supporting some of the highest priority missions across national security, human performance, global operations and space. Trinzic will launch with more than $5 billion in annual revenue, established partnerships and contracts, 18,000 employees and a global footprint.

Forward Looking Statements

The statements in this press release that are not historical statements, including statements regarding KBR’s engineering and project execution services and spin-off of the Mission Technology Solutions business, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company’s control, that could cause actual results to differ materially from the results expressed or implied by the statements. These risks, uncertainties and assumptions include, but are not limited to, those set forth in the company’s most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

For further information, please contact:

Investors
Rachael Goldwait
Vice President, Investor Relations
713-753-5082
Investors@kbr.com

Media
Philip Ivy
Vice President, Global Communications and Marketing
713-753-3800
MediaRelations@kbr.com

HOUSTON, Oct. 06, 2026 (GLOBE NEWSWIRE) — KBR (NYSE: KBR) has been awarded a project by Aramco to support the upgrade of facilities across the Marjan offshore field in the Arabian Gulf.

Under the contract, KBR will provide engineering and project execution services to support key offshore processing, gas compression, and power infrastructure facilities within the Marjan field.

The project is expected to maintain the Marjan field’s production capacity through recent field developments. It is also expected to help advance associated gas processing capabilities and strengthen long-term performance of critical offshore assets through the integration of digital technologies, automation, and power system enhancements.

“For KBR, this award reflects our long project execution relationship with Aramco,” said Jay Ibrahim, President, Sustainable Technology Solutions, KBR. “By combining our deep offshore engineering expertise with advanced automation and digital integration, we aim to help achieve Aramco’s expectations.”

KBR has supported major energy projects across the Middle East for decades, delivering engineering, technology, and program management solutions that help customers optimize performance, improve reliability, and address evolving energy infrastructure needs.

The engineering work is expected to be executed primarily from KBR’s Houston and Al-Khobar offices, leveraging the company’s decades of experience delivering complex offshore energy infrastructure projects in the Middle East and around the world.

About KBR
KBR is a global, capital-light lifecycle solutions company serving customers in high-complexity industrial, energy and infrastructure markets. Through its advisory, technical, engineering and operating expertise, KBR helps customers shape investments, reduce risk, deploy complex technologies, improve performance and deliver reliable outcomes across the asset lifecycle.

Following the planned separation of the Mission Technology Solutions business, KBR will operate as a focused standalone company with differentiated customer relationships, global execution capabilities and a capital-efficient business model. The company is positioned to benefit from long-term secular growth trends across energy security, energy transition, industrial modernization, and infrastructure investment. KBR’s 15,000 employees operate across more than 40 countries.

About Trinzic
KBR’s Mission Technology Solutions business is expected to be spun off as an independent public company in January 2027 and will then operate under the new name Trinzic. The name is inspired by the word intrinsic, reflecting the essential capabilities, deep expertise, speed and trusted performance that have defined the business for decades. Trinzic will enter the market as a global company and partner to customers supporting some of the highest priority missions across national security, human performance, global operations and space. Trinzic will launch with more than $5 billion in annual revenue, established partnerships and contracts, 18,000 employees and a global footprint.

Forward Looking Statements

The statements in this press release that are not historical statements, including statements regarding KBR’s engineering and project execution services and spin-off of the Mission Technology Solutions business, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company’s control, that could cause actual results to differ materially from the results expressed or implied by the statements. These risks, uncertainties and assumptions include, but are not limited to, those set forth in the company’s most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

For further information, please contact:

Investors
Rachael Goldwait
Vice President, Investor Relations
713-753-5082
Investors@kbr.com

Media
Philip Ivy
Vice President, Global Communications and Marketing
713-753-3800
MediaRelations@kbr.com

Strategic Preferred Equity Investment and Transformational Refinancing Transactions 
to Provide Additional Financial Flexibility

Partnership with PT Danantara Investment Management and PT Energi Mega Persada Tbk
to Support Growth and Value Creation

FORT WORTH, Texas, Oct. 06, 2026 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (“HighPeak” or the “Company) (NASDAQ: HPK) today announced a comprehensive refinancing through a $450 million preferred equity investment and a new $800 million credit facility.

HighPeak has entered into an agreement with PT Danantara Investment Management (“DIM”) and PT Energi Mega Persada Tbk (IDX: ENRG) (“EMP”) (collectively, the “Investors”), pursuant to which the Investors have committed to purchase 450,000 shares of a newly created series of convertible preferred stock of the Company, to be designated as Series A 6% Perpetual Convertible Preferred Stock (the “Preferred Stock”) for total gross proceeds to the Company of approximately $450 million (the “Investment”).

In connection with the transaction, the Company has been provided with Committed Financing from Citibank, N.A. (“Citibank”) and Fifth Third Bank, N.A. (“Fifth Third”) for a new $800 million reserve-based credit facility (the “RBL”), which is expected to be completed in connection with the closing of the Investment. Together, the proceeds from the Investment, initial borrowings under the new RBL and available cash are expected to allow HighPeak to repay its existing $1.17 billion term loan in full. The Investment is expected to close during the fourth quarter of 2026 (the “Closing Date”), subject to customary closing conditions.

HighPeak’s President and Chief Executive Officer, Michael Hollis said, “Today marks a milestone for HighPeak Energy. This comprehensive refinancing will materially strengthen our balance sheet, significantly reduce our financing burden and enhance our ability to generate long-term value for shareholders. The combination of permanent capital from high-quality investors alongside a new reserve-based lending facility will enable HighPeak to retire its existing term loan and establish a much more effective capital structure.”

DIM is a sovereign fund of the Republic of Indonesia, and EMP is an Indonesia-based upstream oil and gas company. This transaction provides the Investors with exposure to HighPeak’s high-quality Midland Basin asset base, including its significant acreage position, inventory of high-quality drilling locations and infrastructure system, all situated within one of the world’s most prolific hydrocarbon basins. Under the terms of the Investment, DIM and EMP will, among other things, each appoint one director to HighPeak’s Board of Directors.
Mr. Hollis continued, “We expect that this transaction will improve our liquidity profile, materially reduce our annual interest expense, and provide us with greater financial flexibility to focus on disciplined development, free cash flow generation and continued shareholder value creation. We are particularly pleased to welcome our new capital investors, DIM and EMP, who share our long-term vision for the Company and support the direction and priorities we have established going forward. We also appreciate the support of Citibank and Fifth Third in committing to arrange and underwrite our new credit facility. These relationships provide an important foundation for future strategic collaboration as we look ahead to executing our business strategy from a stronger financial position.”

Preferred Stock Details
The Preferred Stock does not have a maturity date. Cumulative cash dividends on the Preferred Stock will be payable quarterly in arrears, on March 31, June 30, September 30 and December 31 of each year, when, as and if declared by the Company’s Board of Directors.

Each share of Preferred Stock is convertible, at the holder’s option at any time at the rate per share determined by dividing (i) the sum of (x) $1,000 per share and (y) the accrued and unpaid dividends since the immediately preceding preferred dividend by (ii) $9.50 (the “Conversion Price”).

The Preferred Stock may be redeemed by the Company on or after the third anniversary of the Closing Date upon 30 days’ notice at a redemption price equal to an amount that would result in a 10.0% IRR. The Preferred Stock will be mandatorily convertible at the option of the Company after the third anniversary of the Closing Date if the closing price of the Company’s common stock exceeds 150% of the Conversion Price for thirty out of forty consecutive market trading days.

Credit Facility Details
The proposed new senior secured facility is expected to include an initial borrowing base and elected commitments totaling $800 million. Availability under the RBL will be subject to the final borrowing base, elected commitments, outstanding borrowings, letters of credit, financial covenants and other conditions.

Advisors
Vinson & Elkins LLP is acting as legal counsel to HighPeak. Milbank LLP is acting as legal counsel to the Investors. Barclays Bank PLC is acting as financial advisor to DIM, and Citigroup Global Markets Singapore Pte. Ltd. is acting as financial advisor to EMP. Bracewell LLP is acting as legal counsel to Citibank, N.A.

About HighPeak Energy, Inc.
HighPeak Energy, Inc. is a publicly traded independent crude oil and natural gas company, headquartered in Fort Worth, Texas, focused on the acquisition, development, exploration and exploitation of unconventional crude oil and natural gas reserves in the Midland Basin in West Texas.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, with respect to the Investment, the use of proceeds therefrom, the Company’s entry into the RBL and the contemplated refinancing of the Company’s term loan. These forward-looking statements, including statements regarding the intention, completion, timing and option relating to the Investment, the RBL and the refinancing of the Company’s term loan, represent the Company’s expectations or beliefs concerning future events. These forward-looking statements are subject to risks and uncertainties related to market conditions and the satisfaction of customary closing conditions related to the Investment, the RBL and the refinancing of the Company’s term loan. There can be no assurance that the Company will be able to complete the Investment, enter into the RBL on satisfactory terms or at all or refinance the term loan. When used in this document, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date on which they are made. The Company cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company, incident to the development, production, gathering and sale of oil, natural gas and natural gas liquids.

Investor Contact:
Ryan Hightower
Executive Vice President, Business Development
817.850.9204
rhightower@highpeakenergy.com
Source: HighPeak Energy, Inc.

Strategic Preferred Equity Investment and Transformational Refinancing Transactions 
to Provide Additional Financial Flexibility

Partnership with PT Danantara Investment Management and PT Energi Mega Persada Tbk
to Support Growth and Value Creation

FORT WORTH, Texas, Oct. 06, 2026 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (“HighPeak” or the “Company) (NASDAQ: HPK) today announced a comprehensive refinancing through a $450 million preferred equity investment and a new $800 million credit facility.

HighPeak has entered into an agreement with PT Danantara Investment Management (“DIM”) and PT Energi Mega Persada Tbk (IDX: ENRG) (“EMP”) (collectively, the “Investors”), pursuant to which the Investors have committed to purchase 450,000 shares of a newly created series of convertible preferred stock of the Company, to be designated as Series A 6% Perpetual Convertible Preferred Stock (the “Preferred Stock”) for total gross proceeds to the Company of approximately $450 million (the “Investment”).

In connection with the transaction, the Company has been provided with Committed Financing from Citibank, N.A. (“Citibank”) and Fifth Third Bank, N.A. (“Fifth Third”) for a new $800 million reserve-based credit facility (the “RBL”), which is expected to be completed in connection with the closing of the Investment. Together, the proceeds from the Investment, initial borrowings under the new RBL and available cash are expected to allow HighPeak to repay its existing $1.17 billion term loan in full. The Investment is expected to close during the fourth quarter of 2026 (the “Closing Date”), subject to customary closing conditions.

HighPeak’s President and Chief Executive Officer, Michael Hollis said, “Today marks a milestone for HighPeak Energy. This comprehensive refinancing will materially strengthen our balance sheet, significantly reduce our financing burden and enhance our ability to generate long-term value for shareholders. The combination of permanent capital from high-quality investors alongside a new reserve-based lending facility will enable HighPeak to retire its existing term loan and establish a much more effective capital structure.”

DIM is a sovereign fund of the Republic of Indonesia, and EMP is an Indonesia-based upstream oil and gas company. This transaction provides the Investors with exposure to HighPeak’s high-quality Midland Basin asset base, including its significant acreage position, inventory of high-quality drilling locations and infrastructure system, all situated within one of the world’s most prolific hydrocarbon basins. Under the terms of the Investment, DIM and EMP will, among other things, each appoint one director to HighPeak’s Board of Directors.
Mr. Hollis continued, “We expect that this transaction will improve our liquidity profile, materially reduce our annual interest expense, and provide us with greater financial flexibility to focus on disciplined development, free cash flow generation and continued shareholder value creation. We are particularly pleased to welcome our new capital investors, DIM and EMP, who share our long-term vision for the Company and support the direction and priorities we have established going forward. We also appreciate the support of Citibank and Fifth Third in committing to arrange and underwrite our new credit facility. These relationships provide an important foundation for future strategic collaboration as we look ahead to executing our business strategy from a stronger financial position.”

Preferred Stock Details
The Preferred Stock does not have a maturity date. Cumulative cash dividends on the Preferred Stock will be payable quarterly in arrears, on March 31, June 30, September 30 and December 31 of each year, when, as and if declared by the Company’s Board of Directors.

Each share of Preferred Stock is convertible, at the holder’s option at any time at the rate per share determined by dividing (i) the sum of (x) $1,000 per share and (y) the accrued and unpaid dividends since the immediately preceding preferred dividend by (ii) $9.50 (the “Conversion Price”).

The Preferred Stock may be redeemed by the Company on or after the third anniversary of the Closing Date upon 30 days’ notice at a redemption price equal to an amount that would result in a 10.0% IRR. The Preferred Stock will be mandatorily convertible at the option of the Company after the third anniversary of the Closing Date if the closing price of the Company’s common stock exceeds 150% of the Conversion Price for thirty out of forty consecutive market trading days.

Credit Facility Details
The proposed new senior secured facility is expected to include an initial borrowing base and elected commitments totaling $800 million. Availability under the RBL will be subject to the final borrowing base, elected commitments, outstanding borrowings, letters of credit, financial covenants and other conditions.

Advisors
Vinson & Elkins LLP is acting as legal counsel to HighPeak. Milbank LLP is acting as legal counsel to the Investors. Barclays Bank PLC is acting as financial advisor to DIM, and Citigroup Global Markets Singapore Pte. Ltd. is acting as financial advisor to EMP. Bracewell LLP is acting as legal counsel to Citibank, N.A.

About HighPeak Energy, Inc.
HighPeak Energy, Inc. is a publicly traded independent crude oil and natural gas company, headquartered in Fort Worth, Texas, focused on the acquisition, development, exploration and exploitation of unconventional crude oil and natural gas reserves in the Midland Basin in West Texas.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, with respect to the Investment, the use of proceeds therefrom, the Company’s entry into the RBL and the contemplated refinancing of the Company’s term loan. These forward-looking statements, including statements regarding the intention, completion, timing and option relating to the Investment, the RBL and the refinancing of the Company’s term loan, represent the Company’s expectations or beliefs concerning future events. These forward-looking statements are subject to risks and uncertainties related to market conditions and the satisfaction of customary closing conditions related to the Investment, the RBL and the refinancing of the Company’s term loan. There can be no assurance that the Company will be able to complete the Investment, enter into the RBL on satisfactory terms or at all or refinance the term loan. When used in this document, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date on which they are made. The Company cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company, incident to the development, production, gathering and sale of oil, natural gas and natural gas liquids.

Investor Contact:
Ryan Hightower
Executive Vice President, Business Development
817.850.9204
rhightower@highpeakenergy.com
Source: HighPeak Energy, Inc.

Agreement establishes a strategic foothold in an emerging European AI market while Applied Digital remains focused on executing its U.S. development pipeline

DALLAS, Oct. 06, 2026 (GLOBE NEWSWIRE) — Applied Digital (NASDAQ: APLD), a U.S. based designer, developer, owner and operator of large-scale, purpose-built data centers to support high-performance computing (“HPC”) workloads, including artificial intelligence (“AI”), machine learning, and other accelerated-compute applications, today announced it has entered into an agreement providing access to up to 1 gigawatt (GW) of potential power capacity in Finland, representing the Company’s first development opportunity outside of the United States.

With this agreement, the Company plans to build a large-scale AI Factory campus capable of scaling to as much as 1 GW. Initial power availability is anticipated beginning in 2028. Applied Digital has begun marketing the site and is currently engaged in discussions with leading global hyperscale customers.

While Applied Digital’s near-term development strategy and execution priorities remain firmly centered on its growing U.S. portfolio, Finland represents a measured first step toward selectively extending the Company’s platform into attractive international markets over time. The agreement was structured to provide meaningful long-term growth potential while limiting the Company’s initial exposure and maintaining disciplined capital deployment.

“Applied Digital has built its platform around identifying the right power in the right markets and turning that power into operational AI capacity,” said Wes Cummins, Chairman and CEO of Applied Digital. “Finland stood out because many of the characteristics that have supported our success in North Dakota are also present in the Nordics — a favorable climate, an attractive energy ecosystem, strong connectivity and the ability to develop at meaningful scale.”

Cummins continued, “This is a deliberate first step, not a change in our strategy. Our focus remains firmly on executing the projects in front of us in the United States. At the same time, as we continue building Applied Digital into a category leader in AI infrastructure, we believe it is important to selectively secure compelling sites that can extend our growth runway over the long term.”

Finland has emerged as an increasingly attractive market for hyperscale and AI development, supported by its cooler climate, established energy and digital networks, and growing investment from global technology leaders. Applied Digital believes these characteristics align closely with the development principles that underpin its U.S. portfolio: securing scalable power and land in markets where AI capacity can be developed efficiently, responsibly and repeatedly.

The Finland campus represents the first potential application of Applied Digital’s AI Factory campus development model outside the U.S. The Company intends to advance the project in a disciplined manner, with future investment and development decisions tied to customer demand, commercial milestones and the achievement of necessary regulatory and development requirements.

“Our ability to scale is not about planting flags in as many markets as possible,” Cummins said. “It is about identifying exceptional sites and applying the same disciplined model repeatedly. We have demonstrated that model across our U.S. portfolio. Finland gives us the opportunity to begin proving that platform can travel.”

About Applied Digital

Applied Digital (Nasdaq: APLD) — named Best Data Center in the Americas 2025 by Datacloud — designs, builds, and operates high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads. Headquartered in Dallas, TX, and founded in 2021, the company combines hyperscale expertise, closed-loop cooling, and rapid deployment capabilities to deliver secure, scalable compute at industry-leading speed and efficiency, while creating economic opportunities in underserved communities through its AI Factory franchise model.

Learn more at applieddigital.com or follow @APLDdigital on X and LinkedIn.

Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives, and future financing plans. These statements use words, and variations of words, such as “will,” “continue,” “build,” “future,” “increase,” “drive,” “believe,” “look,” “ahead,” “confident,” “proven,” “deliver,” “outlook,” “expect,” “project” and “predict.” Other examples of forward-looking statements may include, but are not limited to, (i) statements that reflect perspectives and expectations regarding lease agreements and any current or prospective data center campus development; (ii) statements about the high-performance computing (HPC) industry; (iii) statements of company plans and objectives, including the company’s evolving business model, or estimates or predictions of actions by suppliers; (iv) statements of future economic performance; (v) statements regarding international markets and expansion and development internationally, and (vi) statements of assumptions underlying other statements and statements about the company or its business. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the company’s expectations and projections. These risks, uncertainties, and other factors include, among others: whether or not our customers exercise the renewal options under their leases with us (if not, we will not recognize further revenue from such customer under its respective lease); our ability to complete construction of our data center campuses as planned, including internationally; the lead time of customer acquisition and leasing decisions and related internal approval processes; changes to artificial intelligence and HPC infrastructure needs and their impact on future plans; costs related to the HPC operations and strategy; our ability to timely deliver any services required in connection with completion of installation under lease agreements; our ability to raise additional capital to fund the ongoing datacenter construction and operations; differences in sourcing materials and labor internationally; our ability to obtain financing of datacenter leases and more broadly for our development and general corporate activities; our dependence on principal customers, including our ability to execute and perform our obligations under our leases with key customers; our ability to timely and successfully build new hosting facilities with the appropriate contractual margins and efficiencies; power or other supply disruptions and equipment failures; the inability to comply with regulations, developments and changes in regulations, including internationally; cash flow and access to capital; availability of financing to continue to grow our business; decline in demand for our products and services; maintenance of third party relationships; and conditions in the debt and equity capital markets. A further list and description of these risks, uncertainties, and other factors can be found in the company’s most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, including in the sections captioned “Forward-Looking Statements” and “Risk Factors,” and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, on the company’s website (www.applieddigital.com) under “Investors,” or on request from the company. Information in this press release is as of the dates and time periods indicated herein, and the company does not undertake to update any of the information contained in these materials, except as required by law.

Media Contact
JSA (Jaymie Scotto & Associates)
(856) 264-7827
jsa_applied@jsa.net

Investor Relations Contacts
Matt Glover or Ralf Esper
Gateway Group, Inc.
(949) 574-3860
APLD@gateway-grp.com

Agreement establishes a strategic foothold in an emerging European AI market while Applied Digital remains focused on executing its U.S. development pipeline

DALLAS, Oct. 06, 2026 (GLOBE NEWSWIRE) — Applied Digital (NASDAQ: APLD), a U.S. based designer, developer, owner and operator of large-scale, purpose-built data centers to support high-performance computing (“HPC”) workloads, including artificial intelligence (“AI”), machine learning, and other accelerated-compute applications, today announced it has entered into an agreement providing access to up to 1 gigawatt (GW) of potential power capacity in Finland, representing the Company’s first development opportunity outside of the United States.

With this agreement, the Company plans to build a large-scale AI Factory campus capable of scaling to as much as 1 GW. Initial power availability is anticipated beginning in 2028. Applied Digital has begun marketing the site and is currently engaged in discussions with leading global hyperscale customers.

While Applied Digital’s near-term development strategy and execution priorities remain firmly centered on its growing U.S. portfolio, Finland represents a measured first step toward selectively extending the Company’s platform into attractive international markets over time. The agreement was structured to provide meaningful long-term growth potential while limiting the Company’s initial exposure and maintaining disciplined capital deployment.

“Applied Digital has built its platform around identifying the right power in the right markets and turning that power into operational AI capacity,” said Wes Cummins, Chairman and CEO of Applied Digital. “Finland stood out because many of the characteristics that have supported our success in North Dakota are also present in the Nordics — a favorable climate, an attractive energy ecosystem, strong connectivity and the ability to develop at meaningful scale.”

Cummins continued, “This is a deliberate first step, not a change in our strategy. Our focus remains firmly on executing the projects in front of us in the United States. At the same time, as we continue building Applied Digital into a category leader in AI infrastructure, we believe it is important to selectively secure compelling sites that can extend our growth runway over the long term.”

Finland has emerged as an increasingly attractive market for hyperscale and AI development, supported by its cooler climate, established energy and digital networks, and growing investment from global technology leaders. Applied Digital believes these characteristics align closely with the development principles that underpin its U.S. portfolio: securing scalable power and land in markets where AI capacity can be developed efficiently, responsibly and repeatedly.

The Finland campus represents the first potential application of Applied Digital’s AI Factory campus development model outside the U.S. The Company intends to advance the project in a disciplined manner, with future investment and development decisions tied to customer demand, commercial milestones and the achievement of necessary regulatory and development requirements.

“Our ability to scale is not about planting flags in as many markets as possible,” Cummins said. “It is about identifying exceptional sites and applying the same disciplined model repeatedly. We have demonstrated that model across our U.S. portfolio. Finland gives us the opportunity to begin proving that platform can travel.”

About Applied Digital

Applied Digital (Nasdaq: APLD) — named Best Data Center in the Americas 2025 by Datacloud — designs, builds, and operates high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads. Headquartered in Dallas, TX, and founded in 2021, the company combines hyperscale expertise, closed-loop cooling, and rapid deployment capabilities to deliver secure, scalable compute at industry-leading speed and efficiency, while creating economic opportunities in underserved communities through its AI Factory franchise model.

Learn more at applieddigital.com or follow @APLDdigital on X and LinkedIn.

Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives, and future financing plans. These statements use words, and variations of words, such as “will,” “continue,” “build,” “future,” “increase,” “drive,” “believe,” “look,” “ahead,” “confident,” “proven,” “deliver,” “outlook,” “expect,” “project” and “predict.” Other examples of forward-looking statements may include, but are not limited to, (i) statements that reflect perspectives and expectations regarding lease agreements and any current or prospective data center campus development; (ii) statements about the high-performance computing (HPC) industry; (iii) statements of company plans and objectives, including the company’s evolving business model, or estimates or predictions of actions by suppliers; (iv) statements of future economic performance; (v) statements regarding international markets and expansion and development internationally, and (vi) statements of assumptions underlying other statements and statements about the company or its business. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the company’s expectations and projections. These risks, uncertainties, and other factors include, among others: whether or not our customers exercise the renewal options under their leases with us (if not, we will not recognize further revenue from such customer under its respective lease); our ability to complete construction of our data center campuses as planned, including internationally; the lead time of customer acquisition and leasing decisions and related internal approval processes; changes to artificial intelligence and HPC infrastructure needs and their impact on future plans; costs related to the HPC operations and strategy; our ability to timely deliver any services required in connection with completion of installation under lease agreements; our ability to raise additional capital to fund the ongoing datacenter construction and operations; differences in sourcing materials and labor internationally; our ability to obtain financing of datacenter leases and more broadly for our development and general corporate activities; our dependence on principal customers, including our ability to execute and perform our obligations under our leases with key customers; our ability to timely and successfully build new hosting facilities with the appropriate contractual margins and efficiencies; power or other supply disruptions and equipment failures; the inability to comply with regulations, developments and changes in regulations, including internationally; cash flow and access to capital; availability of financing to continue to grow our business; decline in demand for our products and services; maintenance of third party relationships; and conditions in the debt and equity capital markets. A further list and description of these risks, uncertainties, and other factors can be found in the company’s most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, including in the sections captioned “Forward-Looking Statements” and “Risk Factors,” and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, on the company’s website (www.applieddigital.com) under “Investors,” or on request from the company. Information in this press release is as of the dates and time periods indicated herein, and the company does not undertake to update any of the information contained in these materials, except as required by law.

Media Contact
JSA (Jaymie Scotto & Associates)
(856) 264-7827
jsa_applied@jsa.net

Investor Relations Contacts
Matt Glover or Ralf Esper
Gateway Group, Inc.
(949) 574-3860
APLD@gateway-grp.com

LA JOLLA, Calif., Oct. 06, 2026 (GLOBE NEWSWIRE) — MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (NASDAQ: MNOV) and the Standard Market of the Tokyo Stock Exchange (Code Number: 4875) (the “Company”), announces that management will participate in the Maxim Growth Summit taking place October 12-14, 2026, at the Hard Rock Hotel New York. Management will be available for one-on-one meetings with investors registered for the event.

Investors interested in scheduling a meeting with MediciNova management should contact their Maxim representative or visit here for more information.

About MediciNova

MediciNova, Inc. is a clinical-stage biopharmaceutical company developing a broad late-stage pipeline of novel small molecule therapies for inflammatory, fibrotic, and neurodegenerative diseases. Based on two compounds, MN-166 (ibudilast) and MN-001 (tipelukast), with multiple mechanisms of action and strong safety profiles, MediciNova has numerous programs in clinical development. MediciNova’s lead asset, MN-166 (ibudilast), is currently in late stage trials for amyotrophic lateral sclerosis (ALS) and degenerative cervical myelopathy (DCM) and is Phase 3-ready for progressive multiple sclerosis (MS). MN-166 (ibudilast) is also being evaluated in Phase 2 trials in Long COVID and substance dependence. MN-001 (tipelukast) was evaluated in a Phase 2 trial in idiopathic pulmonary fibrosis (IPF) and a second Phase 2 trial in non-alcoholic fatty liver disease (NAFLD) is ongoing. MediciNova has a strong track record of securing investigator-sponsored clinical trials funded through government grants.

Foward Looking Statement

Statements in this press release that are not historical in nature constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the future development and efficacy of MN-166 and MN-001. These forward-looking statements may be preceded by, followed by, or otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “projects,” “can,” “could,” “may,” “will,” “would,” “considering,” “planning” or similar expressions. These forward-looking statements involve a number of risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Factors that may cause actual results or events to differ materially from those expressed or implied by these forward-looking statements include, but are not limited to, risks of obtaining future partner or grant funding for development of MN-166 and MN-001, and risks of raising sufficient capital when needed to fund MediciNova’s operations and contribution to clinical development, risks and uncertainties inherent in clinical trials, including the potential cost, expected timing and risks associated with clinical trials designed to meet FDA guidance and the viability of further development considering these factors, product development and commercialization risks, the uncertainty of whether the results of clinical trials will be predictive of results in later stages of product development, the risk of delays or failure to obtain or maintain regulatory approval, risks associated with the reliance on third parties to sponsor and fund clinical trials, risks regarding intellectual property rights in product candidates and the ability to defend and enforce such intellectual property rights, the risk of failure of the third parties upon whom MediciNova relies to conduct its clinical trials and manufacture its product candidates to perform as expected, the risk of increased cost and delays due to delays in the commencement, enrollment, completion or analysis of clinical trials or significant issues regarding the adequacy of clinical trial designs or the execution of clinical trials, and the timing of expected filings with the regulatory authorities, MediciNova’s collaborations with third parties, the availability of funds to complete product development plans and MediciNova’s ability to obtain third party funding for programs and raise sufficient capital when needed, and the other risks and uncertainties described in MediciNova’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2025 and its subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date hereof. MediciNova disclaims any intent or obligation to revise or update these forward-looking statements.

INVESTOR CONTACT:

David H. Crean, Ph.D.
Chief Business Officer
MediciNova, Inc
info@medicinova.com

TORONTO, Oct. 06, 2026 (GLOBE NEWSWIRE) — Blossom Gold Inc. (formerly, 1290448 B.C. Ltd.) (“Blossom” or the “Company”) (TSX: BGAU) is pleased to announce initial precious metals mineralization on its 100%-owned Kamma Claims, located west of the Company’s Rosebud Open-Pit, Heap-Leach Project (“Rosebud” or the “Project”) in Pershing County, Nevada. The discovery comes from the Company’s first phase, reverse circulation (“RC”) drilling program at Kamma, which commenced on August 31, 2026.

Highlights

• Hole KM26-003 intersected 7.6 meters grading 0.16 gAu/t from 38.1 meters or 0.005opt gold from 125 feet. KM26-003 represents a discovery of gold mineralization under shallow alluvium along a pronounced magnetic anomaly that is coincident with a range-bounding fault in a similar structural setting to the mineralization at the Hycroft Mine approximately 3 miles to the north.
• Targeting model validated: mineralization is associated with structures interpreted from aeromagnetic anomalies as conduits for mineralizing hydrothermal fluids, consistent with the Company’s geological model.
• Favourable geological setting: Kamma occupies a graben setting similar to the Rosebud Claim Block and is positioned stratigraphically between the Hycroft Mine and Rosebud.
• Program status: The first phase RC program of seven scout holes totaling 10,000 feet (3,050 meters) has been completed. The primary objectives were to characterize alluvial depth, lithology, presence of hydrothermal alteration, and the potential for gold mineralization under alluvial cover on the Kamma claim block. All of these objectives were met in the process of making the Kamma discovery. Going forward, geochemical and lithological analyses of all drill holes will be used to vector towards potential higher-grade feeder structures with a core drilling program. Additional surface-based geochemical and geophysical work is being considered to complement RC drillhole-based geochemical vectoring.

“It does not get any better than this. You get some good ground in a good setting. You appreciate why plenty of serious folks didn’t focus on it. You turn it over to smart folks with good ideas who put boots on the ground and apply science. Lady Luck smiles. And there it is, gold mineralization!” said Rick Winters, Chief Executive Officer of Blossom. “This is an outstanding first phase result and we will now step back, get all the data we can out of our initial drilling and develop follow-up plans. Kamma has a solid budget through 2027 to advance this discovery and provides a second avenue for value creation while we continue to advance Rosebud to feasibility.”

The first phase Kamma RC program began in late August 2026 following approval of a Bureau of Land Management Notice of Intent in June 2026. The program was planned to test targets on the Kamma Claims, west of Rosebud and south of the Hycroft mine.

“The results confirm the aeromagnetic feature we targeted with KM26-003 representing a zone of hydrothermal alteration associated with gold mineralization along a mapped range-bounding fault parallel to those that host gold-silver mineralization the at Hycroft Mine, approximately 3 miles north,” added Dr. John DeDecker, Vice President, Exploration. “The style of alteration and mineralization we are seeing is encouraging and very reminiscent of what we see at Rosebud. We will conduct further geochemical analyses to vector toward higher-grade feeder structures in follow-up core drilling. It is particularly encouraging that the alluvial cover in many spots is relatively thin and that the gold intercepted by KM26-003 occurs at a depth of 38 meters.”

The Kamma Claims are situated in a graben setting similar to the Rosebud Claim Block and, although the area has a history of significant placer gold production, it had seen limited modern exploration prior to Blossom’s program. Mapping completed ahead of drilling identified Badger Formation conglomerate rocks, placing the Kamma Claims stratigraphically between the Hycroft Mine and Rosebud. The Company’s work indicates the claims host potential primary structures (Figure 1) that could provide mineralization pathways like those at the adjacent Hycroft Mine, including the Vortex silver discovery. The best zone of gold mineralization in KM26-003 is hosted in plagioclase-porphyritic dacite immediately below the alluvial contact at a down-hole depth of 25 meters and is associated with intense hydrothermal alteration and disseminated sulfide mineralization. Several additional intervals of weaker hydrothermal alteration and gold mineralization occur throughout KM26-003 suggesting proximity to hydrothermal fluid conduits (Figure 2).

The first phase RC drilling program has provided a good understanding of the depth to bedrock and bedrock lithologies across the claim block. Further geochemical analyses of all drill holes will be used to develop hydrothermal alteration and gold-pathfinder element models to assist with vectoring towards the core of this newly discovered gold-bearing hydrothermal system. The Company will integrate these results with the geophysical and geological datasets to design follow-up drilling, including step-out holes along strike and deeper holes to test the interpreted feeder structures. The Kamma program is funded within Blossom’s existing 24-month budget, and results will guide 2027 drilling decisions. Exploration at Kamma is being advanced in parallel with the Company’s ongoing work at Rosebud.

Figure 1 – Map showing the first vertical derivative of the aeromagnetic survey Blossom Gold performed of the Kamma claims in early 2026

Source: Blossom Gold Inc.

A variety of magnetic anomalies were drilled to characterize depth of alluvial cover, lithology, hydrothermal alteration, and presence of mineralization. KM26-003 is associated with a pronounced magnetic low trending NNE for approximately 1,000 meters on the property, that is associated with a range-bounding fault that is parallel to mineralized faults at the Hycroft Mine approximately 3.5 miles to the north.

Figure 2 – Section view of KM26-003 looking north showing gold grades intercepted

Source: Blossom Gold Inc.

Several gold anomalies associated with hydrothermal alteration of the host dacite were intercepted throughout the hole, with the strongest anomaly occurring immediately below the alluvial cover-bedrock contact at a depth of only 80 feet (~25 meters). The presence of these anomalies suggests that the range-bounding fault hosts a gold-bearing hydrothermal system in a similar structural setting to Hycroft Mine 3.5 miles to the north.

About Blossom Gold Inc.

Blossom is a Canadian-based precious metals exploration and development company that recently began trading on the TSX under the symbol BGAU. Blossom acquired the Rosebud Project in connection with the TSX-listing and will be focused on the exploration and development of the project. The Rosebud Project includes the former Rosebud Mine, where mining was conducted from 1997 through 2000 by the Rosebud Mining Company, a Newmont-Hecla joint venture, using underground mining methods where the mine operated at a cut-off grade of approximately 0.2 opt Au (6.8 gAu/t), when gold prices ranged from US$250 to US$350/oz; with mined material truck-hauled approximately 120 miles to an existing Newmont oxide mill for processing.

The current vision for the Rosebud Project is to evaluate the remaining higher-grade mineralization and the surrounding larger volume of lower grade mineralization as a potential open pit mining operation with on-site, heap-leach processing and recovery of gold and silver. The Rosebud Project currently hosts an Inferred Mineral Resource of 70.755 million tons grading 0.62gAu/t (0.018opt Au) and 6.49gAg/t (0.189opt Ag) for 1.28 million ounces of gold and 13.4 million ounces of silver. The mineral resource estimate was open pit constrained using long term gold and silver prices of US$2,500 and US$35 per ounce respectively. The deposit is open in all directions.

Further details on Blossom and the Rosebud Project, including the technical report titled “Mineral Resource Estimate for the Rosebud Property, Pershing County, NV, USA” by Northern Lights Mining LLC, with a report date of December 17, 2025 and an effective date of November 1, 2025, can be found under the Company’s profile on SEDAR+ at www.sedarplus.com and the Company’s website at www.blossomgold.com.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Dino Titaro, P.Geo., a Director of Blossom who is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Quality Assurance/Quality Control (QA/QC)

Core from the field is logged, photographed and cut with halved drill core samples bagged and sealed for pick-up by MSALABS in Elko, Nevada for preparation and analysis. MSALABS is accredited to ISO 17025 standards for gold and silver assays. All analytical methods include quality control standards and blanks inserted at set frequencies. The entire sample interval is crushed and homogenized with 500 g of the homogenized sample pulverized for photon assay of gold and silver (detection limits: 0.025 g/t Au and 3.7 g/t Ag). Every five holes the photon results are confirmed by complete chemical analysis at MSALABS in Vancouver to provide QA/QC checks on the photon assays as well as provide full chemical analysis of the sample. QA/QC checks consist of gold fire assay of a 50 g sample followed by ICP-ES finish, and aqua regia digestion of a 40 g sample followed by ICP-ES and ICP-MS for analysis of silver (detection limit: 0.05 g/t) and gold-pathfinder element concentrations.

For further information, please contact:

Brandon Throop
Vice President, Corporate Development & Investor Relations
Direct: 1-647-646-7824
Email: bthroop@blossomgold.com

Cautionary Statement on Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements other than statements of historical facts included in this news release constitute forward-looking information, including but not limited to statements regarding the Company’s plans, prospects and business strategies, including its senior leadership team, its core drilling program and advancing the Rosebud Project, permitting and commencing construction, and its vision regarding the Rosebud Project. Terminology such as “plan”, “expect”, “schedule”, “estimate”, “forecast”, “intend”, “anticipate”, “believe”, “may” or “will” and similar expressions identify forward-looking information. By identifying such information in this manner, Blossom is alerting the reader that such information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Blossom to be materially different from those expressed or implied by such information. In addition, in connection with the forward-looking information contained in this news release, Blossom has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the inability of Blossom to achieve any one or more of the key catalysts on the timeline expected, or at all, and any changes in the development of the business of Blossom, as well as those risk factors more generally set out in Blossom’s AIF, which is available under Blossom’s profile on SEDAR+ at www.sedarplus.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein. Although Blossom believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information are reasonable, undue reliance should not be placed on such information, and no assurance or guarantee can be given that such forward-looking information will prove to be accurate. The forward-looking information contained in this news release is provided as of the date of this news release, and Blossom does not undertake to update any forward-looking information that is contained or referenced herein, except in accordance with applicable Canadian securities laws.

Portillo’s famous cake collides with milk’s favorite cookie for three new creations – the OREO Shake, OREO Cake and OREO Cake Shake

CHICAGO, Oct. 06, 2026 (GLOBE NEWSWIRE) — Portillo’s fans know the brand’s famous chocolate cake and cake shakes are simply out of this world. Now, as spooky season gets into full swing, Portillo’s is teaming up with the OREO brand to introduce a trio of new treats: the OREO Shake, OREO Cake and OREO Cake Shake. Available nationwide for a limited time starting October 6, this iconic collaboration gives guests even more flavor-packed menu items to complete their favorite Portillo’s meal.

“At Portillo’s, innovation starts with understanding what our guests love, and amplifying it,” said Denise Lauer, Chief Marketing Officer of Portillo’s. “That’s why we’ve reimagined our dessert lineup with three distinctive offerings that bring together the rich flavors of our famous cake and shakes with the unmistakable taste of OREO cookies. We’re excited to introduce an iconic pairing that is both playful and perfectly indulgent, just in time for the Halloween season.”

Portillo’s has built a loyal following around its desserts, with the brand’s beloved chocolate cake becoming one of the most talked-about items on the menu – the kind of treat guests build entire orders around. This new collaboration featuring OREO cookies gives fans three new ways to experience that spirit of indulgence:

• OREO Shake: Portillo’s creamy hand-spun vanilla shake, loaded with crushed OREO cookie pieces in every sip.
• OREO Cake: A delicate, moist white cake mixed with crushed OREO cookie pieces, iced with sweet OREO frosting and topped with OREO cookie pieces.
• OREO Cake Shake: A creamy hand-spun vanilla shake mixed with OREO Cake and topped with crushed OREO cookie pieces.

The OREO Cake Shake draws its roots from one of Portillo’s signature creations: the original Chocolate Cake Shake, born from a simple idea – blend the brand’s famous cake right into a creamy shake. That creative twist quickly became a guest favorite in its own right, and decades later, the same spirit of invention shaped this collaboration, giving fans three brand-new ways to enjoy Portillo’s cake with one of the world’s most beloved cookies.

“The OREO brand has always been about turning a delicious cookie into something people build memories around, and this collaboration with Portillo’s does exactly that,” said Matt Foley, Vice President, OREO. “Bringing our cookie into Portillo’s famous cake, in three different ways, gives fans a fresh, playful way to enjoy OREO cookies beyond the pack.”

Portillo’s is also offering members of its Portillo’s Perks loyalty program a hauntingly delicious limited-time deal. From October 12-18, Perks members can enjoy a $1 slice of OREO Cake with a purchase of $5 or more.*

The OREO Shake, OREO Cake and OREO Cake Shake are available nationwide at Portillo’s locations beginning October 6, 2026, while supplies last. For more information, to find your nearest restaurant, or to place an order, please visit portillos.com or follow Portillo’s on Facebook, X, Instagram, and TikTok.

*Limit of one (1) discounted cake slice per qualifying transaction. Additional terms and exclusions apply. See offer for details.

About Portillo’s
Portillo’s (NASDAQ: PTLO) is a one-of-a-kind brand that has grown from a small hot dog trailer in Chicago to more than 100 restaurants across 11 states. Known for its unique menu of delicious Italian beef sandwiches, Chicago-style hot dogs, char-broiled burgers, fresh salads and iconic chocolate cake, Portillo’s is beloved in both its home of Chicagoland and across new and growing markets. Portillo’s operates a company-owned model of not just restaurants – but experience-focused destinations that blend dine-in, drive-thru, takeout and delivery to serve guests with the food they love. And now, after six decades of success and counting, Portillo’s is on a mission to bring its unbeatable food and unforgettable dining experience to guests across the country.

Guests can join Portillo’s Perks, the brand’s loyalty program, at Portillos.com/perks to earn and redeem rewards. Every visit brings fans closer to exclusive perks, badges and surprise offers. Fans can also download the Portillo’s App for iOS or Android or visit Portillo’s website to order ahead for pickup or delivery and get the best dill on these bun-believable Chicago-style favorites and more. Plus, Portillo’s ships its iconic food to all 50 states via its website.

About OREO Cookies
OREO® is AMERICA’S FAVORITE COOKIE®, available in more than 100 countries around the globe. Over 60 billion OREO® cookies are sold each year with more than 20 billion of those cookies sold in the U.S. annually. An estimated 500 billion OREO® cookies have been sold since the first OREO® biscuit was developed in 1912. For more information, follow OREO® on Facebook @OREOUnitedStates, Twitter/X @OREO, TikTok @OREO, and Instagram @OREO.  

About Mondelēz International
Mondelēz International, Inc. (Nasdaq: MDLZ) empowers people to snack right in over 150 countries around the world. With 2025 net revenues of approximately $38.5 billion, MDLZ is leading the future of snacking with iconic global and local brands such as OREO, RITZ, LU, CLIF BAR and TATE’S BAKE SHOP biscuits and baked snacks, as well as CADBURY DAIRY MILK, MILKA and TOBLERONE chocolate. Mondelēz International is a proud member of the Dow Jones Best-in-Class North America and World Indices, formerly Dow Jones Sustainability Indices. Visit www.mondelezinternational.com or follow the company on X at x.com/MDLZ.

Media Contact:
ICR, Inc.
PortillosPR@icrinc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/abfb9109-2590-428b-8b56-2d0747b532d4

30 metres at 1,853 ppm MREO and shallow auger profiles above 2,100 ppm MREO; detailed SGS bench-scale metallurgy advances the next milestone

SINGAPORE, Oct. 06, 2026 (GLOBE NEWSWIRE) — Verde AgriTech Ltd. (TSX: NPK | OTCQX: VNPKF) (“Verde”) reports broad, from-surface magnet and heavy rare earth intersections at Minas Americas Global Alliance (“Minas Americas”), Brazil, held through Magnes Rare Earths (“Magnes”), Verde’s subsidiary. Results include 30 metres at 1,853 ppm magnet rare earth oxides (MREO) in reverse-circulation (RC) drilling and shallow auger profiles above 2,100 ppm MREO, ahead of the forthcoming SGS bench-scale metallurgical results.

Highlights

30 metres of magnet-rich material from surface. MAV_RC_0063 returned 30 metres at 1,853 ppm MREO, including 60 ppm dysprosium–terbium oxides (DyTb), with 270 ppm heavy rare earth oxides (HREO).

Long RC intersections and higher-grade internal intervals. MAV_RC_0001 returned 53 metres from surface at 1,242 ppm MREO, including 30 metres at 1,950 ppm MREO. A selected 5-metre interval in MAV_RC_0054 returned 3,310 ppm MREO and 90 ppm DyTb.

Shallow auger profiles combine magnet and heavy rare earth grades. MAV_AD_0691 returned 8 metres from surface at 2,194 ppm MREO. MAV_AD_0639 returned 11 metres from surface at 2,179 ppm MREO and 335 ppm HREO.

SGS bench-scale metallurgy is the next catalyst. SGS tested seven geological samples from four auger holes, plus a quality-control duplicate, tracking rare earths through leach liquor, two wash stages and residue. Results are expected following technical review.

A growing exploration dataset. This update covers 50 additional RC holes and 822 cumulative auger profiles, including earlier results. The combined assay compilation covers 879 holes. The release’s drilling-record population totals 1,191 holes and 12,640.6 recorded metres.

“What stands out is the combination of broad intervals beginning at surface and the magnet and heavy rare-earth mix within them,” said Cristiano Veloso, Founder and Chief Executive Officer of Magnes. “This expanding dataset strengthens our exploration foundation, with SGS metallurgical results as the next important milestone.”

Broad RC intersections beginning at surface

MAV_RC_0063 combines a 30-metre from-surface interval with 1,853 ppm MREO, including 1,792 ppm neodymium–praseodymium oxides (NdPr), and 270 ppm HREO. MAV_RC_0001 provides a longer, 53-metre surface profile, including a 30-metre interval at 1,950 ppm MREO. Within MAV_RC_0054’s 27-metre surface profile, the selected 9–14 metre interval returned 3,310 ppm MREO, including 90 ppm DyTb.

Table 1. Selected RC intervals

Hole	From (m)	To (m)	Len. (m)	MREO (ppm)	NdPr (ppm)	DyTb (ppm)	HREO (ppm)	TREO (ppm)
RC0063	0	30	30	1,853	1,792	60	270	7,787
RC0001	0	53	53	1,242	1,202	39	163	5,363
RC0001	23	53	30	1,950	1,891	59	233	8,201
RC0001	34	44	10	2,358	2,286	72	273	9,721
RC0036	0	12	12	1,566	1,513	53	258	6,859
RC0054	0	27	27	1,439	1,396	43	203	5,889
RC0070	29	34	5	1,631	1,557	74	420	6,949
RC0054	9	14	5	3,310	3,220	90	370	10,719

Shorter intervals within a longer interval are included in that interval and are not additional metres. Lengths are downhole intervals, not established true widths. Results are head grades, not recovered grades. MREO and HREO overlap through DyTb and must not be added together.

Shallow auger results reinforce the rare-earth mix

The auger programme complements the longer RC intersections with shallow profiles beginning at surface. MAV_AD_0691 returned 8 metres at 2,194 ppm MREO, including 2,122 ppm NdPr and 72 ppm DyTb. MAV_AD_0639 returned 11 metres at 2,179 ppm MREO, including 2,108 ppm NdPr, 72 ppm DyTb and 335 ppm HREO.

Table 2. Selected cumulative auger intervals from surface

Hole	From (m)	To (m)	Len. (m)	MREO (ppm)	NdPr (ppm)	DyTb (ppm)	HREO (ppm)	TREO (ppm)
AD0691	0	8	8	2,194	2,122	72	324	8,780
AD0884	0	6	6	2,075	2,015	59	251	8,202
AD0839	0	6	6	1,946	1,888	58	254	8,133
AD0639	0	11	11	2,179	2,108	72	335	8,079
AD0868	0	11	11	1,799	1,739	60	279	7,291
AD0512	0	9	9	1,320	1,251	69	360	5,226

All intervals in Table 2 are complete from-surface profiles selected from the cumulative auger dataset, not a separate cohort of newly reported holes. Grades are length-weighted oxide equivalents; rounding can cause component totals to differ from the displayed sum.

Why magnet and heavy rare earths matter

Permanent magnets account for around 95% of rare-earth consumption by value, according to the International Energy Agency.[1] NdPr is the principal rare-earth component in these magnets; Dy and Tb can improve performance at elevated temperatures. These elements support applications including industrial motors, robotics, aerospace and defence.

For investors, the rare-earth mix is an important part of the exploration story. Verde therefore presents MREO, NdPr, DyTb and HREO alongside TREO, rather than relying on total grade alone. At Minas Americas, the combination of broad, shallow intersections and evidence of selective diagnostic leaching provides a basis for the next stage of exploration and process testing. Commercial significance will depend on recovery into a saleable product, impurities, reagent requirements and processing costs; it cannot be determined from head grades or industry consumption values alone.

Drilling scale and reporting progress

Through 25 September 2026, the drilling records included in this release comprise 7,304.6 metres in 1,020 auger holes and 5,336 metres in 171 RC holes, totalling 12,640.6 recorded metres. This reporting population is distinct from the gross physical drilling programme.

Assayed metres are reported separately.

Reporting progress at the 25 September cutoff

Scope	Auger holes	RC holes	Total holes	Metres
Previously reported through 8 Sep	436	7	443	3,628.8 assayed
Covered by this update	822	50 new	872	7,196.8 assayed
Combined assay compilation	822	57	879	7,468.8 assayed
Drilling records in this release	1,020	171	1,191	12,640.6 recorded

The 50 additional RC holes comprise 39 complete holes with 1,123 assayed metres and available intervals totalling 144 metres in 11 partial holes. The 822 auger profiles are cumulative, not all newly reported: 793 complete profiles cover 5,776.8 metres and available intervals in 29 partial profiles cover 153 metres.

The separate Minas Americas Drill Hole and Assay Results Annex, dated 3 October 2026, contains complete and partial results and collar records. It is intended for publication alongside this release at https://magnesrareearths.com/evidence, not appended here. Selected intervals in this release do not represent every hole or all grades.

Source [1]: International Energy Agency, Rare Earth Elements, Executive Summary (2026): https://www.iea.org/reports/rare-earth-elements/executive-summary

Figure 1. Selected RC and cumulative auger drilling intervals from surface. MREO and HREO overlap and must not be added. Source data cutoff: 25 September 2026.

SGS bench-scale metallurgy — from screening to process development

Building on the earlier diagnostic results, Magnes engaged SGS Geosol for a more comprehensive bench-scale metallurgical programme. Initial testing covered seven geological samples from four auger holes in different parts of Minas Americas, plus a duplicate leach of one sample for a quality-control comparison of test repeatability. The duplicate is not an additional geological sample or location. This sample set is distinct from the five diagnostic intervals described below.

A structured examination of the leach, wash and residue streams. SGS prepared and homogenised the samples and characterised their particle-size fractions before testing approximately 40 grams of minus-2 mm material with 0.5 M ammonium sulphate for 30 minutes at ambient temperature. The programme used mechanical agitation, with pH monitored and adjusted around a target of 4.2, followed by vacuum filtration and two separately analysed wash stages. Feed, collected leach liquor, each wash and solid residue were assayed for metallurgical balances and impurity assessment. Acid additions, filtration times and collected liquor volumes were recorded. Follow-up tests examined pH and reagent conditions on one sample.

Why this goes beyond diagnostic screening. The earlier ICM694 screening certificates report initial and final pH, but do not document the same time-resolved pH monitoring and adjustment or separately analysed process-stream balances. Those diagnostic results do not establish optimised pH, agitation or washing conditions. Because the programmes used different samples and preparation conditions, they are not a before-and-after demonstration of improved recovery.

The next milestone connects exploration grades with process-development decisions. The bench work examines how much rare earth content enters the collected liquid streams, how much remains in the solids and which impurities follow it. Together with reagent and filtration records, this is intended to guide subsequent work on extraction selectivity, reagent requirements and solid–liquid separation—not simply add another set of head-grade assays.

Verde expects to announce the bench-scale metallurgical results following reconciliation and technical review. No numerical results from that bench programme are disclosed in this release, and no commercial recovery or optimised flowsheet is established.

“Our next milestone is the SGS bench-scale results,” said Veloso. “The initial diagnostic tests showed magnet and heavy rare earths becoming more prominent in the dissolved rare-earth mix. The bench programme examines how much enters the leach and wash streams, how much remains in the residue and which impurities follow it. That information will guide the next stage of process development.”

Earlier SGS screening increased the share of magnet and heavy rare earths in solution

The earlier diagnostic leach screening tested how readily rare earths entered solution under a defined chemical treatment. The comparison comprised five sample intervals: four channel intervals collected in 2025 from PT-34, PT-36 and PT-42, and one later 2–3 metre auger interval from MAV_AD_0002. SGS used its ICM694 method, applying 0.5 M ammonium sulphate at an initial pH of 4, with a 30-minute leach.

Heavy rare earths more than doubled their share of the rare-earth mix after diagnostic leaching. HREO accounted for 3.0–4.1% of the original samples’ rare-earth content and 6.6–12.1% of the dissolved mix. Across the five paired tests, their share was 2.1–3.3 times the original sample’s share. MREO increased from 22.2–26.3% of the original rare-earth content to 41.6–48.1% of the dissolved mix, or 1.6–1.9 times its original share. These are comparisons of composition, not extraction recovery.

Table 3. Five earlier SGS diagnostic intervals

Interval	MREO mg/kg	HREO mg/kg	DREO mg/kg	MREO share head →leach	HREO share head →leach	HREO multiple
PT-34 0–1 m	161	36	384	23.7% → 41.9%	3.3% → 9.3%	2.81×
PT-34 1–2 m	240	63	578	25.3% → 41.6%	4.1% → 10.9%	2.68×
PT-36 0–1 m	278	44	667	22.2% → 41.6%	3.0% → 6.6%	2.20×
PT-42 0–1 m	167	31	383	23.8% → 43.6%	3.9% → 8.2%	2.09×
AD0002 2–3 m	237	60	492	26.3% → 48.1%	3.6% → 12.1%	3.34×

Quantities are desorbed oxide equivalents on the laboratory mg/kg reporting basis. Shares use unrounded totals. PT-34 0–1 m DREO is 384 mg/kg using half detection limits, versus 383 mg/kg previously displayed. HREO includes Y; MREO and HREO overlap.

The auger interval illustrates the selective response: MREO increased from 26.3% to 48.1% of the rare-earth mix, while HREO increased from 3.6% to 12.1%. DyTb increased from 0.94% to 2.08%. This greater representation of magnet and heavy rare earths in the dissolved suite is the starting point for the more detailed metallurgical work.

Shares are calculated against head TREO before leaching and total desorbable rare earth oxides (DREO) afterwards. They are not increases in absolute solution concentration. HREO includes yttrium as well as heavy lanthanides and is not synonymous with DyTb. These selected diagnostic tests were not an optimised flowsheet or a project-wide metallurgical estimate.

Figure 2. Original-sample and dissolved-mix composition in five selected SGS diagnostic tests. This is a comparison of composition, not extraction recovery.

Technical basis and reporting definitions

Geological setting and sampling. Minas Americas is an exploration-stage, clay-hosted rare-earth project in Minas Gerais, Brazil. Earlier diagnostic tests indicated ionic adsorption behaviour. RC and auger sampling used nominal one-metre intervals; the source records show vertical holes (dip −90°; azimuth not applicable). Source collar coordinates use SIRGAS 2000 / UTM Zone 23S. Depths, sample coverage and provisional source-field collars are tabulated in the annex. True widths and continuity between holes are not established.

Analytical laboratory and methods. Samples were analysed by the third-party laboratory SGS Geosol Laboratórios S.A., Vespasiano, Minas Gerais, Brazil. Drilling assay certificates reviewed for this update specify lithium-metaborate fusion followed by ICP-MS (IMS95A) and ICP-OES (ICP95A). SGS Geosol publishes ISO 9001:2015 certification and ISO/IEC 17025:2017 accreditation CRL 0386. Accreditation is scope-specific; this statement does not establish that every method used here is within the accredited scope.

Calculations and quality controls. The analytical programme includes blanks, certified reference materials and duplicates; these controls are excluded from geological composites. Grades are length-weighted oxide equivalents in ppm, equivalent to grams per tonne. No grade cutoff is applied to full-hole composites. Partial composites cover only available contiguous assays, not unassayed gaps. Values below detection limits are assigned half the limit; over-limit results are lower bounds, shown with “≥”, not exact grades.

Oxide groups. MREO is the sum of Nd, Pr, Dy and Tb oxides. NdPr and DyTb are their respective oxide pairs. HREO is the sum of Y, Dy, Tb, Ho, Er, Tm, Yb and Lu oxides. TREO includes the oxides of the lanthanides other than promethium, plus yttrium, and excludes scandium. DREO is the corresponding total reported after diagnostic desorption. DyTb is included in both MREO and HREO, so those groups are not additive.

Qualified Person

Carlos Leite, MAusIMM CP(Geo) (No. 1006695), an independent consultant to Magnes Rare Earths, is the Qualified Person identified for technical review of this proposed release under National Instrument 43-101 — Standards of Disclosure for Mineral Projects. This proposed release and its accompanying annex remain subject to his review and approval of the exact versions.

About Verde AgriTech and Magnes Rare Earths

Verde AgriTech Ltd. trades on the TSX as NPK and on OTCQX as VNPKF. Magnes Rare Earths, Verde’s subsidiary, is advancing the exploration-stage Minas Americas rare-earth project in Minas Gerais, Brazil. The listed shares referenced in this release are Verde AgriTech shares.

The exploration and diagnostic results described here do not establish a mineral resource, mineral reserve, commercial recovery or economic assessment.

For Additional Information:

Email: investor@verde.ag

Verde investor information: https://investor.verde.ag

Magnes project and company information: https://www.magnesrareearths.com

Cautionary statement regarding forward-looking information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including statements concerning the expected announcement of SGS bench-scale metallurgical results, further exploration and process development, publication of the companion assay annex, and the potential significance of the reported magnet and heavy rare earth results. Words such as “expects”, “will”, “potential”, “next” and similar expressions may identify forward-looking information.

This information reflects management’s expectations as of the release date and assumes that laboratory results and balances can be reconciled, technical review and required approvals can be completed, suitable samples and sufficient funding and personnel will be available, and further work can proceed under applicable permits and regulatory requirements. These assumptions may prove incorrect.

Actual results, timing and outcomes may differ materially because of geological and sampling variability, assay or metallurgical uncertainty, limitations in the representativeness of samples, recovery and impurity challenges, reagent consumption and processing costs, laboratory or review delays, permitting constraints, changes in rare-earth markets, financing availability and other risks described in Verde’s current public disclosure filings available on SEDAR+ at https://www.sedarplus.ca. Exploration grades and selective diagnostic leaching do not establish economic viability or recovery into a saleable product.

Readers should not place undue reliance on forward-looking information. Verde undertakes no obligation to update it except as required by applicable securities laws.

Photos accompanying this announcement are available at 

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