Vancouver, British Columbia–(Newsfile Corp. – October 3, 2025) – Penbar Capital Ltd. (TSXV: PEM.P) (the “ Company ” or “ Penbar “), a capital pool company as defined under Policy 2.4 – Capital Pool Companies of the TSX Venture Exchange (the “ TSXV “), is pleased to announce that the Company has received conditional approval from the TSXV with respect to its previously announced Qualifying Transaction (as such term is defined in TSXV Policy 4.2 – Capital Pool Companies (“ Policy 2.4 “) with Eastport Ventures Inc., a private arm’s length Ontario company (“ Eastport “), pursuant to the terms of an amalgamation agreement dated March 14, 2025, as amended and restated on May 26, 2025 (the “ Amalgamation Agreement “) with 1001160772 Ontario Ltd., a newly incorporated wholly-owned

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