Hertz Energy Appoints New Directors

01:06 Uhr  |  Newsfile

Vancouver, May 15, 2026 - Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: A340) ("Hertz Energy" or the "Company") is pleased to announce the appointment of Desmond Balakrishnan and Jean Lafleur to the Company's Board of Directors.

Desmond Balakrishnan is a lawyer practicing in the areas of Corporate Finance and Securities, Mergers and Acquisitions, Lending, Private Equity, Natural Resource, and Gaming and Entertainment for McMillan LLP, where he has been a partner since 2004. He acted as counsel to companies with respect to debt, equity financings, strategic acquisitions, corporate governance, regulatory compliance, public listings on the Canadian Securities Exchange, the TSX Venture Exchange, the Toronto Stock Exchange, Nasdaq and the New York Stock Exchange. Mr. Balakrishnan has been lead counsel on over $5 billion in financing transactions and in mergers and acquisitions aggregating more than $10 billion. He also serves as a director and/or officer of several resource, finance and investment issuers.

Mr. Balakrishnan graduated from Simon Fraser University with a Bachelor of Arts degree in 1994 and from the University of Alberta in 1997 with an LL.B (with distinction). Mr. Balakrishnan was called to the bar in British Columbia in 1998. Mr. Balakrishnan is a member of the Vancouver Bar Association, the Canadian Bar Association and the International Masters of Gaming Law.

Jean Lafleur is a Professional Geologist (Québec) with 45 years of experience in Canada and internationally including USA, Mexico, Latin America, Ireland, Spain and Africa. Earlier in his career he worked with Newmont, Falconbridge, Dome Mines, and Placer Dome and has been a C-suite executive for a number of junior exploration companies. Jean has remained active as a technical, management, and financing consultant with junior explorers since the early 2000's through his own geological consultancy firm and throughout his career has led a number of teams in the discovery of precious and base metals, nickel, PGE's, uranium, and iron deposits. Jean's expertise includes mining company and project evaluations, audits, technical reporting, exploration program planning and execution, and research and development with a strong focus on Québec. Jean currently acts as a Senior Consultant, North America for Appian Capital Advisory LLP, a mining-focused private equity firm based in London, UK where through his extensive professional network he sources and presents potential mining transactions in North America to the Appian team for investment opportunities.

Kal Malhi, CEO of Hertz Energy Inc., comments, "As we move to aggressively explore our Lake George Antimony Project and look forward to a decision by the Province of New Brunswick on the Historical Lake George Mine, we welcome Mr. Lafleur and his decades of mining industry experience and capital markets contacts. Mr. Balakrishnan is a highly experienced and respected junior capital markets counsel and brings decades of experience in structuring mineral industry financings, corporate governance, capital raises and regulatory market experience. Hertz is pleased to have both gentlemen join the team at a crucial period for Hertz at Lake George Antimony and our Craig Silver project."

The Company has granted, subject to regulatory approval 828,467 share options to directors of the Company. The options are exercisable for a period of 3 years from the date of grant at the price of $0.35 per share. The options are granted in accordance with the Company's stock option plan.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding "Forward-Looking" Information

This news release includes certain statements that may be deemed "forward-looking statements". Forward-looking statements in this news release include but are not limited to, statements about the Offering and the Company's expectations with respect to the foregoing. Factors that could cause future results to differ materially from those anticipated in forward-looking statements in this news release include the tax treatment of the FT Shares. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "Deposits", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, political and regulatory risks associated with mining and exploration, risks related to environmental regulation and liability. the potential for delays in exploration or development activities or the completion of feasibility studies, risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits, risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, results of prefeasibility and feasibility studies, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those Deposited in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297736