(TheNewswire)
Calgary, Alberta – TheNewswire – January 6, 2026 – PureWave HydrogenCorp. 
PWH (the“Corporation”) is providing this default status report in accordancewith National Policy 12-203 Management Cease Trade Orders(“NP 12-203”). This news release constitutes the Corporation’sbi-weekly default status report under NP 12-203. The Corporationpreviously announced on December 19, 2025 (the “Default Announcement”) that it anticipated it would be unable to meet thefiling deadline for the Required Filings. This default status reportis provided to report on developments since the Default Announcementand to satisfy the alternative information guidelines under NP 12-203while the Required Filings remain outstanding.
On January 2, 2026, the Alberta Securities Commission(the “ASC”) granted a temporary management cease trade order (the“MCTO”) restricting trading in securities of the Corporation bythe Director and Interim Chief Executive Officer and Chief FinancialOfficer of the Corporation (the “Management Parties”) until such time as the Corporation has filed theRequired Filings (as defined below) and the ASC has revoked the MCTO.During the period in which the MCTO is effective, the public, who arenot insiders of the Corporation, will continue to be able to trade inthe Corporation’s listed securities.
As previously disclosed, the Corporation was unable tofile its audited financial statements for the year ended August 31,2025, and the management’s discussion and analysis and relatedDirector and Interim Chief Executive Officer and Chief FinancialOfficer certificates for this period (collectively, the“RequiredFilings”) before the December 29, 2025, filingdeadline (the “FilingDeadline”). The default is primarily due todelays in the completion of the audit, resulting from theCorporation’s inability to secure sufficient funding to pay auditfees and related professional costs and the Corporation’s currentfunding shortfall, which has impacted its ability to retain necessaryaudit and financial reporting resources. Since the DefaultAnnouncement, there have been no changes to the information containedin the Default Announcement that would reasonably be expected to bematerial to an investor. The Corporation continues to work with itsauditors to complete the audit and is pursuing financing and otherarrangements intended to fund the completion of the audit and relatedcontinuous disclosure filings. Since the Default Announcement, theCorporation has satisfied its stated intentions with respect tocomplying with the alternative information guidelines under NP 12-203and there have been no failures by the Corporation in fulfilling thoseintentions. Since the Default Announcement, the Corporation hassatisfied its stated intentions with respect to complying with thealternative information guidelines under NP 12-203 and there have beenno failures by the Corporation in fulfilling those intentions.
As of the date of this announcement, the Corporationconfirms that it is not subject to any insolvency proceedings. Otherthan as disclosed above, there is no other material informationconcerning the affairs of the Corporation that has not been generallydisclosed. The Corporation anticipates that it will be in a positionto remedy the default by filing the Required Filings on or beforeFebruary 27, 2026. The MCTO will remain in effect until the ASC hasrevoked the MCTO. The Corporation also confirms that it expects itwill meet other prescribed continuous disclosure filing deadlines thatarise while the Required Filings remain outstanding, and will provideupdates regarding any such anticipated subsequent specified defaultsin accordance with NP 12-203.
The Corporation intends to satisfy the provisions ofthe alternative information guidelines under NP 12-203, including byissuing bi-weekly default status reports in the form of news releasesfor so long as the Required Filings remain outstanding.
NEITHER THE TSX VENTURE EXCHANGE NORITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THEADEQUACY OR ACCURACY OF THIS RELEASE.
For more information, pleasecontact:
Bruce Nurse
Director and Interim Chief Executive Officer
Email: bruce.nurse@purewavehydrogen.com
Phone: +1 (303) 919-2913
Forward Looking Statements
This news release contains forward-looking informationand forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable Canadian securitieslaws. Forward-looking statements are based on management’s currentexpectations and are subject to known and unknown risks,uncertainties, and other factors that may cause actual results todiffer materially. 1. Forward-looking statements in thisnews release include statements regarding: (i) the anticipated timingfor filing the Required Filings; (ii) the anticipated revocation ofthe MCTO; and (iii) the Corporation’s ability to remedy the defaultand comply with its continuous disclosure obligations. 2. The forward-looking statements are based on certain assumptions,including: (i) the Corporation’s ability to obtain sufficientfunding to pay audit fees and related professional costs; (ii) thetimely completion of the audit by the Corporation’s auditors; and(iii) the absence of unanticipated delays or regulatory issuesimpacting the Corporation’s remediation plan. 3. Risksand uncertainties that could cause actual results to differ materiallyinclude: (i) delays in completing the audit and related filings; (ii)the Corporation’s inability to secure necessary financing orresources; (iii) the possibility of additional regulatory actions; and(iv) general economic and market conditions. The Corporationundertakes no obligation to update forward-looking statements exceptas required by applicable securities laws. Readers are cautioned notto place undue reliance on forward-looking statements.
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