Global Uranium Corp. Announces Conversion of Convertible Debentures

CALGARY, Alberta, Aug. 21, 2026 (GLOBE NEWSWIRE) -- Global Uranium Corp. (CSE: GURN | OTC: GURFD | FRA: Q3J0) (the "Company") is pleased to announce that the holders of the Company’s outstanding unsecured convertible debentures (the “Debentures”) have elected to convert an aggregate of $670,100 of principal, together with accrued interest, into units of the Company (the “Units”) in accordance with the terms of the Debentures.

The Debentures were issued on July 17, 2026, bear interest at a rate of 10% per annum, and are convertible at a price equal to the five-day volume weighted average price (“VWAP”) of the Company’s common shares at the time of conversion.

Based on the five trading days through August 20, 2026, the conversion price is $0.26571 per Unit.

As of August 21, 2026, approximately $6,425.62 of interest is being converted together with $670,100 of principal, resulting in an aggregate conversion amount of approximately $676,525.62.

Based on the conversion price, and after rounding down fractional Units in accordance with the terms of the Debentures, the Company will issue an aggregate of 2,546,120 Units.

Each Unit consists of one common share of the Company and one common share purchase warrant (a “Warrant”). Following the Company’s recently completed consolidation of its common shares on the basis of one post-consolidation common share for every ten pre-consolidation common shares, the exercise price of the Warrants issuable upon conversion has been proportionately adjusted from $0.065 to $0.65 per post-consolidation common share. Each Warrant will be exercisable to acquire one common share at a price of $0.65 per share for a period of 24 months from the date of issuance.

The issuance of the Units pursuant to the conversion remains subject to the acceptance of the Canadian Securities Exchange.

About Global Uranium Corp.

Global Uranium Corp. is focused on the exploration and development of uranium assets primarily in North America. The Company's portfolio includes the Astro Project in the eastern Athabasca Basin of Saskatchewan, the Airline Project in Wyoming, and additional uranium exploration projects in Wyoming and Saskatchewan.

On Behalf of the Board of Directors

Ungad Chadda
CEO and Director

587-330-0045
info@globaluranium.com

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes statements regarding the conversion of the Debentures, the issuance of the Units, common shares and Warrants, and the acceptance of the Canadian Securities Exchange. Forward-looking information is based on assumptions considered reasonable by management as of the date hereof and is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update forward-looking information except as required by applicable securities laws.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.