Dune Oil Corp. Adopts OTCQB Symbol DUNXF, Closes CAD$252,500 Financing Tranche

Dune Oil Corp. has moved its US quotation to a new OTCQB symbol, DUNXF, effective September 14, 2026, an administrative change that leaves its Canadian Securities Exchange (CSE) and Frankfurt listings, corporate structure, and shareholder holdings unaffected. Separately, the company closed an additional tranche of its non-brokered private placement for gross proceeds of approximately CAD$252,500, comprising units priced at CAD$0.25 and 153,333 units issued to settle CAD$220,000 of outstanding debt with an arm's-length party. Each unit includes one common share and one-half of a warrant, with whole warrants exercisable at CAD$0.25 for one year. The securities carry hold periods until December 26, 2026 and January 15, 2027, and the tranche remains subject to CSE approval. Proceeds are earmarked for the company's M47 oil exploration block work program, investor relations activities, and general working capital, and management will present the project at the ArcStone-Kingswood Growth Summit in Toronto on September 16, 2026.

Company Overview 

Dune Oil Corp. (CSE: DUNE | OTCQB: DUNXF | FRA: Z62) is a Canadian oil exploration company focused on Türkiye. The company has an agreement to earn up to a 29% working interest in the M47 oil exploration block, comprising the C3 and C4 licenses in the Cudi-Gabar petroleum province of southeastern Türkiye. The earn-in includes funding totaling US$15 million for work commitments in 2026 and 2027. More information is available on SEDAR+ and at www.duneoil.ca.

OTCQB Symbol Changes to DUNXF

Effective September 14, 2026, Dune's common shares began trading on the OTCQB market under the new symbol DUNXF. The company's CSE symbol (DUNE) and Frankfurt symbol (Z62) are unaffected by the change. Dune stated that the switch is purely administrative: it does not alter the company's name, business, or corporate structure, requires no action from shareholders, and does not require existing share certificates to be exchanged.

Private Placement Tranche Closes

Dune closed an additional tranche under its previously announced non-brokered private placement, generating gross proceeds of approximately CAD$252,500. The tranche consisted of units sold at CAD$0.25 per unit, together with the settlement of CAD$220,000 in outstanding debt owed to an arm's-length party through the issuance of 153,333 units. Each unit is made up of one common share and one half of one share purchase warrant, with each whole warrant exercisable at CAD$0.25 per share for one year from the date of issuance.

The securities issued under this tranche are subject to hold periods expiring December 26, 2026 and January 15, 2027, in line with applicable securities laws and CSE policy, and the offering remains subject to CSE approval. Dune said proceeds will fund its ongoing work program on the M47 oil exploration block, investor relations activities, and general working capital and corporate purposes.

ArcStone-Kingswood Growth Summit Participation

Dune will take part in the 3rd Annual ArcStone-Kingswood Growth Summit in Toronto on September 16, 2026. Management is scheduled to discuss the M47 oil exploration project, upcoming milestones, and growth strategy, as well as hold one-on-one investor meetings.

Next Steps

CSE approval of the private placement tranche remains outstanding. The hold periods on the tranche's securities expire on December 26, 2026, and January 15, 2027. Management will present at the ArcStone-Kingswood Growth Summit in Toronto on September 16, 2026.