Aero Energy Limited announced a non-brokered private placement to issue non flow-through units at a price of CAD 0.15 per per NFT unit, to issue flow-through units at a price of CAD 0.175 per per FT unit and to issue flow-through charity units at a price of CAD 0.2275 per charity flow-through unit for the aggregate gross proceeds of CAD 5,000,000 on February 13, 2024. Each NFT unit will be comprised of one non-flow-through common share and one-half of one share purchase warrant. Each FT unit and Charity unit will be comprised of one flow-through common share and one-half of one warrant.

The warrants will have the same terms, with each whole warrant entitling the holder thereof to purchase one share for a period of two years at a price of CAD 0.25. The exact number of NFT units, FT units and Charity units sold will be determined at closing of the offering. Eventus Capital Corp.

will act as a finder in connection with the offering. All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the offering and the payment of any finders?

fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.