Waskahigan Oil & Gas Corp. Provides Corporate Update

CALGARY, AB, March 23, 2026 /CNW/ - Waskahigan Oil & Gas Corp. (CSE: WOGC) ("WOGC" or the  Company") announces the appointment of Ross Ewaniuk as Interim Chief Executive Officer and a director of the Company. Gregory Leia, former Chief Executive Officer continues to serve as a director of the Company along with Tracy Zimmerman, Chief Financial Officer and director, and Gerald Roe, Director. The Company continues to consider opportunities for strategic acquisitions and financing transactions, and to evaluate new business opportunities.

The following news release disclosure is being disseminated as required by National Instrument 62‐103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of Early Warning Reports regarding the acquisition of securities of the Company by each of Ross Ewaniuk ("Ewaniuk") and Jamil Kassam ("Kassam").

Pursuant to a share purchase agreement between Kassam and certain ‎shareholders of the Company dated March 12, 2026, Kassam ‎agreed to purchase 953,100 common shares of the Company (each a "Common Share") at a price of $0.20 per Common Share. On March 23, 2026, 953,100 Common Shares were transferred to Kassam. Prior to the share purchase, Kassam held no securities of the Company. Upon completion of the share purchase, Kassam holds control or direction over a total of 953,100 ‎Common Shares, representing 27.84% of the issued and outstanding Common Shares.

Pursuant to a share purchase agreement between Ewaniuk and certain ‎shareholders of the Company dated March 12, 2026, Ewaniuk ‎agreed to purchase 1,391,550 Common Shares at a price of $0.20 per Common Share. On March 23, 2026, 1,391,550 Common Shares were transferred to Ewaniuk. Prior to the share purchase, Ewaniuk held no securities of the Company. Upon completion of the share purchase, Ewaniuk holds control or direction over a total of 1,391,550 ‎Common Shares, representing 40.65% of the issued and outstanding Common Shares.

The ‎Common Shares were obtained by each of Ewaniuk and Kassam for investment purposes. In the future, each of Ewaniuk and Kassam may directly or indirectly, acquire additional Common Shares or dispose of such Common Shares subject to a number of factors, including, without limitation, general market and economic conditions and other investment and business opportunities available. Ewaniuk and Kassam do not act jointly or in concert and are arm's length to one another.

A copy of the Early Warning Report to be filed by each of Kassam and Ewaniuk will be available on SEDAR+ under the Company's profile on www.sedarplus.ca. For more information, or to obtain a copy of the Early Warning Report, please contact: Ross Ewaniuk or Jamil Kassam, as applicable, at c/o 2700-1133 Melville Street, Vancouver, BC V6E 4E5.

On Behalf of the Board of Directors

Ross Ewaniuk
Interim CEO and Director

This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

SOURCE Waskahigan Oil & Gas Corp.

Ross Ewaniuk, Interim CEO and Director, ‎Email: [email protected]