Mercer Park Opportunities Corp. Announces Proposed Extension to Facilitate the Completion of a Qualifying Acquisition

TORONTO, March 16, 2026 /CNW/ - Mercer Park Opportunities Corp. (the "Corporation"), a special purpose acquisition company which has entered into a definitive transaction agreement to acquire Cube Group, Inc. (the "Cube Transaction"), a cryptocurrency trading platform, announced today that it is seeking a brief extension to its permitted timeline, from April 22, 2026 to up to August 22, 2026, to enable a qualifying acquisition to be completed (the "Proposed Extension").

A special meeting of the holders of class A restricted voting shares of the Corporation (the "Class A Restricted Voting Shares") is scheduled to be held on April 14, 2026 at 10:00 am (Toronto time) at the offices of Carey Olsen at Pavilion East, Cricket Square, George Town, Grand Cayman, KY1-1001, Cayman Islands. In connection with the meeting, holders of Class A Restricted Voting Shares are being provided with the opportunity to deposit for redemption all or a portion of their Class A Restricted Voting Shares, irrespective of whether such holders vote for or against, or do not vote on, the extension resolution, provided that they deposit (and do not validly withdraw) their Class A Restricted Voting Shares for redemption prior to 5:00 p.m. (Toronto time) on April 7, 2026, which is the fifth business day before the date of the meeting. Holders of Class A Restricted Voting Shares who have deposited their Class A Restricted Voting Shares for redemption may withdraw all or a portion of such Class A Restricted Voting Shares from deposit for redemption at any time prior to 5:00 p.m. (Toronto time) on April 21, 2026.

If the Proposed Extension is approved and the extension is made effective, following the redemption, Mercer Park III, LP or an affiliate thereof ("Mercer LP") will deposit into the Corporation's escrow account an amount equal to US$0.025 per non-redeemed Class Restricted Voting Share for each month, commencing on April 22, 2026 and ending on August 22, 2026 (up to a cap of US$60,000 per month or US$240,000 in aggregate). Despite the foregoing, at any time, Mercer LP may accelerate the expiry date and proceed to redeem all remaining Class A Restricted Voting Shares, in which case no further amounts would be added thereafter.

The Corporation has finalized its determination of the redemption amount per share to take into account the latest information available to it. The Corporation estimates that the amount is approximately US$10.685 per Class A Restricted Voting Share, as set out in the Corporation's management information circular dated March 13, 2026 (the "Circular").

If the Proposed Extension is approved and the extension is made effective by the board of directors of the Corporation (the "Board") (which effectiveness would be announced by Corporation at that time) the Corporation shall (a) redeem those Class A Restricted Voting Shares that are deposited (and not validly withdrawn) for redemption, and (b) deliver to each such holder its pro rata portion of the escrow funds available in the Corporation's escrow account less certain specified costs. The remainder of the escrow funds shall remain in the escrow account and be available for use by the Corporation to complete a proposed qualifying acquisition on or before August 22, 2026.

Holders of Class A Restricted Voting Shares who do not redeem their Class A Restricted Voting Shares will retain their redemption rights.

If the Proposed Extension is not approved and closing has not occurred by April 22, 2026, then, subject to applicable laws, each Class A Restricted Voting Share will be redeemed for its pro rata portion of the escrow funds available in the Corporation's escrow account less certain specified amounts.

The Board may revoke the extension resolution without further approval of the holders of Class A Restricted Voting Shares at any time prior to the extension becoming effective in the event that the Board determines not to proceed with the extension.

The record date for the determination of registered holders of Class A Restricted Voting Shares of the Corporation entitled to receive notice of, and to vote at, the meeting is the close of business on February 27, 2026 (the "Record Date"). Only holders of Class A Restricted Voting Shares as of the close of business on the Record Date will be entitled to receive notice of, and to vote their shares at, the meeting.

The Circular being sent to shareholders contains a detailed description of the extension and other information relating to the Corporation. We urge you to consider carefully all of the information in the Circular. Shareholders who have any questions or need additional information with respect to the voting of their Class A Restricted Voting Shares should consult their financial, legal, tax or other professional advisors.

About Mercer Park Opportunities Corp.

The Corporation is a special purpose acquisition corporation incorporated under the laws of the Cayman Islands in July, 2024 for the purpose of effecting a qualifying acquisition. For more information about the Corporation, please visit the Corporation's website at https://mercerparkopportunities.com/.

Forward-Looking Statements

This press release may contain forward‐looking information within the meaning of applicable securities legislation and includes statements which reflect the Corporation's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information. Such risks and uncertainties include, but are not limited to, the risk that a qualifying acquisition may not be completed and the potential failure to obtain approval by the holders of Class A Restricted Voting Shares approval for the Proposed Extension, the failure to satisfy the conditions to the consummation of any proposed qualifying transaction, and the factors discussed under "Risk Factors" in the Corporation's final prospectus dated July 17, 2024. The Corporation undertakes no obligation to update such forward‐looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Mercer Park Opportunities Corp.

For further information, please contact: Joshua Snyder, Mercer Park Opportunities Corp., Head of Mergers and Acquisitions, [email protected], 917-819-6685