CAPE TOWN, South Africa, Aug. 5, 2026 /CNW/ -- Hosken Consolidated Investments Limited ("HCI" or the "Company") announced today that on August 4, 2026 it acquired, through its wholly-owned subsidiary Deepkloof Limited ("Deepkloof") 47,000,000 common shares of AEC (the "Shares") at a price of C$0.135 per share for total consideration of US$4,500,000 (approximately C$6.3 million) pursuant to a non-brokered private placement (the "Private Placement").

Immediately prior to the Private Placement,

(a)        HCI, through Deepkloof, beneficially owned and controlled 587,433,220 ordinary shares of Impact Oil
            & Gas Limited ("IOG"), a partially owned subsidiary of Deepkloof, representing approximately 51.57% of 
            the issued and outstanding shares of IOG. IOG in turn beneficially owned and controlled 101,818,554 
            common shares (pre-consolidation, 509,092,771 common shares) of AEC, representing approximately 
            21.25% of the issued and outstanding shares of AEC.

(b)        HCI, through Deepkloof, is a "control person" of AEC, and owned and controlled 176,852,000 common
            shares (pre-consolidation, 884,260,000 common shares) of AEC, representing 36.91% of the issued and
            outstanding shares of AEC.

Under Canadian securities legislation, HCI is considered to beneficially own the common shares of AEC held by IOG. Accordingly, on completion of the Private Placement, HCI, through Deepkloof, acquired (a) direct ownership and control of 223,852,000 common shares of AEC, representing approximately 42.54% of the 526,162,450 issued and outstanding shares of AEC, and (b) an aggregate direct and indirect beneficial ownership and control of 325,670,554 common shares of AEC, representing approximately 61.90% of the 526,162,450 issued and outstanding shares of AEC.

HCI's acquisition of the Shares, via Deepkloof, was made for investment purposes. HCI may from time to time acquire additional securities of AEC and/or IOG and may enter into derivative or other transactions with respect to such securities, based on such evaluation and the market conditions and other relevant circumstances, may increase or decrease its security holdings through market transactions, private agreements or otherwise, subject in each case to applicable securities laws.

This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available on SEDAR+ at www.sedarplus.ca.

About Hosken Consolidated Investments Limited

HCI is a South African black empowerment investment holding company with a US$870 million market capitalization, listed on the JSE Securities Exchange. It is incorporated under the laws of South Africa and its head office is located at Suite 801, The Point, 76 Regent Road, Sea Point, Cape Town, South Africa 8005.

Cautionary Note Regarding Forward-Looking Statements

This press release may include certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements using forward-looking terminology, including, for example, the words "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will", or "should" and similar expressions and statements relating to matters that are not historical facts, and may include statements regarding the Company's current intentions, beliefs or expectations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Hosken Consolidated Investments Limited