(SeaPRwire) –   CALGARY, AB, April 27, 2026 – ACT Energy Technologies Ltd. (TSX: ACX) (“ACT” or the “Company“) has announced the full repayment of the outstanding exchangeable subordinated promissory note. This note was issued on July 11, 2023, in connection with the Company’s acquisition of Rime Downhole Technologies, LLC (“Rime“) (the “EP Note“). All monetary figures mentioned are in U.S. dollars, unless otherwise specified.

ACT has settled the outstanding aggregate principal amount of USD $20.0 million for the EP Note, along with accrued interest. The early repayment was financed through the available USD $20.0 million term facility provided by the Company’s syndicate of lenders. The EP Note has been cancelled following its repayment.

The EP Note was initially issued on July 11, 2023, by CET Flight Holdco, Inc., a U.S.-based wholly-owned subsidiary of ACT. It was part of the consideration for ACT’s acquisition of Rime. The EP Note included a conversion right, allowing it to be converted into 3,510,000 common shares of ACT under specific conditions. Due to the early repayment of the EP Note, this conversion right is no longer in effect.

The repayment of the EP Note addresses its upcoming maturity date and removes the possibility of dilution from a conversion.

ABOUT ACT ENERGY TECHNOLOGIES 

ACT Energy Technologies Ltd., based in Calgary, Alberta, operates in Canada under the name “Altitude Energy Partners” and in the United States under the brands “Altitude Energy Partners”, “Discovery Downhole Services”, “Rime Downhole Technologies”, and “Stryker Directional”. ACT’s common shares are traded on the Toronto Stock Exchange under the symbol “ACX”. The Company offers high-performance directional drilling services and downhole technologies to energy companies across North America, providing customized solutions to enhance drilling efficiency and reduce project expenses. Further details are available at www.actenergy.com.

FORWARD-LOOKING INFORMATION 

This news release contains statements and information that may be considered “forward-looking information” under applicable securities laws. These statements are identified by words such as “will”, “expects”, “positions”, “believe”, “potential”, and similar expressions, including their negations, or other similar phrases concerning non-historical events. Forward-looking information in this release pertains to, but is not limited to, statements concerning ACT’s business strategy and focus.

Such forward-looking information is based on various assumptions that may prove to be inaccurate. These include, but are not limited to, assumptions regarding market and business conditions. While the Company believes these assumptions are reasonable, it cannot guarantee that these forward-looking statements will be accurate or that any anticipated events will occur. If they do occur, the Company cannot assure the benefits it will derive from them.

Actual results could differ significantly due to various factors and risks, including market and economic conditions.

Additional information regarding the risks and uncertainties associated with the Company’s business can be found under the “Risk Factors” section of the Company’s annual information form for the fiscal year ended December 31, 2025, and in the Company’s other public filings, available on SEDAR+ at www.sedarplus.ca under the Company’s profile. The forward-looking information presented in this news release is dated as of the release date, and the Company is not obligated to publicly update this information to reflect new information, future events, or other changes, except as required by law.

Inquiries for further information should be directed to:

Tom Connors, President & Chief Executive Officer
Rob Skilnick, Chief Financial Officer
ACT Energy Technologies Ltd. 
6030 3 Street S.E.
Calgary, Alberta T2H 1K2
Telephone: 403.265.2560, Fax: 403.262.4682
www.actenergy.com 

SOURCE ACT Energy Technologies LTD.