Dune Oil updates OTCQB symbol, closes further private placement financing

Dune Oil updates OTCQB symbol, closes further private placement financing

Wed, September 16, 2026 at 3:36 PM GMT+3 1 min read

Dune Oil Corp (CSE:DUNE, OTCQB:DUNXF, FRA:Z620) has changed its OTCQB trading symbol to "DUNXF" and closed additional tranches of its non-brokered private placement, raising gross proceeds of C$422,500.

The new symbol took effect September 14. The company's CSE symbol (DUNE) and Frankfurt symbol (Z62) remain unchanged.

Under the private placement, first announced in filings from April, June and July 2026, Dune issued 2.8 million units at $0.15 per unit for gross proceeds of C$422,500.

The company also settled C$20,000 in outstanding debt with an arm's length party through the issuance of 133,333 units. Each unit consists of one common share and one-half of one warrant, with each whole warrant exercisable at C$0.25 for one year from issuance.

The shares and warrants from this tranche are subject to hold periods until December 26, 2026 and January 15, 2027, respectively.

Proceeds will support the company's work program on the M47 oil exploration block, investor relations activities and general working capital.

Dune will also participate in the 3rd Annual ArcStone-Kingswood Growth Summit in Toronto on September 16, 2026, where management plans to discuss the M47 project, upcoming milestones and growth strategy, along with one-on-one investor meetings.