Thermopylae Capital Inc. Announces Grant of Stock Options

Toronto, Ontario--(Newsfile Corp. - October 15, 2026) - Thermopylae Capital Inc. (TSXV: THY.P) (the "Corporation" or "Thermopylae"), a capital pool company (a "CPC") within the meaning of Policy 2.4 – Capital Pool Companies ("Policy 2.4") of the TSX Venture Exchange (the "TSXV"), announces that the Corporation's board of directors has approved the grant of 435,000 stock options (the ‎‎"Options") to senior officers and advisors of the Corporation. All Options were granted pursuant to the Company's stock option plan and are ‎subject to the terms of the applicable grant agreements and the requirements of the TSX Venture Exchange (the "TSXV").‎

The Options are fully vested and entitle the holder thereof to acquire one common share in the share capital of the Corporation for each Option at an exercise price of $0.10 at any time until October 15, 2031.‎‎ The Options are subject to TSXV acceptance and will be deposited in escrow pursuant to the terms of Escrow Agreement.‎

ABOUT THE CORPORATION

Thermopylae Capital Inc. is a capital pool company (a "CPC") within the meaning of TSXV Policy 2.4. The Corporation has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the TSXV's CPC policy, until the completion of its Qualifying Transaction, the Corporation will not carry on business other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction.

For further information, please contact:

Bill Mavridis, Director
Investor Relations
Thermopylae Capital Inc.
Email: [email protected]
Phone: 514-813-9200

Forward-Looking Information Cautionary Statement

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the grant of the Options, the approval of the TSXV. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Corporation believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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