Genesis Acquisition Corp. Announces Amendment to Business Combination Agreement with Nusa Nickel Corp.

(TheNewswire)

News Release – January 14, 2026– TheNewswire - Kelowna,British Columbia, Canada (TSX.V: REBL.P) GenesisAcquisition Corp. (the “Company” or “Genesis”), acapital pool company (a “CPC”), announces that on January 14, 2026,it entered into an amending agreement (the “Amending Agreement”) amending certain of the terms set forth in itspreviously announced business combination agreement (the“DefinitiveAgreement”) with Nusa Nickel Corp. andpursuant to which the parties would complete their arm’s lengthbusiness combination transaction (the “Proposed Transaction”),including extending the outside date for completion of the ProposedTransaction.  

The parties continue to work diligently toward thecompletion of the Proposed Transaction and, subject to satisfaction orwaiver of the condition’s precedent referred to in the DefinitiveAgreement and receipt of all requisite approvals, the partiesanticipate the Proposed Transaction will be completed in the secondquarter of 2026.

About Genesis AcquisitionCorp.

Genesis is a CPC that completed its initial publicoffering and obtained a listing on the Exchange on or aboutNovember 1, 2019 (trading symbol:REBL.P). Prior to entering into the LOI, Genesisdid not carry on any active business activity other than reviewingpotential transactions that would qualify as Genesis's QualifyingTransaction.

About Nusa Nickel Corp.

Nusa Nickel is North America's onlyrevenue-generating nickel producer and licensed trader operating inIndonesia's world-leading nickel district.

Our operations focus on the responsible sourcing,production, and sale of lateritic nickel material, with a commitmentto environmental stewardship and supporting local communities. Inaddition to our production activities, Nusa Nickel is a licensednickel trader, enabling us to source and supply nickel ore fromthird-party producers and expand our market footprint acrossIndonesia.

ON BEHALF OF THE BOARD OF DIRECTORS:

Blair Wilson, President, Chief Executive Officer, andDirector

For further information please contact:

Email:        blair@forbiddenspirits.ca      

Phone: (250) 317-0996       

Disclaimer for Forward-LookingInformation

This press release contains forward-looking statementsand information that are based on the beliefs of management andreflect Genesis's current expectations. When used in this pressrelease, the words "estimate", "project","belief", "anticipate", "intend","expect", "plan", "predict","may" or "should" and the negative of these wordsor such variations thereon or comparable terminology are intended toidentify forward-looking statements andinformation. The forward-looking statements and information in thispress release include information relating to the business plans ofGenesis, Nusa, and the Proposed Transaction, including the anticipatedtiming of the completion thereof. Such statements and informationreflect the current view of Genesis. Risks and uncertainties that maycause actual results to differ materially from those contemplated inthose forward-looking statements and information. By their nature,forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause our actual results,performance or achievements, or other future events, to be materiallydifferent from any future results, performance or achievementsexpressed or implied by such forward-looking statements.

THE FORWARD-LOOKING INFORMATIONCONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF GENESISAS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TOCHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ONFORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATIONAS OF ANY OTHER DATE. WHILE GENESIS MAY ELECT TO, IT DOES NOTUNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT ASREQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Completion of the ProposedTransaction is subject to a number of conditions, including but notlimited to, acceptance of the TSX Venture Exchange. There can be noassurance that the Proposed Transaction will be completed as proposedor at all.

Investors are cautioned that, exceptas disclosed in the Filing Statement to be prepared in connection withthe Proposed Transaction, any information released or received withrespect to the Proposed Transaction may not be accurate or completeand should not be relied upon. Trading in the securities of a capitalpool company should be considered highly speculative.

The TSX Venture Exchange Inc. has inno way passed upon the merits of the Proposed Transaction and hasneither approved nor disapproved the contents of this pressrelease.

Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this press release.

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