Deep Isolation completes reverse merger with Aspen-1; raises $33M in private placement

Deep Isolation Nuclear, Inc.

• Merger with Aspen-1 Acquisition Inc. creates Deep Isolation Nuclear, Inc.; all Deep Isolation equity converts at ratio of 25.837283 per share.
• Concurrent private placement of 11,012,387 shares at $3.00/share, raising approximately $33M in gross proceeds.
• Board expanded to five members: Elizabeth Muller, Rod Baltzer, Jonathon Angell, Kent Cole, Leslie Tepper, with staggered terms.
• Shell company status ceased; historical financials will be replaced with Deep Isolation's going forward.