Sky Quarry Inc. Announces 1-for-8 Reverse Stock Split

WOODS CROSS, UT / ACCESS Newswire / March 5, 2026 / Sky Quarry Inc. ("Sky Quarry" or the "Company") (Nasdaq Capital Market:SKYQ), an integrated energy solutions company transforming the waste recycling industry, today announced that the Company's Board of Directors (the "Board") approved a reverse stock split (the "Reverse Stock Split") of Sky Quarry's shares of Common Stock, par value $0.0001 per share (the "Common Stock"), at a ratio of 1-for-8 (the "Reverse Stock Split Ratio"). The Company filed its Certificate of Amendment to the Certificate of Incorporation (the "Certificate of Amendment") with the Secretary of State of Delaware on March 5, 2026, to implement the Reverse Stock Split. The Reverse Stock Split is expected to become effective at 11:59 p.m. Eastern Time on March 15, 2026 (the "Effective Time"), and Sky Quarry's Common Stock is expected to begin trading on the Nasdaq Capital Market (the "Nasdaq") on a split-adjusted basis at the opening of trading on March 16, 2026, under the existing ticker symbol "SKYQ".

As disclosed in the Company's Current Report on Form 8-K filed on November 5, 2025, the Company's stockholders approved the Certificate of Amendment at a special meeting of stockholders held on November 4, 2025, authorizing a reverse stock split at a ratio between 1-for-2 and 1-for-25, with the final ratio, implementation and timing to be determined by the Board in its sole discretion. The Board subsequently determined to effect the Reverse Stock Split at a ratio of 1-for-8. The primary goal of the Reverse Stock Split is to increase the per share market price of the Common Stock to regain compliance with the minimum $1.00 average closing price requirement for continued listing on the Nasdaq.

At the Effective Time, every eight (8) shares of Common Stock issued and outstanding will be automatically combined and converted into one (1) share of Common Stock. The Reverse Stock Split will not reduce the number of authorized shares of Common Stock and will not change the par value of the Common Stock. The Reverse Stock Split will affect all stockholders uniformly and will not affect any stockholder's ownership percentage of the Company's shares of Common Stock, except to the extent that the Reverse Stock Split would result in fractional shares being rounded up. The new CUSIP number for the Common Stock following the Reverse Stock Split will be 83087C204. Prior to the Reverse Stock Split, there are 29,962,839 shares of Common Stock issued and outstanding, and immediately following the Reverse Stock Split, the Company expects to have approximately 3,752,874 shares of Common Stock issued and outstanding, subject to the number of shares resulting from the rounding up of fractional shares held by registered holders.