Barrel Energy Inc.

Barrel Energy Inc. closed financing transactions with Coventry Enterprises, LLC, securing a $150,000 promissory note for a net cash proceed of $125,000 after discounts and expenses. Additionally, the company entered into an Equity Purchase Agreement, providing access to up to $5,000,000 in common stock purchases over 36 months. The agreements also include the issuance of commitment shares and a pre-funded warrant.

Barrel Energy Inc. converted 750,000 shares of Series A Preferred Stock into 750,000,000 shares of common stock on July 2, 2026. This conversion occurred at a 1:1,000 ratio and involved officers, directors, and greater-than-ten-percent beneficial owners. Following the conversion, common shares outstanding increased from 2,144,622 to 752,144,622, while Series A Preferred shares decreased from 5,000,000 to 4,250,000. No cash proceeds were received by the company.

Barrel Energy Inc. filed a Corrective Amendment to its Series A Preferred Stock designation on June 22, 2026. This amendment rectifies an administrative error in the original Nevada filing, which inadvertently omitted the intended 1:1,000 conversion ratio of Series A Preferred Stock to common stock. The correction aligns the public records with the company's Stock Purchase Agreement, confirming that each of the 5,000,000 Series A Preferred Shares is convertible into 1,000 common shares, totaling 5 billion common shares upon full conversion.