Exhibit 99.1  HECATE ENERGY AND EGH ACQUISITON CORP. PROVIDE UPDATE ON PATH TO PLANNED NASDAQ LISTING AND PROGRESS TOWARD BUSINESS COMBINATION

Hecate Energy LLC and EGH Acquisition Corp. provided an update on their definitive business combination, announced January 22, 2026, that values Hecate at a pre-money enterprise value of approximately $1.2 billion and would list Hecate on Nasdaq under the ticker "HCTE". Legal and documentation matters involving Hecate's lenders, including litigation in which EGH was named a defendant, were fully resolved via a mutual release and settlement agreement entered into on August 27, 2026, and the transaction is now expected to close in early Q1 2027. Hecate is also in discussions with potential interim investors regarding additional capital to support the de-SPAC process and strengthen its balance sheet.

HECATE ENERGY AND EGH ACQUISITON CORP. PROVIDE UPDATE ON PATH TO PLANNED NASDAQ LISTING AND PROGRESS TOWARD BUSINESS COMBINATION

This is the opening of the release as filed. Read the full document on SEC.gov, or read it in full on SPAC Watch with the trust, deadline and warrant terms alongside it.