New Era Energy Enters Into Binding Agreement To Acquire Sharon AI's Entire 50% Ownership Interest In TCDC For Total Consideration Of $70M

New Era Energy & Digital, Inc. (NASDAQ:NUAI) ("New Era" or the "Company"), a developer and operator of next-generation digital infrastructure and integrated power assets in the Permian Basin, today announced that it has entered into a binding agreement to acquire Sharon AI's 50% ownership interest in Texas Critical Data Centers LLC ("TCDC"). Upon closing, the transaction will result in New Era owning 100% of the development. TCDC is the Company's flagship 1+ gigawatt hyperscale data center development located in Ector County outside Odessa, Texas.

Under the binding agreement, New Era will acquire Sharon AI's entire 50% ownership interest in TCDC for total consideration of $70 million, structured across a combination of cash, equity, and a senior secured convertible promissory note, as disclosed in the Company's Current Report on Form 8-K filed in connection with the transaction.