Vancouver, B.C, Feb. 25, 2022 (GLOBE NEWSWIRE) -- Extreme Vehicle Battery Technologies Corp. (the “Company” or “EV Battery Tech”) (OTCQB: CRYBF) wishes to make the following statements regarding certain market activity surrounding its common stock traded on the OTCQB market (the “Common Shares”).
Since the Company's Common Shares began trading on the OTCQB Market, trading volumes for the Company's Common Shares have been relatively robust. However, the Company acknowledges that trading volume on February 22, 2022, was statistically higher than previous daily volume averages and the share price increased notably relative to prior trading days. On February 23, 2022, the Company was notified by the OTC Markets about certain promotional activities in relation to the Common Shares, including in particular, two newsletter emails dated February 22, 2022, and February 23, 2022. The Company has made efforts to increase its brand and company awareness by engaging Stockhouse Publishing Ltd, NAI Interactive Ltd, Signal Point Communications Inc, Dauntless Marketing Inc, AlphaOne Media Group Inc, Amherst Baer Consultancy Corp, Yabucoa Partners Corp dba Street Smart, IAM Ventures Inc., and MarketOne Media Group Inc, to provide digital marketing and brand awareness services in an effort to assist the Company with its goal of creating professional marketing materials and also to achieve broader market awareness of the Company's Common Shares. The Company believes that competent and rigorous management, an involved board of directors to provide checks and balances, an active business plan, advertising initiatives and achievement of corporate milestones, can increase value and its exposure to the capital markets. The Company engaged these various groups to assist them in achieving these goals and communicating the successes to the market.
Once brought to the Company’s attention, each of the newsletters from February 22, and February 23, 2022 were reviewed by management. It was deemed that they presented factual statements regarding the Company, its business and industry, seemingly drawn from the Company's press releases. While the Company supports the factual statements in the newsletters that were based on prior press releases, both newsletters included information and promotional language that went beyond the factual statements in the Company's press releases. The Company had no editorial control over the content in the newsletters and is unaware of the full nature of the advertising activity or the responsible parties.
The Company made inquiries and confirms that it is not aware of any directors, officers or shareholders owning 10% or more of the Company's Common Shares, that may have directly or indirectly been involved in any way with the creation or distribution of promotional materials related to the Company, other than the preparation of the Company's press releases, which was included in the referenced newsletters.
In the ordinary course of business, many of the Company’s officers, directors, and consultants are paid a portion of their fees in common shares, and it is assumed that a portion of such shares are subsequently sold into the market. With the exception of Taryn Stemp, the Company’s Corporate Secretary and Director, no officer, director, or third-party service provider has sold or purchased the Company’s securities within the past 90 days. Ms. Stemp has reported her transactions on SEDI in compliance with insider reporting requirements under applicable securities laws. All directors and officers are required to report their purchases and sales of company securities on SEDI, and such filings are up to date in that regard.
The Company has not issued any convertible instruments allowing conversion to equity securities at prices that constituted a discount to the current market rate at the time of the issuance of such convertible instruments. The Company has also not issued shares at a discount to the market price.
On behalf of the Company,
Bryson Goodwin
Chief Executive Officer
About Extreme Vehicle Battery Technologies Corp.
Extreme Vehicle Battery Technologies is a blockchain and battery technology company with revolutionary, patented battery management systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing electric vehicle (EV) and energy storage solution (ESS) markets. The company has committed to assisting global recycling solutions by offering recycling initiatives using their technology to analyze and fully refurbish used batteries.
Contact Numbers and Emails
For further information about the Company, please visit https://www.evbattery.tech.
For further information about the Company’s Products please visit https://www.ionixpro.com.
For Investor Inquiries, please contact (236) 259-0279 or email info@evbattery.tech
For Product or Sales Inquiries, please contact (236) 266-5174 or email sales@ionixpro.com.
All communications are managed by AlphaOne Media Group Inc.
About Optimal CP Inc.
Optimal CP is a company focused on meeting the fast-growing demand for cost-effective cryptocurrency infrastructure in North America. Optimal's focus on integrating its mining facilities into power generation facilities in Alberta, and using state-of-the-art operations techniques, will allow it to achieve a high degree of financial optionality and long-term operational certainty that can deliver some of the cleanest and lowest-cost mining operations in the world.
Forward Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, but are not limited to, statements relating to: Optimal’s expectation of the delivery of the initial tranche of 100 ASIC miners and their commission into the first mining enclosure; the Company’s expectations from a 500 kW increase per month of the ASIC capacity; the Alberta-based electrical contractor commencing the procurement and delivery of Optimal’s initial mining enclosure systems in a timely and cost-efficient manner; finalization of the process allowing Optimal to commence the construction and tiered commissioning of its inaugural mining facility; the expectation that the facility will be best suited to Optimal’s ambitions; the continued advancement of the Smart Miner; development of the “Smart Command”; the Company’s engagement of IAM Ventures Inc.; and continued work with Daymak Inc., . Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Further risk factors are discussed in the Company’s Management Discussion and Analysis for year ended January 31, 2021.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
