EV Battery Tech Announces Acquisition of Large-Scale Crypto-Mining Infrastructure Company

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Company Continues to Increase Cryptocurrency Exposure by Acquiring Electricity and Infrastructure Development Rights for 1,000 ASIC Miners in Canada

VANCOUVER, British Columbia, Nov 23, 2021 (GLOBE NEWSWIRE) – Extreme Vehicle Battery Technologies Corp. (the Company or EV Battery Tech) (CSE: ACDC) (OTCQB: CRYBF) is pleased to announce that on November 22, 2021 it entered into a share exchange agreement (the agreement) to acquire Optimal CP Inc. (Optimal), a company focused on developing and managing crypto mining (acquisition) facilities.

In compensation for the acquisition, and based on arm’s length negotiations, the Company will issue 55 million common shares of the Company (the counterpart shares), at a price of $ 0.25 per common share, at Optimal shareholders, for a deemed transaction valuation of $ 13,750,000. The company has done significant market research and believes the pivot to the cryptocurrency space will derive the greatest value from its blockchain-based technologies while providing the company and its shareholders with direct exposure to the cryptocurrency industry. 30 million counterpart shares will be issued subject to the Company’s right to repurchase these shares for nominal consideration in the event that certain performance milestones are not reached by Optimal after the acquisition.

We started the pivot in the crypto space that allowed our shareholders to participate in this market, while continuing to develop our products and services and create more shareholder value, commented the CEO of EV Battery Tech. , Bryson Goodwin. Acquiring Optimal will provide us with an ideal opportunity to become a major cryptocurrency miner!

Optimal is developing numerous facilities in the Canadian Energy Center of Alberta that will benefit from direct access to clean, reliable and low-cost power generation facilities that can provide some of the cheapest, most expensive mining operations. clean and most reliable in the world.

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The acquisition of Optimal will give the Company control of the Optimals development pipeline and its seasoned management team, hopefully enabling a smooth transition for the Company into the crypto mining space. cash.

Optimal is excited to be working with EV Battery Tech in the development of its portfolio of assets in Alberta, said Kevin Gilchrist, CEO of Optimals. We believe the company’s approach to blockchain-based technology and its evolution to cryptocurrency is a perfect fit with Optimals’ strategy to develop clean, profitable and reliable mining operations in Alberta.

The Company has recently made progress in the blockchain and cryptocurrency arena with its recent acquisition of CryptoPlug Technologies Inc. (CryptoPlug), a company that develops a blockchain-based crypto-compatible application for smartphones. Following this, the company entered into a collaboration with the renewable bond base energy saving protocol (the ROBe2 protocol) through its subsidiary, the IONiX Pro Battery Technologies Inc (IONiX Pro), to develop the first hardware compatible with the Proof of Renewable protocol which will be able to use the ROBe2 protocol.

EV Battery Tech has built a solid foundation on its patented battery technology, which it has used to create its IONiX Pro product suite. The company has focused on transforming each product into having the ability to mine cryptocurrencies, while keeping its long-term vision for clean energy in mind.

On behalf of the company,

Bryson Goodwin, Chief Executive Officer

About EV Battery Tech

Extreme Vehicle Battery Technologies Corp. is a blockchain and battery technology company with revolutionary and patented Battery Management Systems (BMS) designed to meet the growing demand for scalable and intelligent solutions for electric vehicle (EV) and energy storage solution (ESS) in full growth. markets. The company is committed to helping global recycling solutions by delivering recycling initiatives using their technology to analyze and refurbish used batteries.

About Optimal CP

Optimal CP is a principal-owned company dedicated to meeting the growing demand for profitable cryptocurrency infrastructure in North America. Optimals is focused on integrating its mining facilities with power generation facilities in Alberta and using state of the art operating techniques, will enable it to achieve a high degree of financial option and operational certainty long term that can provide some of the cleanest products and cheapest mining operations in the world.

Phone numbers and emails

For more information about the Company, please visit https://www.evbattery.tech. For more information on the company’s products, please visit https://www.ionixpro.com. For investor inquiries, please contact (236) 259-0279 or email [email protected]. For product or sales inquiries, please contact (236) 266-5174 or email [email protected].

All communications are handled by AlphaOne Media Group Inc.

The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved the contents of this press release.

Forward-looking statements

Statements in this press release that are forward-looking statements are subject to various risks and uncertainties, including specific factors disclosed here and elsewhere in EV Battery Techs’ periodic filings with Canadian securities regulators. When used in this press release, words such as will, hope, could, plan, estimate, expect, intend, may, potential, believe, should, planned, proposed, rendered, and similar phrases , are forward-looking statements.

The information contained in this press 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 on assumptions subject to risks and uncertainties. The forward-looking statements contained in this press release include, without limitation, statements regarding: (i) the Agreement and its conclusion; (ii) Acquisition and remuneration; (iii) Optimal development of energy poles that facilitate the cheapest, cleanest and most reliable mining operations; and (iv) the acquisition providing the Company with control over the Optimals development pipeline and its seasoned management team that will ensure the successful transition of the Company into the cryptocurrency mining space. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it cannot guarantee 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 forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting these forward-looking statements or others.

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