EV Battery Tech closes large-scale crypto acquisition

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Vancouver, BC, December 8, 2021 (GLOBE NEWSWIRE) – Extreme Vehicle Battery Technologies Corp. (the “Company” or “EV Battery Tech”) (CSE: ACDC) (OTCQB: CRYBF) is pleased to announce that following in its press release dated November 23, 2021, it has now completed the acquisition ( the “Acquisition”) of Optimal CP Inc. (“Optimal”), a company focused on the development and management of large-scale crypto-mining facilities.

Optimal is currently developing numerous facilities in Alberta, Canada that will benefit from direct access to clean, reliable and low-cost power generation, which will provide power to some of the cheapest mining operations, the cleanest and most reliable in the world.

The Company now controls Optimal’s development pipeline and retains its management team to enable a smooth transition. The Company will also use the expertise of the Optimal team as the Company further expands into the cryptocurrency mining space.

Following extensive market research, EV Battery Tech believes this transaction will show significant synergies with its blockchain-based technologies, while providing the company and its shareholders with additional direct exposure to the battery industry. cryptocurrency.

“I am incredibly happy to have completed this acquisition and to have retained Optimal’s team of experts to join us on our journey as we focus on this rapidly growing industry,” commented the CEO of EV Battery Tech, Bryson Goodwin. “Our focus on crypto and our acquisition of such a large crypto-mining infrastructure is a great opportunity for us to really grow our portfolio.”

In compensation for the acquisition, and on the basis of arm’s length negotiations, the Company issued 55 million ordinary shares of the Company (the “counterpart shares”), of which 30 million are subject to a redemption right. , under which the Company will have the option to buy back these shares for nominal consideration in the event that certain performance milestones are not reached by Optimal after the acquisition.

Debt settlement

On November 18, 2021, the Company entered into a debt settlement agreement (the “Debt Settlement”) with NAI Interactive Ltd. (“NAI”). Pursuant to the debt settlement, the Company issued 476,190 common shares of the Company in settlement of a debt of $ 100,000 owed by the Company to NAI. These shares are subject to a legal resale restriction which will expire four months and one day from the date of issue.

On behalf of the company,

Bryson Goodwin, Managing Director 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 smart and scalable 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. Optimal’s focus on integrating its mining facilities with power generation facilities in Alberta and on the use of state-of-the-art mining techniques, will enable it to achieve a high degree of financial option and long-term operational certainty that can deliver 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 Tech’s periodic filings with Canadian securities regulators. When used in this press release, words such as “will”, “hope”, “could”, “plan”, “estimate”, “expect”, “intend”, “May”, “possible”, “believe”, “should”, “intended”, “proposed”, “rendering” and similar expressions 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 benefits for the Company and Optimal of the acquisition, (ii) _ the retention of the Optimal team after the acquisition, (iii) business plans and program, (iv) the Company’s focus on blockchain and cryptography and (v) the Company’s repurchase right under the Acquisition Agreement . 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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