Vancouver, BC, December 8, 2021 (GLOBE NEWSWIRE) – Extreme Vehicle Battery Technologies Corp. (the “Company“or”EV Battery Technology”) (CSE: AC DC) (OTCQB: CRYBF) is pleased to announce that, in addition to its press release dated November 23, 2021, it has completed the acquisition (the “Acquisition“) From Optimal CP Inc. (“Optimum”), A company focused on the development and management of large-scale cryptocurrency mining facilities.
Optimal is currently developing numerous facilities within Alberta, Canada that will take advantage of direct access to low-cost, reliable and clean power generation that will provide power for some of the cheapest, cleanest and most reliable mining operations in the world.
The Company now has control over Optimal’s development pipeline and is retaining its management team to allow for a smooth transition. The Company will also utilize the expertise of the Optimal team as the Company further expands in the cryptocurrency mining space.
Following extensive market research, EV Battery Tech believes that this transaction will show significant synergies with its blockchain-based technologies, while also providing the Company and its shareholders with greater direct exposure to the cryptocurrency industry.
“I am incredibly pleased to have closed this Acquisition and hired Optimal’s team of experts to join us on our journey as we focus on this fast growing industry “, commented EV Battery Tech CEO Bryson Goodwin. “Our emphasis on crypto and our acquisition of such an expansive crypto mining infrastructure it is an excellent opportunity for us to really expand our portfolio ”
As compensation for the Acquisition, and based on a negotiation in arm’s length conditions, the Company has issued 55 million common shares of the Company (the “Compensation actions”), 30 million of which are subject to a repurchase right, through which the Company will have the option to repurchase said shares for a nominal consideration in the event that Optimal does not meet certain performance milestones after the Acquisition.
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 payment of a debt of $ 100,000 that the Company owed to NAI. These shares are subject to a legal resale restriction that will expire four months and one day after the issue date.
On behalf of the company,
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 electric vehicle (EV) solutions and solutions. fast growing energy storage (ESS). markets. The company is committed to helping global recycling solutions by offering recycling initiatives using its technology to fully analyze and restore used batteries.
About Optimal CP
Optimal CP is a leading equity firm focused on meeting the growing demand for profitable cryptocurrency infrastructure in North America. Optimal’s focus on integrating its mining facilities into Alberta’s power generation facilities, and using state-of-the-art operating techniques, will allow it to achieve a high degree of financial optionality and long-term operational certainty that some one of the cleanest. and lowest cost mining operations in the world.
Contact numbers and emails
For more information about the Company, visit https://www.evbattery.tech.
For more information on the company’s products, visit https://www.ionixpro.com.
For investor inquiries, please contact (236) 259-0279 or email firstname.lastname@example.org.
For product or sales inquiries, please contact (236) 266-5174 or email email@example.com.
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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”, “hope”, “intend”, “may”, “potential”, “believe” , “Should”, “projected”, “proposed”, “performance” and similar expressions are forward-looking statements.
The information in this press release includes certain information and statements about management’s vision of events, expectations, plans, and future prospects that constitute forward-looking statements. These statements are based on assumptions that are subject to risks and uncertainties. The forward-looking statements in this press release include, but are not limited to, statements regarding: (i) the benefits to the Company and Optimal from the Acquisition, (ii) _ the retention of the Optimal team after the Acquisition, (iii) Optimal’s business plans and programs, (iv) the Company’s focus on blockchain and crypto and (v) the Company’s repurchase right under the Acquisition Agreement. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the expectations in any forward-looking statement will be correct. Except where required by law, the Company denies any intent 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. that affect that future. – appearance or other statements.