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CVW CleanTech Announces Private Placement Expansion and Stock Option Grants, The Canadian Business Journal

CALGARY, Alberta, September 20, 2022 (GLOBE NEWSWIRE) — CVW Cleantech Co., Ltd. (“Company” or “CVW Cleantech”) (TSX-V: CVW) CVW CleanTech Inc. (TSX-V: CVW (“we” or “CVW CleanTech”) As a result of significant investor interest, the company announced an increase in its unbroken private placement, originally announced on September 6, 2022, to allow for the issuance of up to 1,166,667 units, with total proceeds of up to $1.4 million. . Units are priced at $1.20 per unit, and each unit consists of one share of common stock and one share of stock purchase warrants. Each warrant holder is entitled to one share of common stock at $1.80 per share for four years from the date of issuance. Common stock and warrants issued pursuant to the offering are subject to a hold period of four months from the closing date. The offering is subject to TSX Venture Exchange approval and is expected to close in early October 2022.

CVW Cleantech also announced that it has granted stock options to its Chief Executive Officer, Akshay Dubey, to purchase 2,600,000 shares of the Company’s stock. Grants are subject to and subject to the terms of our existing stock option plans and are subject to all regulatory requirements. Options vest after a minimum of 18 months and upon achieving certain performance and market-based conditions. The grant of the option was first announced as part of his appointment to Mr. Dubey’s position as Chief Executive Officer on September 6, 2022, giving Mr. Dubey 5,000,000 shares in the Company. Part of the total grant of options for .

Additionally, during the week ended September 16, 2022, five members of our Board of Directors exercised 2.6 million stock options. As a result, total revenue of $1.2 million was provided to the Company.

About CVW Cleantech

CVW Cleantech is a clean technology innovator focused on providing solutions to the mining sector of the Canadian oil sands industry. Our CVW™ technology offers a sustainable solution for reducing the environmental footprint of the oil sands industry. Our technology reduces the environmental impact of oil sands foam processing tailings while economically recovering valuable products that would otherwise be lost. CVW™ recovers bitumen, solvents, heavy minerals and water from tailings and prevents these commodities from entering tailings ponds and the atmosphere. Emissions of volatile organic compounds and greenhouse gases are significantly reduced. Hot tailings water is upgraded for recycling. Also, residual tailing can thicken more easily. The production and export of zircon and titanium creates a new mineral industry, essential raw materials for the ceramics and pigments industries.

Disclosure of forward-looking information

This news release contains forward-looking statements and information within the meaning of the securities laws of Canada (collectively, “forward-looking information”) that predict the future results, performance, achievements, prospects, or prospects of CVW CleanTech. or reflects management’s current expectations regarding opportunities.Ltd.

Forward-looking statements are, but are not always, identified by words such as “expect,” “anticipate,” “believe,” “intend,” “estimate,” “could,” or similar is often “Possible” When resemble Expression, Also statement that event, conditions Also result “will”, “May”, “can” Also “should do it” occur or be achieved. Forward-looking statements may include statements regarding our intention to complete the offering and the expected expenditure of revenues from the offering, program of work, capital expenditures, timelines, strategic plans, market prices of goods or other statements that are not factual. May contain descriptions. . Forward-looking statements are forward-looking statements that are inherently uncertain and subject to various risks, uncertainties and other factors, our actual performance may not be reflected in forward-looking statements. It may be very different from what you see. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include: Uncertainty associated with disputes and litigation. Fluctuations in interest rates, commodity prices and exchange rates. Changes in the availability and cost of technical labor required for the project. price and/or inflationary pressures affecting the cost of equipment and materials required to commercialize the project; uncertainty in estimating capital and operating costs; the need for additional funding and the uncertainty regarding the availability and terms of future funding; Duration and full impact of COVID-19. the impact of rising inflation on us;Other risks and uncertainties disclosed in other information we publish from time to time and file with appropriate regulatory authorities. agency.

All forward-looking statements are based on our beliefs and assumptions based on: information Available and of time these are Assumption that is make. of Positive statement include here that is that’s why in september [20]2022 and is subject to change after this date, and the Company undertakes no obligation to publicly update or revise its statements to reflect new events or circumstances, except as required by applicable law. I will not bear

Although management believes that the expectations expressed by such forward-looking information or statements are reasonable, it is possible that the forward-looking information or statements may not be achieved and the underlying There is a significant risk that the assumptions will not prove to be accurate.

Actual results or events may differ materially from the plans, intentions and expectations expressed or implied by any forward-looking information or statements as a result of a number of risks, uncertainties and factors, including: There is a nature. Anything that requires more cash than we can reasonably obtain or obtain. reliance on key personnel; reliance on corporate collaboration; potential delays; uncertainties associated with the early stages of technology and product development; Uncertainty about stock market fluctuations. uncertainties regarding future cost levels and the possibility of unanticipated costs or expenses or cost overruns; Other risks and uncertainties that may not be described herein. We do not have a policy of updating forward-looking information beyond the process required under applicable securities laws.

For more information, please contact:

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.


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CVW CleanTech Announces Private Placement Expansion and Stock Option Grants, The Canadian Business Journal

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