PowerTap Gives Bi-Weekly Standing Report, The Canadian Enterprise Journal

VANCOUVER, British Columbia and ALISO VIEJO, Calif., Oct. 12, 2023 (GLOBE NEWSWIRE) — PowerTap Hydrogen Capital Corp. (NEO: MOVE) (OTC: MOTND) (“PowerTap” or the “Firm” or “MOVE”) is offering this replace on the standing of a administration stop commerce order granted on September 29, 2023 (the “MCTO“) by the British Columbia Securities Fee below Nationwide Coverage 12-203 – Administration Stop Commerce Order (“NP 12-203“).

On September 29, 2023, the Firm introduced that, for causes disclosed within the information launch, there could be a delay within the submitting of its monetary statements and accompanying administration’s dialogue and evaluation for the fiscal yr ended June 30, 2023 (the “Annual Filings“) past the interval prescribed below relevant Canadian securities legal guidelines (the “Default Announcement“).

Through the MCTO, the final investing public will proceed to have the ability to commerce within the Firm’s listed frequent shares. Nonetheless, the Firm’s Chief Government Workplace and Chief Monetary Officer will be unable to commerce within the Firm’s frequent shares.

The Firm studies that SHIM & Associates LLP (“SHIM”) appointed on June 23, 2023, gave discover to the Firm, that they’re now not be ready to proceed the audit of the consolidated monetary statements of the Firm as a consequence of their scheduling conflicts.

There aren’t any disagreements, consultations or unresolved points (as these phrases are outlined in NI 51-102) in reference to the resignation of SHIM.

The resignation of SHIM has been permitted by the board of administrators of the Firm (the “Board”).

The audit committee, the Board and administration authorizes SHIM to reply totally to any enquiries by a successor auditor. The Firm has commenced a seek for a successor auditor to be appointed and can present an extra replace on or earlier than October 27, 2023. Additional updates will likely be supplied by the Firm as obligatory.

Aside from as disclosed on this information launch, there aren’t any materials modifications to the knowledge contained within the Default Announcement. The Firm confirms that it intends to fulfill the provisions of NP 12- 203 and can proceed to problem bi-weekly default standing studies for as long as it stays in default of the Annual Filings requirement.

ABOUT POWERTAP HYDROGEN CAPITAL CORP.

PowerTap Hydrogen Capital Corp., via its wholly owned subsidiary, PowerTap Hydrogen Fueling Corp. (“PowerTap”), is targeted on putting in hydrogen manufacturing and shelling out fueling infrastructure in america. PowerTap’s patented resolution has been developed over 20 years. PowerTap is now commercializing its third-generation blue hydrogen product that can concentrate on the refueling wants of the automotive and long-haul trucking markets that lack hydrogen fueling infrastructure.

www.PowerTapcapital.com www.PowerTapfuels.com

PowerTap Hydrogen frequent shares are listed on the NEO Change. Please go to the corporate’s profile on the NEO Change web site at https://www.cboe.ca/en/reside/security-activity/MOVE#!/market-depth

NEITHER THE NEO EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

PowerTap Contact:

Raghu Kilambi [email protected]
+1 (949) 284-7060

Sure data contained herein could represent “forward-looking data” or “forward-looking statements” below Canadian securities laws. Usually, forward-looking data might be recognized by phrases corresponding to “professional forma”, “plans”, “expects”, “could”, “ought to”, “might”, “will”, “finances”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, or variations together with unfavourable variations thereof of such phrases and phrases that check with sure actions, occasions or outcomes which will, happen or be taken or achieved. Such forward-looking statements, together with however not restricted to statements referring to the anticipated improvement and operations of the Firm, statements regarding the timing, overview, completion and submitting of the Annual Filings in addition to the length of the MCTO, contain dangers, uncertainties and different components which can trigger the precise outcomes to be materially completely different from these expressed or implied by such forward-looking statements or forward-looking data. There might be no assurance that such statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on forward-looking statements and forward-looking data. The Firm is not going to replace any forward-looking statements or forward-looking data included herein, besides as required by relevant securities legal guidelines.

The entire forward-looking data contained on this information launch is expressly certified by the foregoing cautionary statements.

This press launch incorporates forward-looking statements pertaining to, amongst different issues, the timing and skill of the Firm to finish the event and manufacture of its on-site hydrogen fueling items; finalizing provide chains; acquiring ample funding to finish and manufacture its on-side hydrogen fueling items; acquiring all obligatory zoning and development permits for places internet hosting the fueling items; and the OEM’s expectations for its vans and market acceptance of electrical vans. Ahead- wanting data is predicated on present expectations, estimates and projections that contain a variety of dangers, together with with out limitation, and dangers associated to the rollout of the OEM’s enterprise and the timing of anticipated enterprise milestones; the results of competitors on the Firm’s future enterprise; the provision of capital; and the opposite dangers detailed every now and then within the Firm’s studies and paperwork filed with the relevant securities commissions, which might trigger precise outcomes to fluctuate and, in some cases, to vary materially from these anticipated by the Firm and described within the forward-looking data contained on this press launch.

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