Mr. Gary Benninger reports

AMMPOWER CORP. ANNOUNCES SALE OF MINERAL CLAIMS

Ammpower Corp. has sold to Consolidated Lithium Metals Inc. 24 mineral claims representing 1,283.08 hectares of concessions in the James Bay/Eeyou Istche region of Quebec from a wholly owned subsidiary (Subco) of Ammpower, subject to the terms and conditions set out in the corresponding asset purchase agreement dated as of July 20, 2023.

Pursuant to the agreement, as consideration for the acquisition of a 100-per-cent interest in the claims, Consolidated Lithium paid aggregate consideration of $60,000 in cash and granted to Ammpower a 1-per-cent net smelter return royalty affecting the claims, which Consolidated Lithium has the option to repurchase at any time for $250,000. No finder fees are payable in connection with, and no change of control of Consolidated Lithium will result from, the acquisition. Completion of the acquisition remains subject to final approval of the TSX Venture Exchange.

Rene Bharti, the chief executive officer and president and a director of Consolidated Lithium, is the president and a minority shareholder of Ammpower, and a director and officer of Subco, and the three companies share office space. Further, Ryan Ptolemy serves as the chief financial officer of both Consolidated Lithium and Ammpower. Notwithstanding the shared directors and officers, the acquisition does not constitute a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions because Ammpower and Subco are not related parties of Consolidated Lithium (as such terms are defined in MI 61-101). However, the acquisition does constitute a related party transaction, and was therefore characterized by the TSX-V as a reviewable transaction, under TSX Venture Exchange policies 1.1, 5.3, and 5.9 as a result of the shared officers and directors between Ammpower, Subco and Consolidated Lithium.

About Ammpower

Ammpower is a clean energy company focused on the production of green ammonia. The company is based in Toronto, Ontario, with a research and manufacturing facility in Southeast Michigan. The company is active in all facets of green ammonia production, including the production of green fertilizers, carbon free shipping fuel, and the 'cracking', or moving of green hydrogen as ammonia. The company is working on the development of proprietary technologies to produce green ammonia and green hydrogen at scale, including the investigation of unique catalytic reactions to bring down costs and to take advantage of carbon credits in the renewable energy space. Ammpower currently holds several LOIs with ports in Brazil, the United States, and is currently completing its IAMM(TM) prototype to create green ammonia for the agricultural industry.

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