Mr. Akshay Dubey reports

CVW CLEANTECH ANNOUNCES GRANT OF STOCK OPTIONS

CVW Cleantech Inc., on June 19, 2023, granted stock options to three of its officers:

• Joshua Grant, the company's chief financial officer, was granted stock options for the purchase of 300,000 common shares. These stock options are exercisable at a price of 93 cents, with a term of five years to expiry.
• Lee Girardo, the company's vice-president, corporate development, was granted stock options for the purchase of 600,000 common shares. These stock options are exercisable at a price of 93 cents, with a term of five years to expiry.
• Viraj Patel, the company's vice-president, engineering, was granted stock options for the purchase of 250,000 common shares. These stock options are exercisable at a price of 93 cents, with a term of five years to expiry.

The grant of stock options to Mr. Grant, Mr. Girardo and Mr. Patel is pursuant and subject to the terms and conditions of the company's existing stock option plan, and is subject to all regulatory requirements. The options will vest after a minimum of 18 months and after attaining certain performance or market-based conditions.

About CVW Cleantech Inc.

CVW Cleantech is a clean technology innovator, working to develop sustainable technology solutions. The company has developed a suite of technologies called Creating Value from Waste (CVW) that recovers bitumen, solvents, critical minerals and water from oil sands froth treatment tailings while significantly reducing their emissions and enhancing tailings management.