Mr. Steve Dalton reports

REVOLVE ANNOUNCES CLOSING OF THIRD TRANCHE OF $2.3M NON-BROKERED PRIVATE PLACEMENT

Revolve Renewable Power Corp. has closed the third and final tranche of its non-brokered private placement offering of units, resulting in total gross proceeds under of the offering of approximately $2,317,207 from the sale of 8,130,551 units at a price of 28.5 cents per unit. The company issued 1,715,542 units yesterday for total gross of approximately $488,929.47 under the third tranche (see Revolve news releases dated Nov. 16, 2023, Dec. 13, 2023, and Dec. 22, 2023, for further details regarding the first two tranches of the offering).

Each unit comprises one common share of the company and one common share purchase warrant, with each warrant exercisable to acquire one addition common share at a price of 45 cents for a period of 18 months following the closing date of the offering, subject to the acceleration right (as defined below). The warrants contain an acceleration provision, whereby if the volume-weighted average trading price of the common shares of the company on the TSX Venture Exchange is equal to or greater than 60 cents per common share for 15 consecutive trading days, then the expiry date of the warrants shall automatically accelerate and the warrants will expire on the date that is 30 days after the date that notice of such acceleration is provided to the warrant holders (the acceleration right).

In connection with the third tranche, the company paid a cash commission of $7,508 to certain arm's-length third parties (the finders) who assisted in introducing subscribers to the offering, representing 5 per cent of the proceeds raised from subscribers introduced to the company by such finders.

All securities issued and issuable pursuant to the third tranche are subject to a statutory hold period expiring May 25, 2024, in accordance with applicable securities laws and the policies of the TSX-V. The offering remains subject to the final approval of the TSX-V.

The net proceeds raised from the offering will be used for (i) the construction of new distributed generation projects in the United States and Mexico; (ii) continued development of the company's utility-scale project portfolio; (iii) working capital requirements and other general corporate purposes.

About Revolve Renewable Power Corp.

Revolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar and battery storage projects in the U.S., Canada and Mexico with a portfolio of approximately 2,838 megawatts under development. The company has a second division, Revolve Renewable Business Solutions, which installs and operates sub-20 MW behind-the-metre distributed generation (or DG) assets. Revolve Renewable Business Solutions currently has an operating portfolio of six MW with an additional three MW under construction phase and 156 MW under development.

Revolve has an accomplished management team with a demonstrated record of taking projects from greenfield through to ready-to-build" (or RTB) status and successfully concluding project sales to large operators of utility-scale renewable energy projects. To date, Revolve has developed and sold over 1,550 MW of projects.

Revolve is targeting 5,000 MW of utility-scale projects under development in the U.S., Canada and Mexico, and in parallel is rapidly growing its portfolio of revenue-generating DG assets.

We seek Safe Harbor.