Mr. Jason Birmingham reports

ABOUND ENERGY DEBUTS NEW CORPORATE IDENTITY AND TICKER SYMBOL: CULMINATING STRATEGIC MANAGEMENT TRANSITION AND FUTURE GROWTH INITIATIVES

In a decisive move signalling a new era, the company is rebranding as Abound Energy Inc. This change is not merely cosmetic. It represents a strategic shift in corporate management, underlining a fresh vision and a comprehensive go-forward plan.

As of the opening of trading on Jan. 31, 2024, the company has officially changed its name to Abound Energy Inc. The change of name was accepted by the Canadian Securities Exchange and approved by resolution of the company's board of directors. The company's shares have commenced trading on the CSE under the new name, as of the opening of trading on Jan. 31, 2024, under the trading symbol ABND.

The decision to rebrand comes as part of management's commitment to chart a new course for the company. Abound will usher in a transformative phase, guided by a dynamic leadership team with the purpose of realizing the company's vision to provide a low-cost, long-duration energy storage solution to enable global energy sustainability. This objective is achievable by harnessing the abundance of zinc metal and air, utilizing the Zaeras technology to pave the way for abundant and sustainable energy. This change further reflects its dedication to innovation, growth and the pursuit of excellence.

1. Corporate shift: The rebranding to Abound represents more than just a change in name. It signifies the implementation of a comprehensive forward-looking plan that maps out a path for sustained growth and success. This plan encompasses a revised focus on diversification, an expansion of market presence and a commitment to realizing unparalleled value to stakeholders.

A key aspect of this transformation is the shift from a build and sell model for Zaeras to a profit-sharing model, where Abound will enter into joint ventures with energy providers which regularly overproduce and, as a result, sell excess power at a significant reduction or even pay others to take it. Abound will offer its Zaeras technology to these providers, enabling them to sell excess power during peak usage times. In return, Abound will receive the largest percentage of income as part of the joint venture. Once Abound achieves a return on investment, the revenue split will reverse, with the provider receiving the larger percentage of income. This strategic approach aims to create a mutually beneficial partnership while optimizing continuing revenue streams for all involved parties.

In another substantial shift, Abound is transitioning to a development model that is centred around partnerships through external collaboration. This transformation will be strengthened by the introduction of Abound's new testing and development services. Beyond the goal of generating revenue to offset overhead costs, this innovative business model is expected to drive and enhance the development of its Zaeras LDES technology. It seeks to leverage testing and development capabilities at both its research and development and cathode development facility, as well as its engineering facility, fostering innovation and efficiency through collaborative efforts with external experts across various developmental stages.

2. Management revitalization: Abound is set to benefit from a revamped leadership structure, bringing in seasoned professionals with a proven record in steering companies toward success. The new team is committed to driving Abound to new heights of achievement.

The new leadership team has demonstrated resilience, organizational prowess and efficiency in steering the company out of an unprecedented financial downturn. Its successful navigation included a strategic refocusing of corporate efforts, achieved with notable effectiveness despite limited resources.

Directors of Abound are Jason Birmingham, Dr. Simon Fan, Keith Morlock and Scott Larson.

Directors of Abound's wholly owned subsidiary, Zinc8 Energy Solutions USA Inc., are Doug MacDonald, Robert Parker and Mr. Birmingham.

3. Core competence: Under the guidance of its new leadership team, Abound is firmly dedicated to excellence through a pro-active engagement in a strategic initiative to reacquire and nurture top-tier talent. It deeply recognizes that the success of its endeavours is intricately linked to the unparalleled expertise and unwavering dedication of its team members, many of whom have played pivotal roles in advancing the Zaeras LDES technology over the past decade.

To foster a corporate environment that is synonymous with innovation and collaboration, it is actively shaping a culture that attracts and retains the industry's best and brightest professionals. This deliberate effort underscores its dedication to maintaining a competitive edge through the acquisition and cultivation of exceptional talent.

4. Testing and development services: Capitalizing on multimillion-dollar investments directed toward the establishment and expansion of its engineering and R&D/production facilities, Abound is strategically advancing into the realm of testing and development services. This strategic move is strengthened by its extensive proficiency in fluid mechanics, computational modeling, mechanical design, and material and electrochemical characterization. This expansion serves as a resolute commitment to not only maintain but also enhance its standing as a pioneering force in technological innovation in the renewable energy sector. By harnessing its comprehensive expertise, it aims to offer valuable solutions that contribute to the advancement of a global transition to clean energy.

By expanding its capabilities into testing and development services, it aims to provide comprehensive solutions that integrate its accumulated knowledge and leverage its specialized and distinctive testing infrastructure. This strategic initiative is driven by a dedication to exceed industry standards and set new benchmarks in technological advancements. This business model signifies a pro-active step toward meeting the evolving demands of the market while reinforcing its reputation for excellence in research, development and cutting-edge innovation. This innovative business model is expected to enhance the development of its Zaeras LDES technology while significantly reducing development and operational costs.

Abound is not just a name change. It symbolizes a significant turning point for the company and makes clear its unwavering commitment to excellence and innovation: to make clean energy abundant. With a renewed focus on management, a comprehensive business plan and a commitment to fostering top talent, it invites its stakeholders to join it on this exciting journey as it strives to create a future where possibilities abound.

About Abound Energy Inc.

Abound specializes in developing scalable, environmentally friendly, long-lasting energy technology. Its patented Zaeras long-duration energy storage technology, leveraging zinc-air chemistry, guarantees the storage and on-demand delivery of electricity without the limitations or environmental risks associated with current market leaders.

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