EV Battery Tech Comments on Recent Market Activity

Rhea-AI Summary

Extreme Vehicle Battery Technologies Corp. (OTCQB: CRYBF) reported increased trading volumes on the OTCQB market, with a notable spike on December 9, 2021. The company was informed of promotional activities linked to its shares, particularly two newsletters on that date. While the newsletters contained factual information, they also included promotional language beyond the company's press releases. The company ensures no insider trading occurred related to these promotions. EV Battery Tech focuses on sustainable battery solutions and is committed to recycling initiatives for used batteries.

Positive

• The company's engagement with marketing firms indicates a proactive approach to increase brand awareness.
• Continuing to focus on innovative, patented Battery Management Systems for growing EV and ESS markets can enhance long-term growth prospects.

Negative

• The spike in trading volume and price increase may raise concerns about the potential for market manipulation.
• The company lacks control over promotional content, which could mislead investors and create reputational risks.

Vancouver, BC, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Extreme Vehicle Battery Technologies Corp. (the “Company” or “EV Battery Tech”) (OTCQB: CRYBF) wishes to make the following statements regarding certain market activity surrounding its common stock traded on the OTCQB market (the “Common Shares”).

Since the Company's Common Shares began trading on the OTCQB Market, trading volumes for the Company's Common Shares have been relatively robust. However, the Company acknowledges that trading volume on December 9, 2021, was statistically higher than previous daily volume averages and the share price increased notably relative to prior trading days. On December 10, 2021, the Company was notified by the OTC Markets about certain promotional activities in relation to the Common Shares, including in particular, two newsletter emails dated December 9, 2021. The Company has made efforts to increase its brand and company awareness by engaging Stockhouse Publishing Ltd, NAI Interactive Ltd, Signal Point Communications Inc, Hapbee Media Group Inc, Canada One Communications Inc, Amherst Baer Consultancy Corp, Yabucoa Partners Corp dba Street Smart, and MarketOne Media Group Inc, to provide digital marketing and brand awareness services in an effort to assist the Company with its goal of creating professional marketing materials and also to achieve broader market awareness of the Company's Common Shares. The Company believes that competent and rigorous management, an involved board of directors to provide checks and balances, an active business plan, advertising initiatives and achievement of corporate milestones, can increase value and its exposure to the capital markets. The Company engaged these various groups to assist them in achieving these goals and communicating the successes to the market.

Once brought to the Company’s attention, each of the newsletters from December 9, 2021 were reviewed by management. It was deemed that they presented factual statements regarding the Company, its business and industry, seemingly drawn from the Company's press releases. While the Company supports the factual statements in the newsletters that were based on prior press releases, both newsletters included information and promotional language that went beyond the factual statements in the Company's press releases. The Company had no editorial control over the content in the newsletters and is unaware of the full nature of the advertising activity or the responsible parties.

The Company made inquiries and confirms that it is not aware of any directors, officers or shareholders owning 10% or more of the Company's Common Shares, that may have directly or indirectly been involved in any way with the creation or distribution of promotional materials related to the Company, other than the preparation of the Company's press releases, which was included in the referenced newsletters.

In the ordinary course of business, many of the Company’s officers, directors, and consultants are paid a portion of their fees in common shares, and it is assumed that a portion of such shares are subsequently sold into the market. With the exception of Maryam Amin-Shanjani, the Company’s CFO, no officer, director, or third-party service provider has sold or purchased the Company’s securities within the past 90 days. Ms. Amin-Shanjani has reported her transactions on SEDI in compliance with insider reporting requirements under applicable securities laws. All directors and officers are required to report their purchases and sales of company securities on SEDI, and such filings are up to date in that regard.

The Company has not issued any convertible instruments allowing conversion to equity securities at prices that constituted a discount to the current market rate at the time of the issuance of such convertible instruments. The Company has also not issued shares at a discount to the market price.

About EV Battery Tech

EV Battery Tech is a blockchain and battery technology company with revolutionary, patented Battery Management Systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing electric vehicle (EV) and energy storage solution (ESS) markets. The company has committed to assisting global recycling solutions by offering recycling initiatives using their technology to analyze and fully refurbish used batteries.

Learn more at evbattery.tech

Contact Numbers and Emails 

For further information about the Company, please visit https://www.evbattery.tech. 
For Investor Inquiries, please contact (236) 259-0279 or email info@evbattery.tech. 

FAQ

What are the recent trading trends for CRYBF?

Extreme Vehicle Battery Technologies Corp. has experienced increased trading volumes, particularly a spike on December 9, 2021.

What promotional activities were reported for CRYBF?

The company noted promotional newsletters that included both factual and additional promotional statements about its shares.

Did any insiders trade CRYBF stocks recently?

Aside from CFO Maryam Amin-Shanjani, no officers or directors have sold or purchased the company's securities in the past 90 days.

How does EV Battery Tech engage with the market?

The company has hired multiple marketing firms to enhance brand visibility and promote its goals.

What is the focus of EV Battery Tech?

EV Battery Tech specializes in blockchain and battery technologies aimed at the electric vehicle and energy storage markets.