Richmond, BC, February 3, 2025 – TheNewswire – ABOUND Energy Inc. (“ABOUND” or the “Company”) (CSE: ABND) (OTC PINK: ZAIRF) (FSE: 0E9) in collaboration with the management of Alluvial Capital Corp ("Alluvial'), both companies have mutually agreed to extend the closing date of their acquisition agreement until February 28, 2025. This extension is necessary to finalize the due diligence process and ensure all regulatory, financial, and operational requirements are met to facilitate a seamless transaction.

ABOUND remains fully committed to completing this strategic acquisition, which aligns with its long-term vision for expanding its innovative energy solutions and market presence. The additional time will allow both parties to finalize key assessments, optimize integration strategies, and ensure the transaction proceeds with the highest level of transparency and efficiency.

“This extension underscores the dedication of both ABOUND and Alluvial to a meticulous and responsible due diligence process,” said Keith Morlock, COO of ABOUND Energy. “We appreciate the continued collaboration between our teams and anticipate that, once completed, this acquisition has the potential to create meaningful opportunities that could benefit all stakeholders.”

 

About ABOUND Energy Inc.

ABOUND specializes in developing scalable, environmentally friendly, long-lasting energy technology. Our 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.

 

About ABOUND’s Zaeras™ Technology

Zaeras™ is precision-engineered to meet future energy requirements, with a specific emphasis on simplifying long-duration energy storage. Harnessing the potential of its multi-patented Zaeras™ technology, ABOUND is poised to facilitate the seamless integration of green energy sources into the grid. This is achieved by minimizing curtailment, bridging the gap between supply and demand, and efficiently integrating green energy into the grid. ABOUND's strategic initiatives encompass opportunities for peak demand reduction, leveraging time-of-use arbitrage, participating in value stacking programs, and entering the distributed long-duration energy storage sector. These endeavors are aligned with our central objective of increasing the integration and resiliency of green energy, while stabilizing the grid.

Distinguished by its inherent safety—free from fire or explosion hazards—Zaeras™ guarantees sustained capacity over an extensive lifecycle. Simultaneously, it showcases versatility by independently managing charge and discharge operations. Comparable to other Flow Battery technologies, scaling up the energy capacity of Zaeras™ is as simple as increasing the size of the fuel tank; a cost-effective solution, from kWh to MWh. This is a welcome alternative to the fixed power-to-energy ratio constraints ingrained in traditional systems, such as Li-ion and Zinc Hybrid Batteries.

To learn more about ABOUND’s technology, please visit: https://Abound.Energy

Jason Birmingham, CEO

Email: Investors@Abound.Energy

Ph: +1 (672) 887-9688

 

Notice Regarding Forward Looking Statements

All statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Abound anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking statements.

Forward looking statements in this press release include that the proposed Transaction will be completed as described herein, that the Company will derive benefits from the Transaction as described herein, that the completion of the Transaction will accelerate revenue generation for the Company, the timeline for attainment of revenue, the integration and synergies between the technologies of Alluvial and Abound, the proceeds of the Offering will be used as described herein, that the Company will close the Offering, that we can execute the development and commercialization of a dependable low cost zinc-air battery; that our mass storage system offers both environmental and efficiency benefits; and that we can help meet the needs for secure and reliable power. Abound believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time, but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: that the Company may not enter into a definitive agreement for the Transaction; that the Transaction may not be completed as described herein or at all; that the intended benefits of the Transaction will not be realized; that the Company will not achieve revenue on the timeline described herein or at all; that the technology of Alluvial may not perform as expected; that the Company may not complete the Offering; that the Company may not use the proceeds of the Offering as described herein, that we are not able to raise additional funds as expected on terms that are favorable to the Company or at all; that our technology fails to work as expected or at all; that our technology proves to be too expensive to implement broadly; that customers do not adapt our products for being too complex, costly, or not fitting with their current products or plans; our competitors may offer better or cheaper solutions for battery storage; general economic, market and business conditions; increased costs and expenses; inability to retain qualified employees; our patents may not provide protection as expected and we may infringe on the patents of others; and certain other risks detailed from time to time in Abound’s public disclosure documents, copies of which are available on the Company's SEDAR+ profile at www.sedarplus.ca. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.

The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither the CSE nor any Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.