Hypercharge Announces Changes to the Board of Directors

Vancouver, British Columbia–(Newsfile Corp. – July 8, 2022) – Hypercharge Networks Corp. (the “Company” or “Hypercharge“) is pleased to announce the appointments of Vitaly Golomb, and Shahab Samimi, as independent Directors on the Board of Directors of the Company. In order to create room for the new independent directors, the number of directors has been increased to five and Sion Jones has resigned from the Board of Directors.

Vitaly Golomb is a technology investment banker with over 20 years of experience on all sides of the table as a venture-backed CEO, venture capitalist, and M&A advisor. Vitaly has deep expertise in the transportation and mobility sector, in addition to experience in artificial intelligence, software/SaaS, and advanced materials.

Shahab Samimi is an investor and strategic advisor who previously assisted in the allocation of funds at 7 Gate Ventures, a VC fund with offices in San Francisco and Vancouver, investing in a diverse portfolio of early-stage technology companies globally. He has unique and diverse experience investing in early-stage, high growth companies.

“We are pleased to welcome Vitaly and Shahab to the Hypercharge board as their extensive experience in capital markets will strengthen the board and further our commitment to good corporate governance,” said David Bibby, President and CEO. “The Board also thanks Sion Jones for his contributions to the Company and looks forward to his continued work as VP of Operations.”

The Company announces it has granted 310,000 stock options to the new directors at $0.60 per share for a three-year term and 300,000 restricted stock units (“RSUs”). The RSUs shall vest 25% on each of six, twelve, eighteen and twenty-four months. Each RSU represents the right to receive, once vested, one common share in the capital of the Company.

The Company also announces that it has reviewed its corporate governance initiatives, and, as a result, has adopted a new Board Charter, a majority voting policy, and constituted a Compensation and Corporate Governance Committee, which will undertake a review of additional new policies.

On behalf of the Board,
Hypercharge Networks Corp.

David Bibby, President & CEO

About Hypercharge

Hypercharge Networks is a clean technology innovator, connecting communities and driving the world forward by providing smart EV charging solutions, while accelerating the shift towards a carbon neutral future.

Media Contact:
Kyle Green | Senior Marketing Manager
kyle.green@hypercharge.com
604-992-1797

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects” and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning the Company’s intention to file a prospectus to qualify the Hypercharge Shares and list same on the NEO (including, without limitation, the anticipated timing of the completion of the Escrow Release Conditions, the use of proceeds from the Offering, and the satisfaction and/or waiver of the Escrow Release Conditions). Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the respective management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130429