Revolve Appoints Vice President of Corporate Development and Investor Relations, Grants Incentive Stock Options

VANCOUVER, BC, November 10, 2022 /PRNewswire/ – Revolve Renewable Power Corp. (TSXV: REVV) (“Turn“or the”Company“) is pleased to announce the appointment of Ms. Sunita Prasad as Vice President, Corporate Development and Investor Relations. She brings considerable corporate development and investor relations experience to the Company, having worked in consulting and in-house capacity for public companies in various industries in the Canadian and US markets.

Ms. Prasad will develop and manage a comprehensive investor relations and corporate development program. She will focus on increasing visibility and engagement within the global investment community while enhancing the company’s brand, messaging and strategy as the company continues to deliver on its key strategic objectives. Ms. Prasad has 16 years of experience in corporate development and investor relations and has worked with a range of public companies. As part of her compensation, Ms. Prasad was granted 150,000 incentive stock options with an exercise price of $0.50 and a term of three years and vested immediately.

In addition, the Company has granted incentive stock options for an aggregate of 1,300,000 common shares, subject to regulatory approval, to employees, consultants and directors of the Company under the stock option plan. purchase plan approved at the annual and special meeting held on October 292021.

Stock options are exercisable at a price of $0.50 per share. The options will vest immediately and expire November 7, 2025. A maximum of 10% of the issued and outstanding shares of the Company are reserved for issuance under the Company’s 10% Rollover Stock Option Plan. The options, and all common shares issued upon the exercise of the stock options, are subject to a four-month resale restriction.

About the revolution

Revolve was created in 2012 to capitalize on the growing global demand for renewable energy. Revolve is developing large-scale wind, solar and battery storage projects in the United States and Mexico with a portfolio of approximately 3,600 MW under development. The Company has a second division, Revolve Renewable Business Solutions, which installs and operates distributed generation (or “DG”) assets of less than 20 MW “behind the meter”. Revolve Renewable Business Solutions currently has an operating portfolio of 2.85 MW with an additional 6.2 MW under construction.

The story continues

Revolve has an accomplished management team with a proven track record of moving projects from “greenfield” to “ready-to-build” (or “RTB”) status and successfully closing project sales to major operators large-scale renewable energy projects. To date, Revolve has developed and sold over 300 MW of projects.

Going forward, Revolve is targeting 5,000MW of large-scale projects under development in the United States and Mexicoand at the same time is rapidly growing its portfolio of revenue-generating distributed generation assets.

Forward-looking information

Although Revolve believes, having regard to the experience of its officers and directors, current conditions and expected future developments and other factors which have been deemed appropriate, that the expectations reflected in such forward-looking information are reasonable, it should not not place undue reliance on them as Revolve cannot give any assurance that they will prove to be accurate. When used in this press release, the words “estimate”, “project”, “believe”, “anticipate”, “intend”, “expect”, “plan”, “predict “, “may” or “should” and the negative of these words or such variations or comparable terminology are intended to identify forward-looking statements and information. Forward-looking statements and information in this press release include information relating to Revolve’s business plans and Revolve’s management’s expectations regarding the growth and performance of its business in United States and Mexico, including the planned capacity in MW of its projects; its expansion into the distributed generation market; potential opportunities in the distributed generation market; the completion and timing of development of its planned portfolio of distributed generation projects; completion of the transaction, including final approval of the transaction by TSXV; potential revenues and cash flows generated by its DG division; and the Company’s plans to develop, build and finance rooftop solar, battery storage and energy efficiency projects of up to 5 MW and enter into long-term power purchase agreements for the sale of electricity from projects with underlying customers. These statements and information reflect the current opinion of Revolve and/or Revolve, respectively.

The forward-looking statements contained in this press release are based on current expectations, estimates, projections and assumptions, given the Company’s experience and its perception of historical trends, and include, but are not limited to, expectations, estimates, projections and assumptions regarding the extent of regulation relating to the Company’s projects and Revolve’s ability to continue as a going concern. The risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements and information, including, but not limited to: the effects of weather, disasters and public health crises, including COVID-19; labor availability; disruptions to the Company’s supply chains; changes in the regulatory environment, including the interpretation of production tax credits; armed hostilities and geopolitical conflicts; failure to obtain necessary regulatory approvals on a timely basis, or at all; risks related to the development and potential development of the Company’s projects; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; the availability of tax incentives related to the development of renewable energy projects and the sale of electrical energy; as well as the factors discussed in the sections relating to risk factors discussed in the Company’s continuous disclosure documents filed on SEDAR. These statements and information reflect Revolve’s current view. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or other future events, to differ materially from the results, performance or future achievements expressed or implied by such forward-looking statements.

The forward-looking information contained in this press release represents Revolve’s expectations as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely on such information as of any other date. Revolve does not undertake to update this information at any time, except as required under applicable laws.

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SOURCEReVolve Renewable Power Corp