ABOUND Energy Announces Extension of Alluvial Capital's Deal Closing to February 28, 2025

(TheNewswire)

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

ABOUND remains fully committed to completing thisstrategic acquisition, which aligns with its long-term vision forexpanding its innovative energy solutions and market presence. Theadditional time will allow both parties to finalize key assessments,optimize integration strategies, and ensure the transaction proceedswith the highest level of transparency and efficiency.

“This extension underscores the dedication of bothABOUND and Alluvial to a meticulous and responsible due diligenceprocess,” said Keith Morlock, COO of ABOUND Energy. “We appreciatethe continued collaboration between our teams and anticipate that,once completed, this acquisition has the potential to createmeaningful opportunities that could benefit allstakeholders.”

About ABOUND Energy Inc.

ABOUND specializes in developing scalable,environmentally friendly, long-lasting energy technology. Our patentedZaeras™ long-duration energy storage technology, leveraging zinc-airchemistry, guarantees the storage and on-demand delivery ofelectricity without the limitations or environmental risks associatedwith current market leaders.

About ABOUND’s Zaeras™Technology

Zaeras™ is precision-engineered to meet future energyrequirements, with a specific emphasis on simplifying long-durationenergy storage. Harnessing the potential of its multi-patentedZaeras™ technology, ABOUND is poised to facilitate the seamlessintegration of green energy sources into the grid. This is achieved byminimizing curtailment, bridging the gap between supply and demand,and efficiently integrating green energy into the grid. ABOUND'sstrategic initiatives encompass opportunities for peak demandreduction, leveraging time-of-use arbitrage, participating in valuestacking programs, and entering the distributed long-duration energystorage sector. These endeavors are aligned with our central objectiveof increasing the integration and resiliency of green energy, whilestabilizing the grid.

Distinguished by its inherent safety—free from fireor explosion hazards—Zaeras™ guarantees sustained capacity over anextensive lifecycle. Simultaneously, it showcases versatility byindependently managing charge and discharge operations. Comparable toother Flow Battery technologies, scaling up the energy capacity ofZaeras™ is as simple as increasing the size of the fuel tank; acost-effective solution, from kWh to MWh. This is a welcomealternative to the fixed power-to-energy ratio constraints ingrainedin traditional systems, such as Li-ion and Zinc HybridBatteries.

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

Jason Birmingham, CEO

Email: Investors@Abound.Energy

Ph: +1 (672) 887-9688

Notice Regarding Forward LookingStatements

All statements and disclosures, other than those ofhistorical fact, which address activities, events, outcomes, resultsor developments that Abound anticipates or expects may or will occurin the future (in whole or in part) should be consideredforward-looking statements.

Forward looking statements in this press releaseinclude that the proposed Transaction will be completed as describedherein, that the Company will derive benefits from the Transaction asdescribed herein, that the completion of the Transaction willaccelerate revenue generation for the Company, the timeline forattainment of revenue, the integration and synergies between thetechnologies of Alluvial and Abound, the proceeds of the Offering willbe used as described herein, that the Company will close the Offering,that we can execute the development and commercialization of adependable low cost zinc-air battery; that our mass storage systemoffers both environmental and efficiency benefits; and that we canhelp meet the needs for secure and reliable power. Abound believes thematerial factors, expectations and assumptions reflected in theforward-looking statements are reasonable at this time, but noassurance can be given that these factors, expectations andassumptions will prove to be correct. The forward-looking statementsincluded in this news release are not guarantees of futureperformance. Such forward-looking statements involve known and unknownrisks, uncertainties and other factors that may cause actual resultsor events to differ materially from those anticipated in suchforward-looking statements including, without limitation: that theCompany may not enter into a definitive agreement for the Transaction;that the Transaction may not be completed as described herein or atall; that the intended benefits of the Transaction will not berealized; that the Company will not achieve revenue on the timelinedescribed herein or at all; that the technology of Alluvial may notperform as expected; that the Company may not complete the Offering;that the Company may not use the proceeds of the Offering as describedherein, that we are not able to raise additional funds as expected onterms that are favorable to the Company or at all; that our technologyfails to work as expected or at all; that our technology proves to betoo expensive to implement broadly; that customers do not adapt ourproducts for being too complex, costly, or not fitting with theircurrent products or plans; our competitors may offer better or cheapersolutions for battery storage; general economic, market and businessconditions; increased costs and expenses; inability to retainqualified employees; our patents may not provide protection asexpected and we may infringe on the patents of others; and certainother risks detailed from time to time in Abound’s public disclosuredocuments, copies of which are available on the Company's SEDAR+profile at www.sedarplus.ca. Readers are cautioned that the foregoinglist of factors is not exhaustive and are cautioned not to place unduereliance on these forward-looking statements.

The forward-looking statements contained in this newsrelease are made as of the date hereof and the Company undertakes noobligations to update publicly or revise any forward-lookingstatements, whether as a result of new information, future events orotherwise, unless so required by applicable securities laws.

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

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