Clean Power (CSE: MOVE) (OTC: MOTNF) (FWB: 2K6) on Thursday issued a news release to comment on the stock halt on the Frankfurt Exchange and IIROC-imposed trading halt, both on Nov. 24, 2020. According to the update, the company provided clarification on certain statements made in a paid promotional newsletter in Germany about the company’s investment in PowerTap Hydrogen Fueling Corp. The newsletter was published pursuant to the consulting agreement, initially disclosed on Oct. 28, 2020, between the company and First Marketing GmbH (“FMG”), an investor relations and marketing firm based in Heidelberg, Germany, to provide marketing services focused on the European markets. FMG is arm’s-length to the company, however the principals of FMG have purchased shares of Clean Power in the last two private placements, representing approximately 7% of the issued and outstanding shares of MOVE. Under the agreement, the company agreed to pay FMG up to 500,000 euros over a 6-month period to develop required content and artwork and to launch its market awareness programs in the European Union. The company is in the process of reviewing the terms of the agreement with FMG going forward. It is Clean Power’s policy to review and vet all distributed information about the company and its investments. Clean Power understands that a recent article about the company’s investment in PowerTap and PowerTap’s technology may not have contained sufficient explanatory notes for a reader to understand the entire context of the article and could have been interpreted as overly promotional. In this regard, the company, in the update, qualifies certain statements made in the article.
To view the full press release, visit https://ibn.fm/FimSp
About Clean Power Capital Corp.
Clean Power specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in the company’s investments. A copy of Clean Power’s amended and restated investment policy may be found under the company’s profile at www.sedar.com. For more information, visit the company’s website at www.CleanPower.capital
NOTE TO INVESTORS: The latest news and updates relating to MOTNF are available in the company’s newsroom at https://ibn.fm/MOTNF
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