Jade Power Announces Director Resignation

TORONTO, May 16, 2024 (GLOBE NEWSWIRE) -- Jade Power Trust (“Jade Power” or the “Trust”) (TSXV: JPWR.H) announces the resignation of John Huxley from the Board of Directors (the “Board”) of Jade Power Administrator Inc., administrator of the Trust, and its affiliates.

“On behalf of the Trust, we would like to thank John for his years of dedicated service to the Board and audit committee. We wish him all the best in his future endeavours,” said Mr. David Barclay, CEO of Jade Power.

The Board is considering the Trust’s options with respect to the future composition of the Board and will announce a replacement Board member in due course.

For further information, please contact:

David Barclay Chief Executive Officer [phone] [e-mail]

About Jade Power

The Trust, through its direct and indirect subsidiaries in Canada, the Netherlands and Romania, was formed to acquire interests in renewable energy assets in Romania, other countries in Europe and abroad that can provide stable cash flow to the Trust and a suitable risk-adjusted return on investment. All material information about the Trust may be found under Jade Power's issuer profile at www.sedarplus.ca

Forward-Looking Statements

Statements in this press release contain forward-looking information. Such forward-looking information may be identified by words such as “anticipates”, “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may” and “will”. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the Trust’s control. Such risks and uncertainties include but are not limited to risks related to the Trust’s strategy going forward. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Readers are cautioned that the foregoing list of factors is not exhaustive.

Details of additional risk factors relating to the Trust and its business, generally, are discussed under the heading “Business Risks and Uncertainties” in the Trust's annual Management's Discussion & Analysis for the year ended December 31, 2023, a copy of which is available on Jade Power's SEDAR + profile at www.sedarplus.ca. These statements speak only as of the date of this press release. Except as otherwise required by applicable securities statutes or regulation, Jade Power expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.