Star Metro - CF Energy Announces Company Updates

Haitang Bay Integrated Smart Energy Project Government Grant

The Company is pleased to announce its controlled subsidiary, EDF Changfeng (Sanya) Energy Co., Ltd. ("EDF CF"), which holds the Haitang Bay Integrated Smart Energy Project (the "Haitang Bay Project"), has received the first installment of a grant under the National Development and Reform Commission Low Carbon Investment Grant (the "Grant") granted out of the national budget for important low carbon projects in China to the sum of RMB 18 million (approx. CAD 3.5 million). The Grant, which represents both an incentive grant and a recognition of the project's status in Hainan as a key low carbon demonstration project, is to be used exclusively in support of the continuing development of the Haitang Bay Project. The second and final installment of the Grant is expected to be the same amount as this first installment, in accordance with the timeline of the project.

Option Enforcement Process

CF Energy announces the recent British Columbia Supreme Court (the "Court") decision regarding a petition by a shareholder of the Company (the "Petitioning Shareholder") to pursue, in place of the Company, enforcement of the loan discharge agreement for the late Mr. Lin Huajun ("Mr. Lin") to subscribe for the shares of the Company (the "LDA") in the Ontario courts. While the Court has granted the Petitioning Shareholder the ability to proceed with an action on behalf of the Company, CF Energy and the special committee of independent directors are actively reviewing its legal options with its legal counsel. For the avoidance of doubt, the Company would like to emphasis and wishes its shareholders to note that, while reviewing the petition and in arriving at its decision, the Court did not identify or make findings of any wrongdoings against the Company or its board of directors.

The Company remains focused on protecting shareholder value and will continue to act in the best interests of the Company and all its stakeholders.

CF Energy Chairman Lin Siyin Honored as 2025 Sanya "March 8th Red-Banner Pacesetter"

The Company is proud to announce that Ms. Siyin Lin, Chair and CEO of the Company has been named a 2025 Sanya "March 8th Red-Banner Pacesetter."

This prestigious award is an honor for women in China, recognizing outstanding contributions to economic and social development. It celebrates Ms. Lin's exceptional leadership in advancing Sanya's clean energy infrastructure and her commitment to corporate social responsibility.

The "March 8th Red-Banner Pacesetter" (三八红旗手) award was launched by the All-China Women's Federation in 1960. It is the highest honor presented to women in China. The first selection event was held in 1960, with winners initially being exemplary workers in agriculture and industry. Since China's Reform and Opening-up Policy, the federation has presented the awards annually.

The Haitang Bay Smart Energy Project

The Haitang Bay Smart Energy Project, which combines the use of multiple clean energy sources, including solar, hydro, electricity, and natural gas (CCHP/Co-Gen), is to supply cooling, heating, as well as hot water to the hotels, shopping centers, and households in the Haitang Bay area of Sanya City, the Hainan Province, the PRC. This project is conducted through EDF CF, established between CF Energy and the French EDF Group with a 30-year concession right agreement which gives EDF CF the exclusive right to build, own and operate four energy processing stations in Haitang Bay. The project is considered as a leading integrated smart energy program in the PRC's energy market. Various advanced technologies have been applied throughout its entire pre-evaluation, construction designs and operational plans.

About CF Energy Corp. (Previously known as: Changfeng Energy Inc.)

CF Energy Corp. is a Canadian public company currently traded on the Toronto Venture Exchange ("TSX-V") under the stock symbol "CFY". It is an integrated energy provider and natural gas distribution company (or natural gas utility) in the PRC. CF Energy strives to combine leading clean energy technology with natural gas usage to provide sustainable energy to its customer base in the PRC. In 2009, CF Energy was recognized as being one of China's Top Ten Most Influential Brands in the Natural Gas Industry and in 2019, ranked amongst the 2019 TSX Venture 50 top performers on the TSXV for the 2018 year.

About EDF Group

A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy. The Group is involved in supplying energy and services to approximately 37.1 million customers, of which 26.2 million are in France.

CONTACT INFORMATION

Corporate Investment Relations

Yongqiang Shan
Chief Financial Officer
[email protected]

Charles Wang
Secretary of the Board
[email protected]

Frederick Wong
Director of the Board
[email protected]

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements and forward-looking information (collectively, "Forward-Looking Statements"). All statements, other than statements of historical fact, included or incorporated by reference in this document are Forward-Looking Statements, including statements regarding activities, events or developments that the Company expects or anticipates may occur in the future. These Forward-Looking statements can be identified by the use of forward-looking words such as "will", "expect", "intend", "plan", "estimate", "anticipate", "believe" or "continue" or similar words or the negative thereof. No assurance can be given that the plans, intentions or expectations or assumptions upon which these Forward-Looking Statements are based will prove to be correct and such Forward-Looking Statements included in this news release should not be unduly relied upon.

Although management believes that the expectations represented in such Forward-Looking Statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such Forward-Looking Statements are not a guarantee of performance and involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such Forward-Looking Statements. These factors include, without limitation, no significant and continuing adverse changes in general economic conditions or conditions in the financial markets. Readers are cautioned that all Forward-Looking Statements involve risks and uncertainties, including those risks and uncertainties detailed in the Corporation's filings with applicable Canadian securities regulatory authorities, copies of which are available at www.sedarplus.ca. The Company urges readers to carefully consider those factors.

The Forward-Looking Statements included in this news release are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: CF Energy Corp.

View the original press release on ACCESS Newswire

J.Campbell--SMC