Power Group Announces Share Consolidation

POWER GROUP ANNOUNCES SHARE CONSOLIDATION

August 26, 2024 – Vancouver, BC - Power Group Proje cts Corp. (TSXV: PGP) (the "Company ")

announced today it plans to consolidate all of its issued and outstanding common shares (each, a “ Common

Share ”, the “ Common Shares ”) on the basis of ten (10) existing Common Shares for one (1) new Common

Share (the “ Consolidation ”).

Upon completion of the Consolidation, the Company is expected to have 11,956,056 issued and outstanding

Common Shares. No fractional shares will be issued because of the Consolidation and all fractional interests

will be rounded to the nearest whole number of Comm on Shares. Each shareholder’s percentage of

ownership in the Company and proportional voting power will remain unchanged after the Consolidation,

except for minor changes and adjustments resulting from the treatment of fractional shares.

Management of the Company believes that the proposed Consolidation will position the Company to gain

greater access to capital given the current market conditions.

The Company does not intend to change its name or its current trading symbol in connect with the proposed

Consolidation. The Consolidation is subject to all necessary regulatory approvals. In a subsequent new s

release, the Company will confirm the effective dat e of the Consolidation and other pertinent details,

including the new CUSIP and ISIN as a result of the Consolidation.

For further information, please contact:

Aleem Nathwani

Chief Executive Officer and Chairman

Tel: (604) 290-7073

Email: [email protected]

Neither the 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.

Forward-Looking Statements

Statements in this release may contain forward-looking information. Any statements in this press release that are not statements of

historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as

“may”, “should”, “would”, “anticipate”, “expects”, and similar expressions. The reader is cautioned th at assumptions used in

the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results

to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many

of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking

information. Such information, although considered reasonable by management at the time of preparation , may prove to be

incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press

release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are

made as of the date of this press release. The Company does not undertake any obligation to update publicly or to revise any of the

included forward-looking statements, whether as a r esult of new information, future events or otherwis e, except as required by

securities law.