Mr. Jason Birmingham reports

ABOUND ANNOUNCES 3-FOR-1 SHARE CONSOLIDATION

Abound Energy Inc. has proposed a consolidation of its issued and outstanding common shares on the basis of one postconsolidation common share for three preconsolidation common shares, subject to the approval of the Canadian Securities Exchange. The consolidation was approved by the company's directors in accordance with the company's articles.

The proposed share consolidation would result in the number of issued and outstanding common shares being reduced from 52,278,754 common shares currently issued and outstanding to approximately 17,426,251 postconsolidation common shares, subject to rounding.

No fractional common shares will be issued pursuant to the consolidation. Fractional shares of less than one-half of a common share will be cancelled, and fractional shares equal to or greater than one-half of a common share will be rounded up to the nearest whole common share. No cash consideration will be paid in respect of fractional shares. The company will provide additional details regarding the effective date and postconsolidation trading information upon receipt of all necessary approvals.

All outstanding options, warrants and other convertible securities will be adjusted proportionally upon the effective date of the consolidation, with the number of underlying securities reduced and exercise prices increased by a factor of three.

The consolidation will not affect shareholders' proportional ownership in the company, except for minor adjustments resulting from fractional share rounding.

About Abound Energy Inc.

Abound specializes in developing scalable, environmentally friendly, long-lasting energy technology. The company's patented Zaeras long-duration energy storage technology, leveraging zinc-air chemistry, guarantees the storage and on-demand delivery of electricity without the limitations or environmental risks associated with current market leaders.

About Abound's Zaeras technology

Zaeras is precision-engineered to meet future energy requirements, with a specific emphasis on simplifying long-duration energy storage. Harnessing the potential of its multipatented Zaeras technology, Abound is poised to facilitate the seamless integration of green energy sources into the grid. This is achieved by minimizing curtailment, bridging the gap between supply and demand, and efficiently integrating green energy into the grid. Abound's strategic initiatives encompass opportunities for peak demand reduction, leveraging time-of-use arbitrage, participating in value stacking programs and entering the distributed long-duration energy storage sector. These endeavours are aligned with the company's central objective of increasing the integration and resiliency of green energy, while stabilizing the grid.

Distinguished by its inherent safety -- free from fire or explosion hazards -- Zaeras guarantees sustained capacity over an extensive life cycle. Simultaneously, it showcases versatility by independently managing charge and discharge operations. Comparable with other flow battery technologies, scaling up the energy capacity of Zaeras is as simple as increasing the size of the fuel tank, a cost-effective solution, from kilowatt-hours to megawatt-hours. This is a welcome alternative to the fixed power-to-energy ratio constraints ingrained in traditional systems, such as lithium-ion and zinc hybrid batteries.

We seek Safe Harbor.