Cvw Cleantech Announces Cfo Transition

CALGARY, May 3, 2023 - CVW CleanTech Inc. (the "Company" or "CVW CleanTech") (TSXV: CVW) today announced the appointment of Joshua Grant as Chief Financial Officer and Corporate Secretary effective May 22, 2023. Mr. Grant succeeds Ingrid Meger who has notified the Company of her intention to pursue other opportunities. Ms. Meger will remain with the Company until mid-May 2023.

"We are very pleased to welcome Josh to CVW CleanTech. He is a well-rounded and experienced professional with extensive finance and accounting experience, and I am confident that his expertise will be an asset to the team," said Akshay Dubey, CEO of CVW CleanTech.

Joshua Grant has over 14 years of experience across the manufacturing, distribution and natural resource sectors. Mr. Grant joins CVW CleanTech from Wesdome Gold Mines Ltd. where he was the finance leader responsible for banking and treasury management, external financial reporting and oversight of the controllership functions. Mr. Grant has also worked at the Director and Controllership levels for a multitude of organizations including Pathways to Education Canada, Multimatic and DoALL Canada, Inc. Mr. Grant started his career with Deloitte as an accounting professional and is a Chartered Professional Accountant in Canada.

"Ms. Meger has been an important part of the leadership team at CVW CleanTech since 2021 and was a key contributor as the Company embarked on its transformation from Titanium Corporation. On behalf of the Company and our Board, we thank her for her dedication and efforts, and wish her well on her future endeavours," added Mr. Dubey.

The Board of Directors of the Company has approved a grant of 300,000 stock options to Mr. Grant. The options will vest after a minimum of 18 months and after attaining certain performance and market-based conditions. The options will have a term of 5 years to expiry and will have an exercise price equal to the closing price of the Company's common shares on the TSX Venture Exchange at the end of the second clear trading following the announcement of the Company's results for the three month period ended March 31, 2023 (or such later dated as may be required by the Company's policies or applicable securities laws).

About CVW CleanTech Inc.

CVW CleanTech is a clean technology innovator that has focused on providing solutions to the mining sector of Canada's oil sands industry. The Company's CVW™ technology provides sustainable solutions to reduce the environmental footprint of the oilsands industry.

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.

SOURCE CVW CleanTech Inc.