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    AOC   CA00775L2057

ADVANTAGEWON OIL CORPORATION

(AOC)
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Starvolt Power Inc. Announces Exclusive Agreement with Luoyang Northern EK-CHOR Motorcycle Co., LTD.

08/16/2021 | 09:05am EST

Toronto, Ontario--(Newsfile Corp. - August 16, 2021) - Advantagewon Oil Corp., (CSE: AOC) (OTC Pink: ANTGF), (the "Corporation", or "AOC") is pleased to announce that it's investee company, Starvolt Power Inc. ("Starvolt"), a developer of technology utilizing flexible solar panels, and state of the art batteries, announced today it had signed an exclusive manufacturing partnership agreement with Luoyang Northern EK-Chor Motorcycle Co., LTD ("Luoyang"). This manufacturing partnership is an important step towards Starvolt's expansion in becoming a global leader in providing low-cost energy solutions and Electric Vehicles.

Mr. Carlos Brasil, CEO of AOC stated: "This is a significant milestone for Starvolt. Securing this relationship with Luoyang plays an integral part in the company's growth and sustainable mobility ecosystem. We are excited about what this partnership will offer to business' and consumers alike in the ability to reduce their carbon footprint."

As one of the largest Chinese manufacturers of electric cars, motorcycles, scooters, and bicycles, Luoyang brings advanced global production and testing, top tier Research & Development facilities, and first-class management and technical personnel. Luoyang will operate as the exclusive manufacturer for Starvolt-designed Advanced Electric Vehicles.

"We are pleased to have partnered with Starvolt. This agreement gives us the opportunity to expand globally," said Victor Chen, Director of Global Business Development at Luoyang. "We can now offer Advanced Electric Vehicle products to a greater variety of consumer markets."

As part of this partnership, Starvolt will launch an innovative line of Advanced Electric Vehicles featuring its solar technology, revolutionizing urban transportation. This exclusive agreement will also include the rebranding of Luoyang's existing line-up of electric cars, motorcycles, scooters, and bicycles, under the Starvolt brand.

Increasing urban pollution has prompted Starvolt Power Inc. to develop a sustainable mobility ecosystem that will offer a complete suite of low-cost electrical vehicle products, and services, including proprietary hybrid on and off grid renewable power supply charging stations, enabling infinite and eco-friendly mobility to business and consumers.

About Starvolt Power Inc.

Starvolt Power Inc. is a energy solution company. Established in 2020, the Company is dedicated to providing low-cost energy solutions and sustainable mobility through our extensive and innovative product line-up of Advanced Electric Vehicles. The Company implements practical methodologies to transform concept designs into tangible outcomes that advance industry potential and sustainable logistics. To learn more about Starvolt please visit the Company website at http://www.starvolt.com/.

About Luoyang Northern EK-Chor Motorcycle Co., LTD

LUOYANG NORTHERN EK-CHOR MOTORCYCLE CO., LTD. ("Luoyang") is an international independent corporation, specializing in the manufacturing of motorcycles and engines, such as ATV, electrical bicycle, electric generator, electric scooter, tricycle, and three-wheeled vehicle. Producing 1 million units per year. Established in 1992, the company advanced computerized technology and purchasing Hi-tech & robotic equipment from Japan, Germany, Italy, USA. Since 1993, a total investment of USD 40 million dollars have been added to build assembly, paint & coat, test workshop and a 40,000m2 integrated workshop which combines parts delivery, raw treatment, engine-build, total assembly and testing together.

About Advantagewon Oil Corp.

Advantagewon is focused on becoming a diverse energy producer. We currently have silos in oil, gas and solar. Advantagewon's common shares are listed on the OTC Markets in the United States and on the Canadian Securities Exchange ("CSE") in Canada. Advantagewon is a member of the CSE Composite Index (CSE: AOC). For more information please visit www.aoc-oil.com.

For further information please contact:

Mr. Paul Haber
Executive Chairman
Advantagewon Oil Corp.
T: (416) 318-6501

Mr. Frank Kordy
Secretary & Director
Advantagewon Oil Corp.
T: (647) 466-4037

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation 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. 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. 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 CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.

- 30 -

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93232


© Newsfilecorp 2021
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Financials
Sales 2020 0,26  0,20  0,20 
Net income 2020 -1,32 M -1,03 M -1,03 M
Net Debt 2020 0,26 M 0,21 M 0,21 M
P/E ratio 2020 -2,00x
Yield 2020 -
Capitalization 12,1 M 9,47 M 9,48 M
EV / Sales 2019 -
EV / Sales 2020 11 945 794x
Nbr of Employees -
Free-Float 76,8%
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Managers and Directors
Carlos Brasil Chief Executive Officer
Victor Johan Hugo Chief Financial Officer
Paul Haber Executive Chairman
Stan Dimakos Independent Director
Frank Kordy Secretary & Director
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