Aqua Power Systems Inc. announced that on January 9, 2023, Stephen Carnes, CEO and President, submitted his resignation as Chief Executive Officer of the Company and the Company's Board of Directors simultaneously elected Robert Morris to be appointed as the Company's new CEO. The Company accepted Mr. Carnes's resignation as CEO simultaneously with Mr. Morris's acceptance of the appointment as CEO. Mr. Morris has been on the Company's Board of Directors since previously being appointed on April 27, 2022.

Mr. Carnes shall remain on the Company's Board of Directors and remain the Company's President.