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CellCube Energy Storage Systems Inc. Announces Board of Director Changes

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TORONTO, Feb. 21, 2020 (GLOBE NEWSWIRE) -- CellCube Energy Storage Systems Inc. ("CellCube") (CSE:CUBE) (OTCQB:CECBF) (Frankfurt 01X, WKN A2JMGP), and on behalf of its wholly-owned subsidiaries Enerox GmbH ("Enerox") and Enercube Switchgear Systems Inc. ("Enercube"), announces a change in the Board of Directors.

On January 17, 2020 at the Annual General Meeting held in Toronto, Mr. Chris Syme was appointed to the Board of Directors. Resigning from the Board were Mr. Michael Nobrega, Mr. Bruno Arnold and Mr. Stefan Schauss. The Board of Directors want to thank Mr. Nobrega, Mr. Arnold and Mr. Schauss for their service and wishes them well in their future endeavours.

Mr. Chris Syme has over 19 years of capital markets experience and is currently working in investment banking at an exempt market dealer. Mr. Syme has held senior positions at several investment dealers where he has been involved in numerous public market transactions for various companies in a diversified range of sectors. Mr. Syme has a BComm from Ryerson University with a focus in Economics and Finance.

After these changes, the New Board of Directors is Mr. Brett Whalen, Mr. Henrik Mikkelsen and Mr. Chris Syme.

About CellCube Energy Storage Systems Inc.

CellCube is a Canadian public company listed on the Canadian Securities Exchange (symbol CUBE), the OTCBB (symbol CECBF), and the Frankfurt Exchange (Symbol 01X, WKN A2JMGP) focused on the fast-growing energy storage industry which is driven by the large increase in demand for renewable energy.

For further information please contact:

CellCube Energy Storage Systems Inc.
Brett Whalen, CEO, Director
1 800 882 3213
Email: info@cellcubeenergystorage.com 
www.cellcubeenergystorage.com

This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Parties expect to occur; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Parties' management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release and the Parties' respective annual and quarterly management's discussion and analysis filed at www.sedar.com. Except as required by the securities disclosure laws and regulations applicable to the Parties, the Parties undertake no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Neither the CSE nor the TSXV (as that term is defined in the policies of the CSE or the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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