Vancouver, British Columbia--(Newsfile Corp. - August 19, 2024) - Hybrid Power Solutions Inc. (CSE: HPSS) (OTCQB: HPSIF) (FSE: E092) ("Hybrid" or the "Company") announces that it has amended the terms of its outstanding secured convertible debentures representing a principal amount of approximately $161,100 (the "Debentures"). The Debentures are held by one arm's length party (the "Debentureholder") and were originally purchased in August, 2023 (see the Company's news release dated August 29, 2023 for more information). The Debentures were initially set to mature on August 18, 2024 and the Debentureholder agreed to extend this maturity date by 60 days to October 17, 2024. In addition, the conversion price of the Debentures has been decreased from $0.32 per share to $0.14 per share. Other than the amendments disclosed above, the original terms of the Debentures remain in full force and effect.

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On behalf of the Company:

Francois Byrne
CEO and Director

About Hybrid Power Solutions Inc.

Hybrid Power Solutions Inc. is a Canadian clean energy innovator listed on the Canadian Securities Exchange under the symbol "HPSS". The company specializes in developing sustainable energy solutions that redefine power access and storage across industries. With a focus on innovation and environmental responsibility, Hybrid continues to lead the charge in providing scalable, cost-effective power solutions for a greener future.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.