Pedro Resources Announces Transaction With Cellcube Energy Storage Systems Inc. Has Been Terminated

VANCOUVER, British Columbia, Dec. 30, 2019 (GLOBE NEWSWIRE) — Pedro Resources Ltd. (TSXV:PED.H) (the “Company”) wishes to announce that the transaction originally announced on October 2, 2019, where Pedro was to acquire all of the assets of Enercube Switchgear Systems Inc. (“Enercube”) and PowerHaz Energy Mobile Solutions Inc. (“PowerHaz”), from Cellcube Energy Storage Systems Inc., has been terminated. Enercube Switchgear Systems Inc. (“Enercube”) filed for Bankruptcy on December 17, 2019 and as a result the transaction is unable to proceed.

About Pedro Resources Ltd.

Pedro Resources Ltd. is a Canadian exploration company listed on the TSX Venture Exchange (symbol PED.H) focused on Technology, vanadium exploration and development.

On behalf of the Board, Pedro Resources Ltd.

Brian Stecyk, Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.