Tantalus Announces Option Grant

Corporate News

Burnaby, BC – April 13, 2021 –– Smart grid technology leader Tantalus Systems (TSXV:GRID) (“Tantalus” or the “Company”) today announced that, in connection with its consulting agreement with Adelaide Capital (“Adelaide”) to provide investor relations consulting services to the Company as previously announced on March 11, 2021, it has granted stock options to Adelaide to purchase up to 100,000 common shares at an exercise price of CND$2.17 (the “Options”).

The Options were granted under and subject to the terms and conditions of the Tantalus Systems Holding Inc. Omnibus Long Term Incentive Plan (the “Plan”) and are subject to the rules and policies of the TSX Venture Exchange (the “Exchange”). The Options vest over a period of 12 months in four equal tranches every three months with the first tranche vesting on June 25, 2021. The Options shall expire on the earlier of 30 days following termination of the consulting agreement between Tantalus and Adelaide and two years from the date of grant (or any other earlier date required by the Plan or the rules/policies of the Exchange).

The investor relations agreement is for a period of one year, which may be extended by agreement of the parties.

Adelaide is principally owned by Deborah Honig and is an arm’s length company based in Toronto, Ontario. Adelaide is a full-service investor relations firm that specializes in small-cap growth companies. As of the date hereof, other than the Options, Adelaide does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest.

About Tantalus

Tantalus is a smart grid technology company that transforms aging one-way grids into future-proofed multi-directional grids that improve the efficiency, reliability and sustainability of public power and electric cooperative utilities and the communities they serve. Our solutions are purpose-built to allow utilities to restore power quickly after major disruptions, adapt to rapidly shifting consumer expectations and population shifts, innovate new solutions based on the adoption of distributed energy resources and evolve their grid infrastructure at their own pace without needless cost or complexity. All this gives our user community the flexibility they need to get the most value from existing infrastructure investments while planning for future requirements.

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

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