• Genevieve served in many executive leadership roles, including as CEO at Angostura Holdings Ltd, the world's largest cocktail bitters producer and one of the Caribbean's largest leading rum producers.

• Genevieve has the experience and track record of delivering results and has proven leadership in international business development, revenue growth, and global distribution.

• The new CSO appointment comes as Innovative Beverage Group is set to pursue robust growth following its IPO and Nasdaq listing.

Electrovaya to supply battery systems for IRT's full electric locomotives serving a variety of rail applications including industrial operations, ports, short line railroads, defense, and commuter rail

Management to Host Conference Call Wednesday, October 16, at 5 p.m. ET

• Expected to be immediately accretive

• Adds $9.8 million of annual unaudited revenue and $3.1 million of annual unaudited adjusted EBITDA

• Capital light, highly recurring revenue business in stable and growing market

• Latest acquisition under the Kingsway Search Xcelerator platform

News Release Highlights:

• The Second Amended Agreement clarifies intellectual property ownership, updates payment obligations, and establishes exclusive licensing rights for both parties, facilitating smoother development and future commercialization efforts.

• Achieves breakeven adjusted EBITDA and non-GAAP EPS for the quarter; GAAP net loss improves by $23 million, or 55% year-on-year to $19 million, and GAAP loss per share improves by $0.04 to $0.03

• Operating cash usage beats expectations, improving by $2 million sequentially and $43 million year-over-year

• Revenue for both IoT and Cybersecurity divisions grows double-digit year-over-year; raises bottom end of full-year guidance range for IoT