China Keli Terminates Transaction with Pt Hydrotech Metal Indonesia

Vancouver, British Columbia--(Newsfile Corp. - April 16, 2024) - China Keli Electric Company Ltd. (NEX: ZKL.H) (the "Company" or "China Keli") announces that it has terminated its previously announced transaction to acquire all of the issued and outstanding shares of PT Hydrotech Metal Indonesia ("HMI").

The Company initially announced the transaction with HMI in the fall of 2021, and received conditional listing approval from the CSE in the spring 2022. Due to adverse market conditions, the Company has not been able to complete the transaction since receiving conditional approval. The parties have now agreed to terminate the transaction. The Company will continue to pursue new business opportunities.

About China Keli

China Keli is currently without an active business, and is listed on the NEX Board of the TSX Venture Exchange.

For further information, please contact:

CHINA KELI ELECTRIC COMPANY LTD.

Philip Lo, Chief Executive Officer
Tel. No.: (852) 5138 1632
Email: philip3336@126.com

Neither the 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 press release.

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