Value Creation Inc. Announces Heartland Complex Regulatory Application Update

Calgary, Alberta--(Newsfile Corp. - May 1, 2023) - In the fourth quarter of 2019, Value Creation Inc. ("VCI") announced the Impact Assessment Process ("IAP") for the expansion of its Heartland Complex from approved processing capacity of 29,890 m3/day (188,000 barrels per day or bpd) to total capacity of 119,240 m3/day (750,000 bpd)…[the Value Chain Solutions - Heartland Expansion ("VCS-H-Ex") project].

The Project was originally designed to use 3 VCI proprietary technologies to produce highest quality fuel products at lowest all-in cost, from diluted bitumen…maximizing margin per barrel of oil processed.

Global responses to Climate Changes have led to rapid replacement of ICE by EV…mobile fuels demands will peak (faster than originally expected)…so it's not the time for building new long life refineries. GHG Emission Reduction will be increasingly important. Oil Sands will face severe head winds. Industry needs Disruptive Transformation to survive and prosper.

VCI has decided to focus on leveraging on its Unique Selective Decarbonization technology ("SDC") to produce Very Refine-able Selective Decarbonized Clean Oils/Blends, at much lower cost than Upgrading...with Low GHG (with pathway to C-neutral).

VCI strives to Catalyse Profitable Transition of Oil Sands Industry to [C-Neutral Clean Oils], paving the way for eventual [Net-Zero Clean Power].

Value Chain Solutions Inc. ("VCS"), VCI's wholly owned subsidiary, will play a pivotal role, providing "commercial business models" for each stage of the transition…to be later implemented at resource regions.

With the new strategy, VCI will withdraw its current Expansion Application and the corresponding IAP, with the intention to submit an application for a large Merchant SDC Complex (with low emissions) upon commercial operation of SDC-1.

VCI is working with Regulatory Authorities to expedite this High Impact Transition, potentially crucial to the Health and Wealth of all stakeholders.

As Stage 2 of its development, VCI plans to submit an application for Salt Cavern development of 477,000 m3 (about 3 million barrels), with integrated operation with SDC. This would enable risk-free capturing of Bitumen Differential Volatility, and could be the most cost-effective strategic reserve option. The salt cavern could be an EPEA application of its own.

For further information, please contact Iva Georgieva at 403-539-4544 or Iva.Georgieva@vctek.com and visit the Value Creation Inc. website at http://www.vctek.com/, or the Value Chain Solutions Inc. website at https://www.vcsb2co.com.

This notice or the information contained herein is not being issued in or into, and may not be distributed directly or indirectly in or into, the United States of America or any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

CAUTION ON FORWARD-LOOKING STATEMENT - DISCLAIMER

This communication is based on information available when this communication was prepared and is provided as a matter of convenience only. VCI makes no warranty or representation, express, implied, statutory or otherwise, as to the accuracy or completeness of the information contained in this communication. VCI disclaims liability for any reliance upon any information or representation contained in this communication, for any omissions from this communication, and for any written or oral communications made by VCI or its representatives in connection with this communication. This communication does not necessarily contain all the information that a recipient may require or desire. Any reliance or use of such information is done at the recipient's sole risk. This communication is not and under no circumstances is it to be construed as an advertisement or offer to sell any securities of VCI. Certain statements contained in this communication may be prospective in nature and constitute forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors that could cause VCI's actual results, performance or achievement to differ materially from those expressed in, or implied by, the forward-looking statements. Accordingly, no assurance can be, and none is given in this communication that any of the forward-looking statements will transpire or occur, or if any of them do so, what benefits VCI will derive therefrom. VCI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164266