Cannell Capital LLC Sends Letter to VIA Optronics Chairman Dr. Heiko Frank

Alta, Wyoming--(Newsfile Corp. - November 6, 2023) - J. Carlo Cannell, the Managing Member of Cannell Capital LLC, sent the following letter to VIA Optronics AG Chairman Dr. Heiko Frank on Monday October 30, 2023.

A copy of Mr. Cannell's letter to Dr. Frank follows below.

October 30, 2023

Mr. Heiko Frank CHM
Chairman of the Supervisory Board
VIA Optronics AG
Siebold Street 18
90411 Nuremberg
Deutschland

Dear Heiko,

Thank you for your time on October 18, 2023, during which we exchanged ideas on ways to restore some value to injured shareholders of VIA Optronics AG ("VIAO"),^[1] which ways may include:

1. Filing Form-15 with the SEC to shrug off the expenses of being public;^[2]
2. Hiring an advisor whose mandate may include the sale of VIAO; and
3. Refreshing the Supervisory Board to (i) to include Chuck Gillman; and (ii) the resignation of directors who have neither purchased shares on their own account checkbook nor taken decisive action to stop the enormous destruction of value created by VIAO's chronic inability to file its financials or hold its annual general meeting in a timely fashion - delay upon delay upon delay.

Please recall that Chuck has tremendous expertise in the mechanics of having a company "go dark." Chuck was a large shareholder of Collins Industries which went dark and then produced great shareholder returns after going dark.

Please also recall that we were largely in agreement with the damage to VIAO and the manner in which to remediate such damage. I hope your meetings with advisors in New York City, which, in part, was the purpose of your visit, were fruitful. But as you may also recall from our conversation on October 18, after two weeks I said I would commence a campaign for the benefit of all shareholders which campaign would likely (and sadly):

1. Point out in public press releases the miscues of not only VIAO but its Supervisory Board which, ultimately is responsible for not acting sooner and with greater deliberation to replace those responsible its late filings; and
2. Demand the appointment of a credible advisor.

The two week "grace" period ends this Wednesday. If you have some action to report, some evidence that you are taking your job and responsibility seriously, I would posit that now is the time to do so.

Your own reputation is at risk. Please take action now.

Best regards,

Sincerely,

/x/

J. Carlo Cannell
Managing Member

CONTACT INFORMATION

Stephen C. Wagstaff
Chief Financial Officer
1-307-733-2284
scw@cannellcap.com

^[1] VIAO has returned (80%) during the last two years versus a decline of (29%) for the Russell 2000 Index.

^[2] As discussed, your cost of being public is an unacceptable percentage of market capitalization - about 18-29% percent in fact given your own estimate that the cost of remaining public is $5-8 million per year. We accept the fact that to file the Form 15 the company may need to redomicile from Germany to Delaware or another state in the USA.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186421