CO2 Lock Corp. Announces the Appointment of Mr. Scott Larson as Chief Executive Officer

Vancouver, British Columbia--(Newsfile Corp. - May 6, 2024) - CO2 Lock Corp. ("CO2 Lock" or the "Company") is pleased to announce the appointment of Mr. Scott Larson as the President and Chief Executive Officer (CEO). Mr. Larson brings to CO2 Lock over 25 years of combined corporate finance, technology development and entrepreneurial experience.

"We are very pleased to welcome Scott as CO2 Lock's CEO, who will lead us along the next phase of our growth in pursuit of large-scale, low-cost and permanent carbon capture and storage," commented CO2 Lock's Director, Peter Bradshaw. "CO2 Lock is at a pivotal stage of development. In late-2023 CO2 Lock completed a comprehensive field program at our site in central British Columbia, including the first-ever successful injection of CO2 into a brucite-rich ultramafic deposit. Scott will be leading our next funding round and the execution of a large-scale pilot program in early 2025, which will result in the first commercial carbon mineralization project in British Columbia."

On March 30, 2022, FPX Nickel Corp. ("FPX") announced the formation of CO2 Lock to greatly expand on the five years of laboratory and field research into CO2 mineralization using material from its Baptiste deposit in the Decar Nickel District. This work, conducted jointly with the University of British Columbia and Natural Resources Canada, demonstrated that the geology at Decar is particularly favorable for mineralizing CO2, especially where the mineral brucite is present. FPX's international exploration has concluded that mineral deposits of this nature have the potential for mineralizing CO2 at an enormous scale.

"The opportunity to be part of a technology and process that will allow us to sequester carbon permanently, on a global scale, is very compelling," said Scott Larson. "I'm looking forward to building value, scaling up the Company, and developing partnerships throughout the carbon capture and cleantech sector."

Mr. Larson brings over 25 years of combined corporate finance, technology development and entrepreneurial experience to CO2 Lock. Before joining CO2 Lock Mr. Larson was CEO and co-founder of SpaceAlpha, an earth observation company building synthetic aperture radar technology and Helios Wire, a satellite company building out a space-enabled IoT/M2M network which was successfully sold. He was also previously CEO and co-founder of UrtheCast, scaling the Company from inception, taking it public on the Toronto Stock Exchange, raising $200 million, and leading the company to 250 employees with seven offices around the world.

Mr. Larson assumes the role of CO2 Lock's CEO from Mr. Cooper Quinn. On behalf of the Board of Directors, we extend our thanks to Mr. Quinn for his commitment and contributions to the company.

For further information on CO2 Lock carbon mineralization test work, see the Company's news releases dated January 25, 2024.

About CO2 Lock Corp.

CO2 Lock's vision is to commercialize the Carbon Capture and Storage (CCS) potential of ultramafic brucite-rich serpentinized peridotite host rocks, with a mission to license or construct and operate commercial CCS projects capable of permanently and profitably locking away hundreds of millions of tonnes of CO2 per year at scale. In pursuit of this objective, CO2 Lock will execute exploration and engineering activities to advance the development of large-scale carbon operations capable of in-situ mineralizing carbon dioxide in these rocks and associated carbon-depleted waters. CO2 Lock's website is accessible at www.co2lockcorp.com.

On behalf of CO2 Lock Corp.
"Peter Bradshaw"
Peter Bradshaw, Director and Scientific Advisor

For more information or media inquiries, please view the Company's website at www.CO2lockcorp.com, or contact us at info@CO2lockcorp.com.

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208142