UGE Engages Sophic Capital for Capital Markets Advisory

Toronto, Ontario--(Newsfile Corp. - July 15, 2020) - UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the "Company" or "UGE"), a leader in commercial and community solar energy solutions, announced today that it has appointed Sophic Capital Inc. ("Sophic Capital" or "Sophic") as its Capital Markets advisor. Sophic Capital is a comprehensive capital markets advisory firm and will focus on increasing investor awareness of UGE by developing a comprehensive communications strategy and introducing UGE to investment advisors, investment dealers, institutions and other financial professionals.

"Sophic Capital has followed UGE for the past two years and have been great supporters of our story," said UGE International CEO Nick Blitterswyk. "As we continue to build momentum in the business by focusing on self-developed projects in the U.S. and Philippines, we look forward to leveraging Sophic's expertise and relationships to communicate our story to a broader base of investors."

"UGE International's management has done an outstanding job transitioning and scaling," said Sean Peasgood, CEO of Sophic Capital. "Regulations, especially in the northeast U.S. region, lead us to believe that the Company's pipeline and backlog conversion is starting to accelerate, and UGE clients whom we've spoken with have not only extolled UGE's commitment to deliver on what is promised but also have recommended UGE to their peers. These endorsements along with a management team that has a significant equity stake plus a business that addresses ESG, renewables, and solar energy themes solidifies our conviction that UGE is an undiscovered story that will resonate very well in the investment community. On behalf of everyone at Sophic Capital, I want to thank UGE for selecting us, and we look forward to communicating their story to investors."

UGE International's engagement with Sophic Capital is a 12-month term, on a fee-for-services basis of CAD$7,000 per month. In addition, UGE has granted Sophic 300,000 options to purchase UGE shares at a price of $0.43 per share. The options will vest in equal amounts of 75,000 each quarter over 12 months and will expire on July 15, 2022.

About UGE International Ltd.

UGE delivers immediate savings to businesses through the low cost of solar energy. We help commercial and industrial clients become more competitive by providing low cost distributed renewable energy solutions at no upfront cost and maximum long-term benefit. With over 400MW of global experience, we work daily to power a more sustainable world. Visit us at www.ugei.com.

For more information, contact:

Robert van Duynhoven, UGE International
917 720 5685
investors@ugei.com

Sean Peasgood, Sophic Capital
(647) 799-3033
Sean@SophicCapital.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59829

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