Smartcool Provides Business Update

May 26, 2020

Vancouver, B.C. - Smartcool Systems Inc. (TSX.V:SSC; OTC:SSCFF; FSE:R3W) (“Smartcool” or the Company”) reports today that, acting in concert with the Board of Directors of its wholly-owned Nevada subsidiary, Total Energy Concepts Inc. (“TEC), it has removed Damian Smith from the Board of Directors and all offices he held with TEC, including the office of President.  In addition, TEC has dismissed Mr. Smith from his employment with TEC.

The Company anticipates that work in progress will continue within the restrictions of the current pandemic, while it conducts a search for alternative management for the TEC subsidiary.  The Company anticipates that it will retain current staff and the existing TEC office, located in the State of Minnesota.

About Smartcool

Smartcool Systems Inc. provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3 and ESM are Smartcool’s unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by up to 40%.

Total Energy Concepts (TEC), a wholly owned subsidiary of Smartcool, is a national leader in Power Protection, Energy Management, Power Quality, Facility Grounding, and Lighting Solutions that help companies improve their bottom line by reducing expenses that drastically cut into Company profits. TEC focuses on a holistic approach to energy efficiency with proprietary technologies for power factor correction and third-party technologies including LED, voltage conditioning and intelligent motor controls.

For more information please www.smartcool.net and www.totalenergyconcepts.com 

Investor inquiries

Mike Kordysz

Vice President, Business Development

TEL +1 604 904 8632 EMAIL mike.kordysz@smartcool.net 

Legal Notice Regarding Forward Looking Statements

This news release contains “forward looking statements”.  Forward-looking statements are projections of financial performance or future events.  Forward-looking statements can be identified by the use of words such as “expect”, “anticipate”, “in tend”, “plan”, “believe”, “estimate” and words of similar meaning.  Forward-looking statements are based on management’s current expectations and assumptions, and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward looking statements. Forward-looking statements in this news release include those concerning the Company’s belief in the energy savings that can be achieved through installation of the Company’s products and that these installations lead to reduced maintenance, downtime expenses, future cost savings, and improvements in the bottom line.  These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statements.  Risks that may prevent or delay the forward-looking statements from coming to fruition as anticipated include the availability of working capital, risks inherent in product development, as well as market factors that may increase costs or time to market.  It is our policy not to update forward looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company’s website, www.smartcool.net.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.