Avila Energy Corporation announced that it has entered into a loan agreement for an amount of $5,994,314 relating to its power generation, carbon capture and sequestration facility located in West Central Alberta. The power generation loan is an unsecured loan of a principal amount of $5,994. The payment terms are interest only for two years prior to receiving a request to commence construction and commissioning of the Power Generation Facility.

Avila is the 100% owner and operator of the Power Generation Facility situated in West Central Alberta. The Power Generation's preliminary designs were advanced to where long lead items were acquired by the Company as part of the progression and completion of the 1st stage of approximately 10MW of continuous duty power generation on or before the end of the 2nd quarter of 2025. The application to the federal government of Canada and Alberta Utilities Commission of facility will be completed by Avila.

The Company is currently monitoring and awaiting the publication of firm policies by the federal government of Canada. It has been the Company's experience that if an application is submitted prior to the publication of firm policies that the Company's application, and the proposed facility, is at the risk of not qualifying for the benefits that are anticipated to be included in the federal government's policies. The support equipment for servicing of past sales and pre-production facilities, tools and equipment were on site.

All patents were in good standing that make up the intellectual property of MTT. The Company is advancing its plans to deliver on its backlog of deliveries and the resumption of production in the 3rd quarter of 2024, including its initial deliveries to Avila Energy. Upon successfully completing the negotiations, it is these additional actions in combination with the Company's evaluation of impairment of the investment that became part of the Company's year-end due diligence, that the newly formed MTT is strong, solvent and preparing to execute on its business plans in 2024 including the supplier and supporting of Avila Energy Corporation's first order, in advance of the commence of the transition of the technology to Avila Energy Corporation in North America starting in the 2nd half of 2024 with initial manufacturing of the EnerTwin in Canada to commence in the 2nd half of 2025.