Xcelerate Files Supplemental Information For Removal of Shell Status

Mauldin, SC, Jan. 25, 2022 (GLOBE NEWSWIRE) -- (OTC Pink: XCRT) today announced that it has filed a Supplemental Report with OTC Markets to remove the “shell’ status symbol from the OTC Markets webpage.

“As a result of the Company’s recent Form 1-A filing with the SEC we believe that Xcelerate is no longer classified as a shell company under SEC rules” said Michael O’Shea, Xcelerate’s CEO. “Accordingly, we have filed a Supplemental Report with OTC Markets requesting that this designation be removed. The removal of this designation will take us one step closer to our previously announced plan to complete an uplisting to the OTCQB, with the ultimate goal of uplisting to a national exchange” O’Shea said.

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This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and actual results may differ materially from those projected in forward-looking statements resulting from various factors.