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Tuesday, February 7, 2023

Vision Energy Corp (OTCMKTS: VENG) Promotion Stalls as VENG Drops Significantly from Recent Highs

Vision Energy Corp (OTCMKTS: VENG) has come down significantly since reaching all-time highs of $26.10 in early December. First starting off as VIHD, the Company affected a 2 for 1 forward stock split and traded as VIHDD for 3 weeks before changing its ticker to VENG. 

VENG is a heavy-duty stock promotion that recently earned the “stock promotion” badge on OTCMarkets. The stock has been heavily promoted on online with a number of landing pages touting VENG and making materially false statements according to a recent update by the Company itself. 

Vision Energy Corp (OTCMKTS: VENG) is a forward-looking energy company developing assets and solutions for the commercial, industrial and transportation sectors. Leveraging its proven track-record in site and asset procurement, accelerating development and permitting processes, plant design, and grid integration to facilitate low-carbon energy production, supply and distribution. The Company pursues reliable offtake relationships and operating partnerships with energy industry participants and end users seeking carbon abatements across feedstock and fuels. Vision Energy is committed to providing low carbon energy solutions with the highest yield, and where possible, projects are designed to leverage existing gas and power infrastructure to integrate and facilitate import and or distribution of reduced-carbon energy to domestic and global supply chains. 

Evolution Terminals is developing a pioneering green energy hub with Phase 1 design for up to 400,000 cubic meters (CBM) of bulk storage capacity with dedicated deep-water jetty, quay wall, rail and truck loading/unloading facilities. Phase 2 and 3 plans including expansion of storage for low-carbon products and fuels, and integration of an Ammonia Cracking Facility to crack green ammonia to hydrogen. The Terminal is strategically situated within the ARA region at the mouth of the Westershelde Estuary, in North Sea Port of Vlissingen, the Netherlands; and is directly accessible from the North Sea without the need to transit locks and sluices or to navigate inland canals. 

The adjoining Scheldt River connects the Terminal to the Ports of Antwerp, Ghent and Terneuzen, as well as to the European inland waterway infrastructure. Due to innovative design, build specification and planned multi-permitting of storage tanks for a wide range of liquid bulk products, the Terminal will provide its customers with a flexible liquid bulk storage solution. Evolution Terminals will be designed and built conforming to the safety requirements of the Dutch PGS 29 regulations, and is located in a strategic hub within the ARA region. 

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In a recent update on the stock activity the Company stated: “On December 6, 2022, the Company was informed by the OTC Markets Group Inc. (“OTC Markets”) of certain promotional material that encouraged investors to purchase or trade the Company’s common stock. The Company believes that the promotion may have had some impact on market activity, but that a recent stock price increase and trading activity are also due to the Company’s news released on November 10, November 22 and November 30 related to the Company’s advancements and strategic partnerships with its Green Energy Hub development project in the North Sea Port of Vlissingen, the Netherlands. Neither the Company nor its officers, directors, employees, consultants, or advisors were involved, directly or indirectly, with the creation, distribution, or payment of the promotional materials. The Company was not aware of the promotion prior to notification by OTC Markets. 

The promotional material identified to the Company consists of an article titled “This Stock is Leading an Energy Revolution and Investors Stand to Make a Fortune.” To the Company’s knowledge, this article has been posted on at least two domains, WorldFinance.com and DailyFinanceNews.com, under different authors’ names. The article falsely claims that the Company is “building a network of hydrogen power plants across Europe,” falsely claims the Company “will get tons and tons of carbon credits which it will turn around sell” and predicts that the Company’s stock price will rise. The statements relating to the hydrogen power plants and carbon credits are materially false and misleading. The company disposed of two green hydrogen production development projects in May 2022 (Company news released May 11, 2022), and as of the date of this release, Vision does not hold any carbon credits. 

On December 27 VENG shared an update on the expansion of its project management and development team. Vision Energy, through its wholly-owned Dutch subsidiary Evolution Terminals BV (“ETBV”), continues work to realize its project development objectives and has increased its core team of experienced commercial and engineering professionals. 

The PMC team has collectively developed over 8 million cubic meters (CBM) of bulk storage capacity around the world and possesses decades of experience, working for major industry global operators including Vopak, Tebodin, Oiltanking, Van Oord and Bluewater. The PMC team has recently increased its scope and development efforts through permit applications and are working closely with Linde Engineering to manage the Company’s preliminary Front End Engineering and Design (“FEED”) activities to accelerate project timelines to FID and delivery of LPG/Ammonia storage and handling facilities. (Refer to Company News Release on 9th November 2022). 

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Currently trading at a $715 million market valuation VENG OS is 42,097,552. The Company has been heavily promoted and recently earned the “stock promotion” badge on OTCMarkets. The stock has been heavily promoted on online with a number of landing pages touting VENG and making materially false statements according to a recent update by the Company itself. Long term VENG cannot maintain current market valuation and could drop significantly as the promo dollars run dry. We will be updating on BRLL when more details emerge so make sure you are subscribed to investmillion.com by entering your email below.

Disclosure: we hold no position in VENG either long or short and we have not been compensated for this article.

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