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Vancouver, British Columbia--(Newsfile Corp. - January 6, 2025) - Stardust Solar Energy Inc. (TSXV: SUN) ("Stardust Solar" or the "Company"), a leading provider of residential solar energy solutions, is pleased to announce that, further to its news release dated November 27, 2024, it has received a cash payment for the full settlement amount from SinuSafe Medical Ltd. ("SinuSafe") in accordance with the terms of a settlement agreement with SinuSafe dated November 26, 2024 (the "Settlement Agreement").

Pursuant to the terms of the Settlement Agreement, SinuSafe has now paid to Stardust Solar a cash payment representing the full settlement amount of $395,208, which includes both the applicable principal and the accrued interest owed by SinuSafe under a secured loan agreement executed by the parties in May 2022. The settlement funds have now been deposited by SinuSafe into a Stardust Solar bank account.

In accordance with the terms of the Settlement Agreement, Stardust Solar will now submit a request for the release of the liens and restrictions previously imposed by the Company on the applicable SinuSafe patents and intellectual property.

For additional details regarding the Settlement Agreement and the SinuSafe loan, please see the Company's news release dated November 27, 2024 and other public filings made by the Company with Canadian securities regulatory authorities, which are available under the Company's SEDAR+ profile at www.sedarplus.ca.

About Stardust Solar

Stardust is a North American franchisor of renewable energy installation services, including solar panels (PV), energy storage systems, and electric vehicle supply equipment. Stardust lends its brand and business management services to entrepreneurs looking to enter the renewable energy industry. Stardust franchisees install and maintain clean energy systems for residential and commercial purposes. As a franchisor, Stardust supplies its franchisees with the following products: solar PV equipment, energy storage equipment, and electric vehicle supply equipment. In addition, Stardust supports its franchisees with many services from corporate headquarters, including marketing, sales, engineering, plan sets, customer service, and project management.

Media and Investor Contacts:

Mark Tadros
Chief Executive Officer, Chairman and Director

For further information or media requests, please contact:
Glen Nelson,
Investor Relations and Communications:
glen@stardustsolar.com
t: (403) 763-9797

Email: investors@stardustsolar.com
Website: www.stardustsolar.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements, including statements relating to the Company's business plans and expected future growth and the Company's submission of a request for the release of the liens and restrictions previously imposed by the Company on the applicable SinuSafe patents and intellectual property . These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward‐looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention. It assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236110