Vancouver, BC – 9/22/2021 – Minerva Intelligence Inc. (TSXV: MVAI) (“Minerva” or the “Company”), an artificial intelligence software company focused on building decision support tools for climate risk, mineral exploration and mining, is pleased to announce that Gleb Chuvpilo will be joining the Company’s Board of Directors. In addition, Dr. Alan Mackworth has stepped down from the Board of Directors effective September 17, 2021.

Mr. Chuvpilo is a serial entrepreneur and early-stage venture capital investor with a master’s degree from the MIT Computer Science and Artificial Intelligence Lab and an MBA in Finance and Strategic Management from The Wharton School at the University of Pennsylvania. His prior experiences include Goldman Sachs and Palantir Technologies. Mr. Chuvpilo is currently the founder and Managing Partner at Thundermark Capital, an early-stage deep tech Venture Capital fund backed by Peter Thiel. 

Mr. Chuvpilo was thrilled to be welcomed to Minerva’s board. “It’s an honour to be asked to serve on Minerva’s Board of Directors,” said Mr. Chuvpilo. “I believe that Minerva’s cognitive AI technology represents virtually limitless potential, and I’m excited for the chance to help the Company explore new opportunities in many new verticals. I am particularly excited to focus on the existential issue of climate change, and work with the Minerva team to develop tools that help map and manage climate risk.”

“While we regret having to say goodbye to Dr. Mackworth, we are glad he has agreed to continue to serve in an advisory capacity and we are extremely excited to have Gleb join the Minerva team, as his breadth of experience in scaling early-stage technology companies will prove extremely valuable to us as we continue to expand on our Climate Risk initiatives,” said Scott Tillman, CEO of Minerva Intelligence. “The team we are establishing to lead our organization is critical to our success, and we believe today’s announcement is a huge step forward in that strategy.”

Mr. Tillman continued, “On behalf of Minerva, we are very appreciative of Dr. Mackworth’s contribution to the Company as Chairman over the past three years, during which time he helped shape the Company’s direction, guiding Minerva in the AI market, particularly in the fields of natural hazards and mining and mineral exploration.  His wisdom will be missed.”

Alan Mackworth said, “I would like to thank Minerva’s employees and management team for the tremendous efforts and achievements that have brought us to this point. I have great faith in Minerva and its innovative technology, and more so in the incredible talent, professionalism, and dedication of the talented team Minerva has assembled, which I trust will continue to propel the Company. I would also like to use this opportunity to thank CEO Scott Tillman, the co-founders, Clinton Smyth and David Poole, and the other board members, for their trust and support over the last three years, and to wish Minerva continued success.”

The role of Chairman will be filled by current board member Jason Petralia, effective immediately.

About Minerva Intelligence, Inc. 

Minerva Intelligence Inc. is a software development company based in Vancouver, Canada, with a subsidiary office in Darmstadt, Germany. Their proprietary technologies empower organizations to make defensible decisions in the face of climate change.

Although Minerva’s applications focus on the search for critical metals and the assessment of physical climate risk, their technologies have application in diverse industries and domains.

Minerva’s common shares are currently listed on the TSX Venture Exchange (symbol MVAI).  For further details, please refer to their website or follow Minerva on Twitter or LinkedIn.

For further information:

Minerva Intelligence

Dan Vroon  

Business Development Manager

(604) 620-1051  

dvroon@minervaintelligence.com 

Virtus Advisory Group 

Investor Relations 

(416) 644-5081  

minerva@virtusadvisory.com 

Cautionary Note Regarding Forward-Looking Statements 

Forward Looking Information: This news release includes certain information that may be deemed “forward-looking information”. Forward-looking information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the availability of financing to the Company are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, regulatory changes, delays in receiving approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. 

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