Formation of Special Committee and Resignation of CEO

VANCOUVER, BC, Nov. 24, 2021 /CNW/ - BYT Holdings Ltd. (CSE: BYT) ("BYT" or the "Company") announces that the board of directors have formed a special committee of the board of directors (the "Board") to review and investigate, among other matters, certain transactions relating to allegations of undisclosed related party transactions involving Vincent Lim ("Lim"), which have been brought to the attention of the Board.

Effective November 22, 2021, Lim has tendered his resignation as Chief Executive Officer and as a director of the Company and its subsidiaries.

The current members of the Board consist of Sunny Li, Tan Tee Ween, Patrick Sapphire, Ricky Ng and Yiwen Zhang.

About BYT Holdings

BYT's operations are based out of Singapore, with its primary business being to provide one-stop turnkey engineering, procurement, and construction management solutions that range from consultancy and design, to the construction of projects involving high technology production facilities, primarily in Singapore and mainland China. BYT is also developing its waste management services division in Shanghai, China, which focuses on converting waste into organic compost.

ON BEHALF OF BYT HOLDINGS

"Sunny Li"

Sunny Li
Executive Chairman

Forward-Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in BYT' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should, our vision" and similar expressions, are forward-looking statements. Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the novel coronavirus (COVID-19) pandemic, the specific factors disclosed here and elsewhere in BYT' periodic filings with Canadian securities regulators.

When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should, our vision" and similar expressions, are forward-looking statements. Forward-looking statements may include, without limitation, statements relating to the Company's future financial performance, financial statement filing, business development, results of operations, and financing and recapitalization opportunities, as well the evaluation of strategic alternatives. Readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. BYT disclaims any intention or obligation to update or revise such information, except as required by applicable law, and BYT does not assume any liability for disclosure relating to any other company mentioned herein.

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE BYT Holdings Ltd.

[email protected]