Crown Reserve Acquisition Corp. I And Carvix, Inc. Announce Definitive Business Combination Agreement

March 31 (Reuters) - Crown Reserve Acquisition Corp. I CRACU.O:

• CROWN RESERVE ACQUISITION CORP. I AND CARVIX, INC. ANNOUNCE DEFINITIVE BUSINESS COMBINATION AGREEMENT

• CROWN RESERVE ACQUISITION CORP. I - DEAL VALUES CARVIX AT $1.0 BILLION IMPLIED ENTERPRISE VALUE; COMBINED COMPANY TO TRADE ON NASDAQ

• CROWN RESERVE ACQUISITION CORP. I - CARVIX STOCKHOLDERS TO RECEIVE CROWN RESERVE STOCK AT $10.00 PER SHARE REFERENCE VALUE

• CROWN RESERVE ACQUISITION CORP. I - TO RAISE MINIMUM $80 MILLION PIPE FINANCING AND $20 MILLION EQUITY LINE OF CREDIT