TTD:CC - Tinkerine & Electrum Reverse Takeover Update Installations and Energy Platform Developments
(TheNewswire)
October 12, 2022 – TheNewswire - Tinkerine Studios Ltd. (TSXV:TTD) (OTC:TKSTF) (" Company ",“ Tinkerine” or " TTD ") announces an update onthe proposed Reverse Takeover (“ RTO ”) with Electrum Charging Solutions Inc. (“ Electrum ” or “ ECS ”) as previously announced onMarch 16, 2022 and updated via press release on April 26, 2022.
Tinkerine and Electrum have agreed to extend the Definitive Agreementoutside date from a date of September 30, 2022, to March 31, 2023. TheDefinitive Agreement sets out the terms and conditions of the proposedRTO. Conditions such as obtaining shareholders and regulatoryapprovals will need to be met.
Electrum has signed several contracts for the installation andmanagement of EV chargers that includes PepsiCo for their depot inSurrey, B.C, and other installation contracts with large condominiumdevelopers for multiple condominium sites. The installation of EVchargers varies from 20 EV chargers to over 120 EV chargers per site.Electrum has also entered a preliminary arrangement an internationalutility company for the deployment of Level 2 and DC Fast Charging(“DCFC”) systems at select locations in B.C. and Alberta. Electrumcontinues to evolve as a technology-based company focused on evolvingintelligent power management solutions, cost recovery and touchlesstechnology. Electrum’s software learns and adapts as utilizationincreases, providing additional information and smarter technology tomeet the demand for EV charging infrastructure.
V2.0 Electrum Cloud IoEPlatform
Electrum, in conjunction with the technology team at Tinkerine, hasdeveloped and introduced the Electrum Cloud Internet of Energy (IoE)Platform V2.0.
V2.0 follows Electrum’s ethos from V1.0 to be ahardware agnostic, open standard compliant platform with powerfulfeatures for intelligent energy management. V2.0 brings a modular, feature rich, ecosystem with expanding featuresthat will allow its customers to make smart data-driven decisions on their energy needs as additional EVcharging networks are installed at their locations. The core of futuredeployment is ‘smarter intelligence’, built with automation forall features enabling customers to setup their systems to respond totheir specific needs.
Base Feature Highlights of V2.0
Hardware Agnostic
OCPP Compliant
Full Charger & RFID Management
Energy Usage History
Energy Consumption and Billing
Electrum is headquartered in Surrey, British Columbia, and provideshigh-growth electric mobility solutions focused on core strategiesincluding Electric Vehicle Infrastructure Ecosystems, EnergyManagement and Environmental Management. Through partnerships andstrategic customers, Electrum seeks to establish turnkey solutionsthat are sustainable, scalable, and profitable. Electrum maintainsrelationships with leading automotive manufacturers, electricmotorcycle manufacturers, transit providers, different levels ofgovernment, institutions, development and property management groups.
Founded in 2015, Electrum has established partnerships and approvalswith global entities and exceeded 5000+ installations by the end of2021. Customers include blue chip clients consisting of hospitals,municipalities, residential and multi-unit residential buildings.Electrum’s mission is to empower our customers by providingsolutions that allow for the adoption of electrified platforms whileadvancing climate solutions and new technologies for the intelligentmanagement of electricity, from ‘Generation-To-User’.
The Government of Canada has set a mandatory goal forall new light duty cars and passenger trucks to be zero-emission, by2035. To support this goal the Government of Canada has set up theZero Emission Vehicle Infrastructure Program (ZEVIP) which is a $680Million initiative with the objective to address the lack of chargingand refueling stations in Canada, and the application for funding fromthis program is part of the services that Electrum offers its clients.
Additional information on the proposed RTO can be viewed on theTinkerine website at:
Investor News Releases |Tinkerine
About Tinkerine Studios Ltd.:
“A Software & Hardware Technology and 3D Industrial Design,company.”
For more information, contact:
Eugene Suyu, C EO & Director
Chris Lee, CFO
About Electrum Charging SolutionsInc.:
“Adoption of EV’s via a comprehensive IoE Solutions-Based Approach.”
For more information, contact:
Dan Trudel, [Founder] CEO & Director
Frank Salvati, CFO & CSO
Offices of the CFO:
Ph#: 416-363-5900
For further information pleasecontact:
Dean Stuart
T: 403 617 7609
E: dean@boardmarker.net
Forward-looking Information:
This press release contains “forward-looking information” withinthe meaning of applicable Canadian securities legislation.Forward-looking information includes, without limitation, statementsregarding the proposed RTO, the business of the Target, the ability ofthe Company to complete the proposed RTO, the proposed financing ofECS, the shares for debt transaction of TTD, the anticipated growth ofthe EV market and the future plans or prospects of the Company and theTarget. Generally, forward-looking information can be identified bythe use of forward-looking terminology such as “plans”,“expects” or “does not expect”, “is expected”,“budget”, “scheduled”, “estimates”, “forecasts”,“intends”, “anticipates” or “does not anticipate”, or“believes”, or variations of such words and phrases or state thatcertain actions, events or results “may”, “could”,“would”, “might” or “will be taken”, “occur” or “beachieved”. Forward-looking information is subject to known andunknown risks, uncertainties and other factors that may cause theactual results, level of activity, performance or achievements of TTD,as the case may be, to be materially different from those expressed orimplied by such forward-looking information. Although TTD hasattempted to identify important factors that could cause actualresults to differ materially from those contained in forward-lookinginformation, there may be other factors that cause results not to beas anticipated, estimated or intended. There can be no assurance thatsuch information will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking information.
TTD does not undertake to update any forward-looking information,except in accordance with applicable securities laws.
All information contained in this press release with respect to TTDand ECS was supplied by the parties respectively for inclusion herein,and each party and its directors and officers have relied entirely onthe other party for any information concerning the other party. TTDhas not conducted due diligence on the information provided by ECS anddoes not assume any responsibility for the accuracy or completeness ofsuch information.
Completion of the RTO is subject to a number of conditions, includingbut not limited TSX-V acceptance and if applicable disinterestedshareholders’ approval. The transaction cannot close until therequired shareholder approval is obtained. There can be no assurancethat the transaction will be completed as proposed or at all.Investors are cautioned that, except as disclosed inthe management information circular or filing statement to be prepared in connection with the RTO, any information released orreceived with respect to the RTO may not be accurate or complete andshould not be relied upon. Trading in the securities of TTD should beconsidered highly speculative.
The TSX-V has in no way passed upon the merits of the RTO and hasneither approved nor disapproved the contents of this press release.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
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