TTD:CC - Tinkerine Updates Proposed Reverse Takeover Transaction with Electrum Charging Solutions
(TheNewswire)
TheNewswire - April 26, 2022 - Tinkerine™ Studios Ltd.(TSXV:TTD) (OTC: TKSTF) (" Company ",“ Tinkerine” or " TTD ") announces an update onthe proposed Reverse Takeover (“RTO”) with Electrum ChargingSolutions Inc.(“Electrum”) as previously announced on March 16,2022.
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’.
Of recent note, Air Canada will be launching their new electrifiedshuttle service at YVR (Vancouver International Airport) byintroducing three 19 passenger electrified buses enabling theircustomers to be transported around YVR by the latest electrified cleanenergy vehicle technology available today. The partnership among AirCanada, Universal Coach Lines (“Universal”), Green Power Bus, MCI,and Electrum has provided 2 new 120kw DCFC’s that were installed andare managed by Electrum. The supporting charging efficiency allows forseamless uninterrupted transportation around the South Terminalairport and Mitchel Island in Richmond, BC in a clean, efficient andsilent manner. These chargers reside on Electrum’s network, offeringfinite control of the charging process by reducing power output wherelonger dwell times are acceptable, saving power and onboard batterylongevity. Serving over 500,000 passengers annually, Universal is oneof Canada’s largest privately held providers of over-the-road busand motor coach tour and charter transport, including commuter expressand employee shuttle service to Vancouver and surrounding areas. Basedin Richmond, British Columbia, Universal currently operates MCI J4500clean diesel coaches and made the shift to zero-emission following thelaunch of the J4500 CHARGE™, Canada’s first long range fullyelectric bus.
Electrum is also pleased to announce that Whistler, BC will bedeploying their first large scale condominium site, where 82residential stalls will be electrified, offering up to 35kms of rangefor every hour of charge time. Electrum is utilizing theirIntelligent-Load-Management-System allowing for the efficient andcost-effective use of electricity, while charging and providing powerto the facility. This allows residents and visitors to charge whilethey are parked at their home or rental unit without the inconvenienceof public charging. This system allows for cost recovery associatedwith power consumption and charging data, allowing the site to betterunderstand their electrical consumption.
The Canadian government Budget 2022 announced a goal of adding 50,000charging stations across Canada through the investment of $900 millionby the Canada Infrastructure Bank and Zero Emission VehicleInfrastructure Program. This initiative presents an excellentopportunity for Electrum to benefit from the transition to a net-zeroeconomy.
Tinkerine and Electrum continue to define synergies that willaccelerate the installation of electric vehicle charging solutions andnetworked smart energy infrastructure.
Regulatory documentation related to the RTO is being prepared, andwill be filed on SEDAR during Q2 2022.
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 3DIndustrial 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-BasedApproach.”
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-lookinginformation” within the meaning of applicable Canadian securitieslegislation. Forward-looking information includes, without limitation,statements regarding the proposed RTO, the business of the Target, theability of the Company to complete the proposed RTO, the proposedfinancing of ECS, the shares for debt transaction of TTD, theanticipated growth of the EV market and the future plans or prospectsof the Company and the Target. Generally, forward-looking informationcan be identified by the use of forward-looking terminology such as“plans”, “expects” or “does not expect”, “isexpected”, “budget”, “scheduled”, “estimates”,“forecasts”, “intends”, “anticipates” or “does notanticipate”, or “believes”, or variations of such words andphrases or state that certain actions, events or results “may”,“could”, “would”, “might” or “will be taken”,“occur” or “be achieved”. Forward-looking information issubject to known and unknown risks, uncertainties and other factorsthat may cause the actual results, level of activity, performance orachievements of TTD, as the case may be, to be materially differentfrom those expressed or implied by such forward-looking information.Although TTD has attempted to identify important factors that couldcause actual results to differ materially from those contained inforward-looking information, there may be other factors that causeresults not to be as anticipated, estimated or intended. There can beno assurance that such information will prove to be accurate, asactual results and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking information.
TTD does not undertake to update any forward-lookinginformation, except in accordance with applicable securitieslaws.
All information contained in this press release withrespect to TTD and ECS was supplied by the parties respectively forinclusion herein, and each party and its directors and officers haverelied entirely on the other party for any information concerning theother party. TTD has not conducted due diligence on the informationprovided by ECS and does not assume any responsibility for theaccuracy or completeness of such information.
Completion of the RTO is subject to a number ofconditions, including but not limited TSX-V acceptance and ifapplicable disinterested shareholders’ approval. The transactioncannot close until the required shareholder approval is obtained.There can be no assurance that the transaction will be completed asproposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filingstatement to be prepared in connection with theRTO, any information released or received with respect to the RTO maynot be accurate or complete and should not be relied upon. Trading inthe securities of TTD should be considered highly speculative.
The TSX-V has in no way passed upon the merits of theRTO and has neither approved nor disapproved the contents of thispress 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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