Tinkerine Updates Proposed Reverse Takeover Transaction with Electrum Charging Solutions
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TheNewswire - April 26, 2022 - Tinkerine™ Studios Ltd. (TSXV:TTD) (OTC:TKSTF) ("Company", “Tinkerine” or "TTD") announces an update on the proposed Reverse Takeover (“RTO”) with Electrum Charging Solutions Inc.(“Electrum”) as previously announced on March 16, 2022.
Electrum is headquartered in Surrey, British Columbia, and provides high-growth electric mobility solutions focused on core strategies including Electric Vehicle Infrastructure Ecosystems, Energy Management and Environmental Management. Through partnerships and strategic customers, Electrum seeks to establish turnkey solutions that are sustainable, scalable, and profitable. Electrum maintains relationships with leading automotive manufacturers, electric motorcycle manufacturers, transit providers, different levels of government, institutions, development and property management groups.
Founded in 2015, Electrum has established partnerships and approvals with global entities and exceeded 5000+ installations by the end of 2021. Customers include blue chip clients consisting of hospitals, municipalities, residential and multi-unit residential buildings. Electrum’s mission is to empower our customers by providing solutions that allow for the adoption of electrified platforms while advancing climate solutions and new technologies for the intelligent management of electricity, from ‘Generation-To-User’.
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Of recent note, Air Canada will be launching their new electrified shuttle service at YVR (Vancouver International Airport) by introducing three 19 passenger electrified buses enabling their customers to be transported around YVR by the latest electrified clean energy vehicle technology available today. The partnership among Air Canada, Universal Coach Lines (“Universal”), Green Power Bus, MCI, and Electrum has provided 2 new 120kw DCFC’s that were installed and are managed by Electrum. The supporting charging efficiency allows for seamless uninterrupted transportation around the South Terminal airport and Mitchel Island in Richmond, BC in a clean, efficient and silent manner. These chargers reside on Electrum’s network, offering finite control of the charging process by reducing power output where longer dwell times are acceptable, saving power and onboard battery longevity. Serving over 500,000 passengers annually, Universal is one of Canada’s largest privately held providers of over-the-road bus and motor coach tour and charter transport, including commuter express and employee shuttle service to Vancouver and surrounding areas. Based in Richmond, British Columbia, Universal currently operates MCI J4500 clean diesel coaches and made the shift to zero-emission following the launch of the J4500 CHARGE™, Canada’s first long range fully electric bus.
Electrum is also pleased to announce that Whistler, BC will be deploying their first large scale condominium site, where 82 residential stalls will be electrified, offering up to 35kms of range for every hour of charge time. Electrum is utilizing their Intelligent-Load-Management-System allowing for the efficient and cost-effective use of electricity, while charging and providing power to the facility. This allows residents and visitors to charge while they are parked at their home or rental unit without the inconvenience of public charging. This system allows for cost recovery associated with power consumption and charging data, allowing the site to better understand their electrical consumption.
The Canadian government Budget 2022 announced a goal of adding 50,000 charging stations across Canada through the investment of $900 million by the Canada Infrastructure Bank and Zero Emission Vehicle Infrastructure Program. This initiative presents an excellent opportunity for Electrum to benefit from the transition to a net-zero economy.
Tinkerine and Electrum continue to define synergies that will accelerate the installation of electric vehicle charging solutions and networked smart energy infrastructure.
Regulatory documentation related to the RTO is being prepared, and will be filed on SEDAR during Q2 2022.
Additional information on the proposed RTO can be viewed on the Tinkerine 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, CEO & Director
Chris Lee, CFO
About Electrum Charging Solutions Inc.:
“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 please contact:
Dean Stuart
T: 403 617 7609
E: dean@boardmarker.net
Forward-looking Information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the proposed RTO, the business of the Target, the ability of the Company to complete the proposed RTO, the proposed financing of ECS, the shares for debt transaction of TTD, the anticipated growth of the EV market and the future plans or prospects of the Company and the Target. Generally, forward-looking information can be identified by the 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 that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of TTD, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although TTD has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-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 TTD and ECS was supplied by the parties respectively for inclusion herein, and each party and its directors and officers have relied entirely on the other party for any information concerning the other party. TTD has not conducted due diligence on the information provided by ECS and does not assume any responsibility for the accuracy or completeness of such information.
Completion of the RTO is subject to a number of conditions, including but not limited TSX-V acceptance and if applicable disinterested shareholders’ approval. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the RTO, any information released or received with respect to the RTO may not be accurate or complete and should not be relied upon. Trading in the securities of TTD should be considered highly speculative.
The TSX-V has in no way passed upon the merits of the RTO and has neither approved nor disapproved 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 release.