Tinkerine & Electrum Reverse Takeover Update, Installations and Energy Platform Developments
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October 12, 2022 – TheNewswire - 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” or “ECS”) as previously announced on March 16, 2022 and updated via press release on April 26, 2022.
Tinkerine and Electrum have agreed to extend the Definitive Agreement outside date from a date of September 30, 2022, to March 31, 2023. The Definitive Agreement sets out the terms and conditions of the proposed RTO. Conditions such as obtaining shareholders and regulatory approvals will need to be met.
Electrum has signed several contracts for the installation and management of EV chargers that includes PepsiCo for their depot in Surrey, B.C, and other installation contracts with large condominium developers for multiple condominium sites. The installation of EV chargers varies from 20 EV chargers to over 120 EV chargers per site. Electrum has also entered a preliminary arrangement an international utility company for the deployment of Level 2 and DC Fast Charging (“DCFC”) systems at select locations in B.C. and Alberta. Electrum continues to evolve as a technology-based company focused on evolving intelligent power management solutions, cost recovery and touchless technology. Electrum’s software learns and adapts as utilization increases, providing additional information and smarter technology to meet the demand for EV charging infrastructure.
V2.0 Electrum Cloud IoE Platform
Electrum, in conjunction with the technology team at Tinkerine, has developed and introduced the Electrum Cloud Internet of Energy (IoE) Platform V2.0.
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V2.0 follows Electrum’s ethos from V1.0 to be a hardware agnostic, open standard compliant platform with powerful features for intelligent energy management. V2.0 brings a modular, feature rich, ecosystem with expanding features that will allow its customers to make smart data-driven decisions on their energy needs as additional EV charging networks are installed at their locations. The core of future deployment is ‘smarter intelligence’, built with automation for all features enabling customers to setup their systems to respond to their 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 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’.
The Government of Canada has set a mandatory goal for all new light duty cars and passenger trucks to be zero-emission, by 2035. To support this goal the Government of Canada has set up the Zero Emission Vehicle Infrastructure Program (ZEVIP) which is a $680 Million initiative with the objective to address the lack of charging and refueling stations in Canada, and the application for funding from this program is part of the services that Electrum offers its clients.
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.