Vancouver, B.C, October 29, 2021 – Extreme Vehicle Battery Technologies Corp. (the “Company” or “EV Battery Tech”) (CSE: ACDC)(OTCQB: CRYBF) is pleased to announce, further to its news release dated October 22, 2021, that it has completed the acquisition (the “Acquisition”) of CryptoPlug Technologies Inc. (“CryptoPlug”), an entity developing a blockchain-based, crypto-compatible application for smartphones (the “Application”).
The Acquisition was completed pursuant to a share exchange agreement dated effective October 22, 2021 whereby the Company acquired all of the issued and outstanding shares of CryptoPlug in exchange for 24,000,000 common shares of the Company (each, a “Consideration Share”) at a deemed price of $0.25 per Consideration Share, valuing the transaction at $6,000,000.
As a result of the Acquisition, CryptoPlug became a wholly-owned subsidiary of the Company and the Company indirectly acquired all of the assets of CryptoPlug, including but not limited to, all intellectual property related to the Application, which includes all proprietary rights, names, marks, copyright, trade dress, design and know-how related thereto.
The Company also intends to integrate the Application features into the Company’s own Blockchain Power Management and Application, Smart Command (the “Smart Command”), which has been launched by the Company’s subsidiary, IoniX Pro Battery Technologies Inc. (“IoniX Pro”). The Smart Command application has been designed with IoniX Pro’s product suite in mind, intending to bring flexibility and customer control to energy movement tracking.
On behalf of the Company,
Chief Executive Officer
About EV Battery Tech
Extreme Vehicle Battery Technologies Corp. is a blockchain and battery technology company with revolutionary, patented Battery Management Systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing Electric Vehicle (EV) and Energy Storage Solution (ESS) markets. The Company has committed to assisting global recycling solutions by offering recycling initiatives using their technology to analyze and fully refurbish used batteries.
Further information about the Company is available on its website (https://www.evbattery.tech)
Contact Numbers and Emails
For further information about the Company, please visit https://www.evbattery.tech.
For further information about the Company’s Products please visit https://www.ionixpro.com.
For Investor Inquiries, please contact (236) 259-0279 or email [email protected].
For Product or Sales Inquiries, please contact (236) 266-5174 or email [email protected].
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Forward Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, but are not limited to, statements relating to: the development and use of the Application and Smart Command and the Company’s plans in connection thereto; the Company’s execution on its business plan and expanded reach; the success and viability of the Application and Smart Command; the ability of the Application and Smart Command to set a new industry standard upon launch. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.