Extreme Vehicle Battery Technologies Corp. is satisfied to report that it has gone into a Share Exchange Agreement to procure CryptoPlug Technologies Inc. a substance fostering a blockchain-based, crypto-viable application for smartphones. The Application’s essential capacity will be to enable clients to customize their EV power prerequisites around encompassing EV Infrastructure, and to enable them the capacity to flawlessly pay for their charging needs utilizing cryptocurrency. With the new surge in revenue in cryptocurrency, the Company accepts this element will be exceptionally alluring to customers. The Company expects to keep on building the Smart Command application and give it to the market for nothing, with a fee-based model on transactions, to create income.
The Smart Command application has been designed with IoniX Pro, specifically with their product suite in mind, allowing for seamless and personalized usage. It is intended to bring flexibility and customer control to the tracking of energy movement for accurate and reliable measurement of energy costs both to and from all energy sources.
The Company and its subsidiary, IoniX Pro Battery Technologies Inc. (“IoniX Pro”), have already launched their own Blockchain Power Management and Application, Smart Command (the “Smart Command”), and now intend to utilize CryptoPlug’s developing application to combine the two and reduce the development time of the Smart Command. The integration of the CryptoPlug features into the Smart Command will optimize how and when customers source all their EV and ESS power. Whether the energy is derived directly from renewable energy or from the grid, the Smart Command is able to monitor charging sessions, track power purchases and can even sell power to the grid, all with its blockchain based platform. Due to the nature of blockchain, the Smart Command will provide the highest level of accuracy and security encryption.
“We plan to integrate this technology into the entire IoniX Pro product suite. By streamlining all payment systems, including cryptocurrencies, which are growing in popularity, we believe we will be revolutionizing the way consumers manage and pay for their EV and ESS power needs,” added Mr. Goodwin.
“The CryptoPlug technology will be a perfect complement to our Smart Command application and will assist in bringing a more robust application to the market sooner than previously expected,” commented EV Battery Tech CEO, Bryson Goodwin.
According to EV-Volumes, sales of electric vehicles (EVs) have increased exponentially over the last year, and are set to continue rapidly increasing across all regions around the globe. General Motors recently announced their intention to eliminate all gasoline and diesel engines from their production and sales by 2035, and many other companies in the EV industry are doing the same. This common trend in the industry is setting targets for everyone around the globe to strive towards becoming carbon neutral.
As compensation for the acquisition, and pursuant to the Agreement, the Company will be issuing 24 million common shares of the Company, at a price of $0.25 per common share, to the shareholders of CryptoPlug, for a deemed transaction valuation of $6M.
As the Company is now shifting it’s focus more on blockchain technology applications, it has decided to reshape its board of directors (“Board”) to better reflect the new vision going forward. Therefore, on October 20, 2021 Cedric Wilson, and Tjalling DeJong stepped down as directors of the Company and Taryn Stemp joined the Board. Mr. Wilson has served as a director of the Company for almost 3 years and Mr. DeJong for 2 and a half years. The Company is very appreciative of their service and wishes them the best in their future endeavours.
News Summary:
- EV Battery Tech Declares Acquisition of Blockchain-Based Crypto-Compatible Smartphone App
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