Intellabridge Signs Letter of Intent to Acquire Spark Plug, Driving Growth in Sustainable Infrastructure

Executive Summary

• Intellabridge Technology Corp. announced a non‑binding LOI to acquire 70% of Spark Plug Chargers Inc., expanding into EV infrastructure.
• Consideration is expected to be paid in Intellabridge common shares, with key Spark Plug executives slated to remain post‑closing.
• The deal includes a 30‑day due diligence period, exclusivity, and aims for definitive agreements within 60 days, subject to approvals and Spark Plug’s seed financing round.

Key Details

• Target: Spark Plug Chargers Inc., U.S. private company focused on electric‑vehicle charging solutions.
• Acquisition Structure: 70% equity stake to be acquired through a newly formed U.S. subsidiary of Intellabridge; final structure pending definitive agreements.
• Consideration: Expected payment in Intellabridge common shares (share price and valuation not disclosed).
• Management Continuity: Current Spark Plug CEO and key personnel are expected to remain with the business after closing.
• Due Diligence & Timeline: 30‑day due diligence period; exclusivity on negotiations; target signing of definitive agreements within 60 days, subject to board, regulatory, and customary approvals.
• Financing Condition: Closing contingent upon successful completion of Spark Plug’s initial seed financing round.
• Strategic Rationale: Enhances Intellabridge’s footprint in sustainable infrastructure and ImpactTech, leveraging its Karma impact technology for a climate‑forward EV charging network.
• Regulatory Note: Transaction not expected to trigger a change‑of‑business filing under CSE policies at this time.

Notable Quotes

“This proposed acquisition represents a strategic expansion of our capabilities in the broader ImpactTech space, allowing Intellabridge to integrate its platform with emerging sectors critical to a sustainable future,” – John Eagleton, CEO, Intellabridge.

“The LOI does not constitute a binding agreement to complete the acquisition. Final terms, including structure, consideration, and timing, will be set out in a definitive agreement, subject to applicable regulatory and corporate approvals.” – Company statement.