Powerbank forms partnership with Intellistake

Executive Summary

• Powerbank Corp. has entered into a strategic alliance with Intellistake Technologies Corp. to pioneer digital currency initiatives, specifically focusing on Bitcoin treasury integration and the tokenization of real-world assets (RWAs).
• The partnership involves Intellistake managing Powerbank’s digital asset operations, including security, custody, and treasury management, with Powerbank intending to hold Bitcoin as a long-term treasury reserve asset.
• Concurrently, Powerbank issued 56,275 shares to former and current directors and officers of Solar Flow-Through Funds to settle outstanding directors' fees assumed during the acquisition of Solar Flow-Through Funds.

Key Details

• Strategic Alliance Structure:
  • Parties: Powerbank Corp. (clean energy infrastructure) and Intellistake Technologies Corp. (AI and blockchain infrastructure).
  • Initiative 1: Digital Asset Treasury: Powerbank intends to accumulate and hold Bitcoin on its balance sheet as a long-term reserve asset. Intellistake intends to accumulate digital assets supporting decentralized AI (e.g., FET token).
  • Initiative 2: Bitcoin Treasury Management: Intellistake will serve as Powerbank’s supporting partner for security, custody, and treasury management of Bitcoin. Powerbank will no longer utilize Coinbase for this service.
  • Initiative 3: RWA Tokenization: Both companies are evaluating the tokenization of Powerbank’s clean energy assets or shares. The actual structure, assets, and timeline are undetermined and subject to regulatory compliance.
• Bitcoin Purchase Strategy:
  • Timing and value of Bitcoin purchases are determined by management based on market conditions, trading price, and cash needs.
  • The strategy may be suspended, discontinued, or modified at any time.
  • Status: As of the release date, no Bitcoin purchases have been made.
• Share Issuance (Solar Flow-Through Funds Settlement):
  • Total Shares Issued: 56,275 shares.
  • Purpose: Settlement of outstanding directors' fees assumed as part of the acquisition of Solar Flow-Through Funds.
  • Specific Allocations:
    • 10,905 shares to Matthew Wayrynen (Director/Officer).
    • 10,905 shares indirectly to Frederick Jung (Officer of Solar Flow-Through Funds).
  • Regulatory Status: Classified as related party transactions under Multilateral Instrument 61-101. Exemptions from formal valuation and minority shareholder approval were relied upon as the fair market value does not exceed 25% of market capitalization. No material change report filed.
  • Ownership Impact: Mr. Wayrynen’s ownership increases to 0.40%; Mr. Jung’s ownership increases to 0.10%.
  • Restrictions: Shares are subject to a statutory hold period of four months and one day from issuance.

Notable Quotes

• Jason Dussault, CEO of Intellistake: "Tokenization is no longer a concept -- it's an inevitability... By combining our expertise in capital markets and digital asset custody with Powerbank's scalable, real-world energy platform, we're unlocking a new opportunity."
• Dr. Richard Lu, CEO of Powerbank: "This partnership is about more than collaboration -- it's about setting the pace for a shift in how companies manage capital and assets... Powerbank and Intellistake are here to take part in that transformation to bridge traditional energy infrastructure with the demand of the digital economy."