NU E Power Corp. Announces Completion of Unwinding its Acquisition of Blu Dot Systems Inc.

Executive Summary

• NU E Power Corp. entered into a Rescission Agreement with Redhill Capital Corp. to unwind the October 10, 2025 acquisition of Blu Dot Systems Inc., restoring both parties to their pre‑acquisition positions.
• The agreement cancels 29.5 million NU E common shares issued to Blu Dot shareholders and reverses the issuance of Blu Dot Class A voting shares, with Redhill and Blu Dot shareholders assuming all Blu Dot liabilities.
• Two directors, Mandy Cummings (née Adamowski) and Devon Sandford, resigned from NU E’s board in February 2026.

Key Details

• Rescission Effective Date: March 6, 2026.
• Consideration Shares Cancelled: 29,500,000 NU E common shares previously issued to Blu Dot shareholders.
• Blu Dot Share Cancellation: All Class A Common Voting Shares issued by NU E to Blu Dot are cancelled; equivalent shares re‑issued to Blu Dot shareholders to restore pre‑acquisition holdings.
• Liability Assumption: Redhill Capital Corp. and the former Blu Dot shareholders will assume all liabilities of Blu Dot, providing indemnification protections for NU E.
• No Fees or Penalties: No compensation is payable by any party under the Rescission Agreement, aside from ordinary intercompany settlement items.
• Board Resignations:
• Mandy Cummings (née Adamowski) – effective February 10, 2026.
• Devon Sandford – effective February 18, 2026.
• Future Outlook: Management states the rescission is in the best interests of NU E and will allow refocusing on its power‑development strategy; forward‑looking statements included for context.

Notable Quotes

(No direct quotes were provided in the release.)