First Hydrogen Enters into Binding Letter of Intent with Robotics Company

Executive Summary

• First Hydrogen Corp. entered into a binding LOI to acquire a 60% interest in RoboticsCo (Exodus Actuation Solutions Inc.) by issuing 2 million common shares and providing up to US$2 million in cash, subject to due‑diligence and TSX‑V approval.
• The acquisition targets advanced robotics actuator IP covering 25 issued and 11 pending patents, positioning First Hydrogen within the growing clean‑energy and autonomous‑robotics markets.
• The transaction includes staged share issuances and cash funding, with additional finder’s/consulting fees to be paid under TSX‑V policies.

Key Details

• Target: Exodus Actuation Solutions Inc. (“RoboticsCo”), holder of 25 issued and 11 pending patents for the Exodus Actuation gearbox and high‑performance motor lines.
• Acquisition Structure: First Hydrogen will acquire a 60 % equity stake in RoboticsCo.
• Consideration:
• Issuance of 2,000,000 First Hydrogen common shares (to be delivered in stages).
• Cash funding of up to US$2,000,000, also to be provided in stages and subject to mutually agreed budgets.
• Conditions: Completion of due‑diligence, execution of a definitive agreement with customary representations, covenants, and TSX Venture Exchange approval.
• Finder/Consulting Fees: The Company will pay third‑party finder’s and consulting fees in accordance with TSX‑V policies.
• Strategic Rationale: RoboticsCo’s actuator technology is deemed “foundational” for electric vehicles, renewable‑energy asset automation, and autonomous platforms (e.g., drones), aligning with First Hydrogen’s clean‑energy and zero‑emission vehicle focus.
• CEO Quote: Balraj Mann stated the acquisition “positions First Hydrogen at the intersection of two major growth and investment themes: Next‑generation clean energy; and Autonomous robotic systems and Humanoid Robotics.”

Notable Quotes

“Securing patented actuator and robotics Humanoid technology positions First Hydrogen at the intersection of two major growth and investment themes: Next-generation clean energy; and Autonomous robotic systems and Humanoid Robotics.” – Balraj Mann, CEO, First Hydrogen Corp.