ECC Ventures 6 Corp. enters into agreement to acquire LCM Energy Solution Inc.
by CM Staff
LCM Korea, based on its own patented technologies, has developed and is manufacturing and marketing bidirectional vertical small wind power generation systems.
VANCOUVER — ECC Ventures 6 Corp. announces that it has entered into a definitive amalgamation agreement, pursuant to which it will acquire, through its newly formed subsidiary, 1428703 B.C. Ltd. (Acquireco), all of the issued and outstanding share capital of LCM Energy Solution Inc. (LCMBC). The Acquisition will constitute a reverse take-over and the Company’s qualifying transaction under the policies of the TSX Venture Exchange and is expected to become a technology issuer.
The Acquisition will be completed by way of an amalgamation pursuant to which, inter alia, (i) ECC6 will complete a share consolidation on the basis of 1.1834409 pre-consolidation common shares for one (1) post-consolidation common share, (ii) all 565,000 ECC6 stock options currently issued and outstanding will be cancelled, and (iii) the shareholders of LCMBC will be issued an aggregate of 73,400,000 Resulting Issuer Shares (as defined below) at a deemed price of $1.00 per Resulting Issuer Share in exchange for their common shares of LCMBC. It is anticipated that certain of the Resulting Issuer Shares issued as consideration for the Acquisition will be subject to escrow and resale restrictions pursuant to the policies of the Exchange.
LCMBC is a private holding company incorporated on October 13, 2022, pursuant to the laws of British Columbia. LCMBC’s principal asset is its wholly owned subsidiary, LCM Energy Solution (Korea) Inc., a private company that has developed customized lithium battery solutions for various industries such as E-mobility, Energy Storage Systems, and special market sectors, such as the military & defense market. Together with its hardware technology for cell & battery pack design, manufacturing and assembly, LCM Korea is also developing a software platform for integrated management for optimal operation of secondary battery equipped vehicles, vessels, drones, machines and other devices.
LCM Korea, based on its own patented technologies, has developed and is manufacturing and marketing bidirectional vertical small wind power generation systems. These hybrid power generation systems combine small wind turbines with a solar power module and LCM Korea’s proprietary slip-ring, a core component for wind power systems that replaces traditional mercury-type slip rings that cause environmental pollution.
