The understanding outlines the preliminary terms of a proposed transaction and is contingent upon a number of conditions, including the completion of due diligence, legal structuring, negotiaion and execution of a definitive agreement, corporate approvals, regulatory clearances, and other.
Vancouver, British Columbia–(Newsfile Corp. – May 14, 2025) – Intellabridge Technology Corporation (CSE: KASH) (OTCQB: KASHF) (FSE: KASH), a public company dedicated to building sustainable solutions for positive impact, announced the signing of a Letter of Intent (LOI) with Spark Plug Chargers Inc., a U.S.-based early-stage charge point operator (CPO) focused on the electric vehicle (EV) charging market.
The understanding outlines the preliminary terms of a proposed transaction and is contingent upon a number of conditions, including the completion of due diligence, legal structuring, negotiation and execution of a definitive agreement, corporate approvals, regulatory clearances, and other customary closing conditions.
This proposed acquisition aligns with Intellabridge’s core mission and business model to invest in sustainable and impactful business models. By entering the EV charging infrastructure space, Intellabridge would be actively contributing to the transition towards sustainable transportation, a critical component of global climate action. Spark Plug’s commitment to providing accessible and reliable charging solutions at everyday destinations empowers EV adoption, making cleaner transportation more convenient for consumers. Spark Plug’s focus on providing Level 2 destination charging infrastructure presents a strategic opportunity for Intellabridge to gain early exposure to a growing and high-impact sector.
The EV charging market is currently experiencing rapid expansion, driven by increasing EV adoption and substantial investment in infrastructure. With robust projections for EV adoption, the EV charging market represents a compelling high-growth opportunity for strategic entrants like Intellabridge and Spark Plug.
The potential acquisition is expected to be mutually beneficial, providing Intellabridge with immediate entry into the burgeoning EV charging space and leveraging Spark Plug’s established partnerships, early revenue generation, and extensive pipeline of potential partners. For Spark Plug, the acquisition offers access to Intellabridge’s resources and public market expertise to accelerate its network deployment and market penetration.
John Eagleton, CEO of Intellabridge, stated, “This LOI reflects our strategic interest in the EV infrastructure space, which we believe is a critical enabler of global climate solutions. Spark Plug’s mission complements our commitment to sustainability and social impact, and their innovative approach and strategic focus on the underserved Level 2 destination market make them an ideal partner in advancing our environmental objectives while also tapping into a significant growth opportunity that will create long-term value for our shareholders.”
Ethan Cords, CEO of Spark Plug Inc., commented, “We are thrilled to explore this opportunity with Intellabridge, a company whose values and mission resonate deeply with our own., We believe that alignment with a values-driven public company can greatly enhance our ability to grow responsibly and deliver real impact, and represents a significant opportunity to amplify our impact on the adoption of electric vehicles. With Intellabridge’s resources and commitment to sustainability, we are confident that we can rapidly scale our network and make EV charging more convenient and accessible for drivers across the United States, contributing to a cleaner and more sustainable transportation ecosystem”.
This transaction remains at a preliminary stage, and there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be completed as currently contemplated or at all. Further information will be disclosed if and when a definitive agreement is executed.
Further details regarding the transaction will be disclosed upon the signing of a definitive agreement and obtaining relevant regulatory clearances as may be applicable.
About Intellabridge:
Intellabridge Technology Corporation (CSE: KASH) (OTCQB: KASHF) (FSE: KASH) is a publicly traded company focused on social and environmental impact, with a long-term vision for a sustainable and thriving future. The company is committed to identifying, scaling, and investing in innovative solutions that contribute to the well-being of both people and the planet, aligning with environmental impact and the United Nations Sustainable Development Goals. Intellabridge currently owns 100% of Karma Card Corporation, the creator of its flagship product, Karma Connect. Karma Connect is a fintech app with a mission to make everyday transactions have a positive impact on the world. The app allows users to seamlessly connect their existing debit or credit cards and automatically round up their purchases to the nearest dollar. These roundups are then donated to charitable organizations and sustainable development goals that users care about, turning everyday spending into effortless contributions to meaningful causes. Intellabridge aims to build a portfolio of impactful ventures by providing the resources and expertise needed for growth and market leadership.
About Spark Plug Chargers Inc.
Spark Plug is a charge point operator (CPO) focused on building an extensive and reliable network of electric vehicle charging solutions across the United States. Leveraging strategic partnerships and a focus on accessibility and affordability, Spark Plug aims to be the leading charging provider at key destination locations, facilitating the transition to electric mobility.
Forward-Looking Statements:
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “plan”, “on track”, “possible”, “anticipated” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
Media Contact:
ON BEHALF OF THE BOARD of DIRECTORS INTELLABRIDGE TECHNOLOGY CORPORATION, Maria Eagleton, Chief Operating Officer
To contact Intellabridge:
Website: intellabridge.com
Email: maria@intellabridge.com
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