Intellabridge Signs Letter of Intent to Acquire Spark Plug, Driving Growth in Sustainable Infrastructure

Rhea-AI Summary

Intellabridge (CSE: KASH / OTCQB: KASHF) entered a non-binding Letter of Intent to acquire 70% of Spark Plug Chargers, a U.S. EV infrastructure developer, via a newly formed U.S. subsidiary with consideration expected in common shares.

The LOI includes a 30-day due diligence window, exclusivity, and an anticipated signing of definitive agreements within 60 days, subject to board, regulatory approvals, and Spark Plug completing a seed financing round. Key Spark Plug personnel, including its CEO, are expected to remain post-close. The LOI is non-binding and final terms, structure, and timing will be set in definitive agreements.

Positive

• Proposed acquisition of 70% stake in Spark Plug
• Transaction targets high-growth EV infrastructure sector
• Integration of Karma impact technology with Spark Plug platform
• Key Spark Plug personnel expected to remain after closing

Negative

• LOI is non-binding and subject to definitive agreements
• Closing depends on Spark Plug completing a seed financing round
• Transaction consideration in common shares may dilute existing holders
• Timing contingent on board and regulatory approvals

Vancouver, British Columbia--(Newsfile Corp. - October 8, 2025) - Intellabridge Technology Corporation (CSE: KASH) (OTCQB: KASHF) (FSE: KASH) ("Intellabridge" or the "Company"), is pleased to announce that it has entered into a non-binding Letter of Intent ("LOI") to acquire Spark Plug Chargers Inc. ("Spark Plug"), a U.S.-based private company focused on the development of electric vehicle (EV) infrastructure solutions.

The proposed acquisition supports Intellabridge's strategic expansion into sustainable infrastructure technologies, aligned with the Company's long-term vision of applying its expertise in technology and impact innovation to high-growth sectors such as energy, mobility, and digital infrastructure. Intellabridge and Spark Plug have been in ongoing discussions since the initial LOI announced in May 2025, and following additional due diligence and strategic review, the parties have executed a revised Letter of Intent reflecting updated transaction terms.

Under the LOI, Intellabridge proposes to acquire seventy percent (70%) of Spark Plug through a newly formed U.S. subsidiary, with the final structure to be determined in definitive agreements. Consideration is expected to be in the form of Intellabridge common shares. Key Spark Plug personnel, including its current CEO, are expected to continue with the business following closing. The LOI provides for a 30-day due diligence period, exclusivity on negotiations, and an anticipated signing of definitive agreements within 60 days, subject to board, regulatory, and other customary approvals, and the successful closing of Spark Plug's initial seed financing round.

"This proposed acquisition represents a strategic expansion of our capabilities in the broader ImpactTech space, allowing Intellabridge to integrate its platform with emerging sectors critical to a sustainable future," said John Eagleton, CEO of Intellabridge. "We are excited to explore synergies with Spark Plug's EV infrastructure business and bring value to our shareholders through targeted innovation."

This strategic acquisition represents the convergence of technology and mission," said Ethan Cords, CEO of Spark Plug. "By integrating Intellabridge's proprietary Karma impact technology into the Spark Plug platform, we are positioned to create one of the industry's first climate-forward EV charging networks, a differentiator that aligns with the sustainability values of EV drivers and strengthens our competitive position in a rapidly growing market. Together, we aim to deliver a high-performing, user-centric solution that advances returns in the CleanTech sector.

The LOI does not constitute a binding agreement to complete the acquisition. Final terms, including structure, consideration, and timing, will be set out in a definitive agreement, subject to applicable regulatory and corporate approvals.

The Company confirms that the transaction is not expected to result in a change of business under CSE policies at this time. Further updates will be provided as developments occur.

About Intellabridge Technology Corporation

Intellabridge Technology Corporation (CSE: KASH) (OTCQB: KASHF) (FSE: KASH) is an Impact Technology company that develops and deploys innovative solutions engineered to produce measurable, positive outcomes for clients and communities. The Company's mission is to leverage technological power to drive systemic, positive change and advance sustainable operations. Its flagship platform, KarmaConnect, embeds measurable impact directly into everyday utility. Intellabridge is actively developing its presence in the Impact Tech sector, bridging its technological infrastructure and expertise with critical cleantech initiatives, with the goal of delivering both purpose and shareholder value.

For more information on Intellabridge, visit www.intellabridge.com. For more information on the Karma product, visit www.karmaconnect.com.

ON BEHALF OF THE BOARD of DIRECTORS

INTELLABRIDGE TECHNOLOGY CORPORATION

"John Eagleton"
John Eagleton, CEO

To contact Intellabridge:
Website: intellabridge.com
Phone: +1-303-800-5333
Email: maria@intellabridge.com

The CSE does not accept responsibility for the adequacy or accuracy of this release.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269770

FAQ

What stake will Intellabridge acquire in Spark Plug under the LOI (KASHF)?

The LOI proposes Intellabridge will acquire 70% of Spark Plug through a new U.S. subsidiary.

What is the expected timeline for Intellabridge (CSE: KASH) definitive agreements?

The LOI provides a 30-day due diligence period and anticipates signing definitive agreements within 60 days, subject to approvals.

How will Intellabridge pay for the Spark Plug acquisition (KASHF)?

Consideration is expected to be paid in Intellabridge common shares, with final terms in definitive agreements.

Does the LOI guarantee the Spark Plug acquisition will close?

No. The LOI is non-binding and completion depends on definitive agreements, approvals, and Spark Plug's seed financing.

Will Spark Plug management remain after the proposed acquisition by Intellabridge?

Yes. Key Spark Plug personnel, including the current CEO, are expected to continue with the business following closing.

What strategic benefit does the Spark Plug deal offer Intellabridge (KASHF)?

The transaction aims to expand Intellabridge into EV charging and sustainable infrastructure and integrate its Karma impact technology.