Intellabridge signs LOI to acquire 70% stake in EV charging company

VANCOUVER - Intellabridge Technology Corporation (CSE:KASH) (OTCQB:KASHF), a micro-cap technology company with a market capitalization of $1.04 million, has entered into a non-binding Letter of Intent to acquire a 70% stake in Spark Plug Chargers Inc., a private U.S. company developing electric vehicle infrastructure solutions, according to a press release statement. InvestingPro data shows the company currently faces liquidity challenges with a current ratio of 0.46.

The proposed acquisition follows ongoing discussions between the companies since an initial LOI was announced in May 2025. The transaction is expected to be structured through a newly formed U.S. subsidiary, with consideration likely paid in Intellabridge common shares, whose price has declined by approximately 71% year-to-date.

The LOI provides for a 30-day due diligence period and exclusivity on negotiations, with definitive agreements anticipated within 60 days. The transaction remains subject to board and regulatory approvals, as well as the successful closing of Spark Plug’s initial seed financing round.

Spark Plug’s current CEO and key personnel are expected to remain with the business following the transaction’s completion.

John Eagleton, CEO of Intellabridge, described the move as "a strategic expansion of our capabilities in the broader ImpactTech space," while Spark Plug CEO Ethan Cords noted plans to integrate Intellabridge’s "Karma impact technology" into their EV charging network.

Intellabridge confirmed that the transaction is not expected to result in a change of business under CSE policies at this time.

The company, which develops technology solutions aimed at producing measurable positive outcomes, stated that the acquisition aligns with its long-term vision of applying its expertise to high-growth sectors including energy, mobility, and digital infrastructure. According to InvestingPro analysis, the company faces significant financial challenges, with 12 additional key insights available to subscribers, including detailed metrics on growth potential and market positioning in the technology sector.

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