KICKER Power Corp. signed a letter of intent to acquire Newton Energy Corporation (TSXV:NTN.H) in a reverse merger transaction.

KICKER Power Corp. signed a letter of intent to acquire Newton Energy Corporation (TSXV:NTN.H) in a reverse merger transaction on April 27, 2016. Under the letter of intent, Newton Energy will advance CAD 0.4 million to Kicker Power, subject to regulatory approval.

Post the acquisition, the existing shareholders of Newton will hold at least 25% of the outstanding shares of the resulting issuer. In a related transaction, KICKER Power Corp. acquired all of the assets from SunSocket Technologies Inc., Aspect Technologies Inc., and Aspect Solar Pte.

Ltd. Upon the completion of the transaction, the resulting issuer will be engaged in the business of personal solar, batteries and portable energy storage. Merv Chia, Jimmy Chow and Lori Stewart will be Directors, officers and shareholders of Kicker. The transaction is subject to approval from Board of Directors of Kicker Power and Newton Energy, entering into a definitive agreement, Exchange acceptance, satisfactory completion of due diligence, shareholder approval and regulatory approval.