Business
NU E Power Corp. Announces Completion of Unwinding its Acquisition of Blu Dot Systems Inc.
Calgary, Alberta--(Newsfile Corp. - March 12, 2026) - NU E Power Corp. (CSE: NUE) (OTC Pink: NUEPF) ("NU E" or the "Company") announces it entered into an agreement (the "Rescission Agreement") effective March 6, 2026 with Redhill Capital Corp. ("Redhill") to rescind and unwind the acquisition of Blu Dot Systems Inc. ("Blu Dot") that was completed on October 10, 2025 (the "Acquisition"). Summary of the Rescission AgreementThe Rescission Agreement stipulates that NU E and Redhill (the "Parties").
About this update from Nu E Power Corp.
[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - March 12, 2026) - NU E Power Corp. (CSE: NUE) (OTC Pink: NUEPF) ("NU E" or the "Company") announces it entered into an agreement (the "Rescission Agreement") effective March 6, 2026 with Redhill Capital Corp. ("Redhill") to rescind and unwind the acquisition of Blu Dot Systems Inc. ("Blu Dot") that was completed on October 10, 2025 (the "Acquisition").","length":450,"tagName":"p"},{"type":"text","content":"Summary of the Rescission Agreement","length":35,"tagName":"p"},{"type":"text","content":"The Rescission Agreement stipulates that NU E and Redhill (the "Parties") shall unwind the transactions related to the Acquisition such that the Parties shall be restored to their respective positions as they existed prior to the Acquisition. The unwind involves, among other things, the following:","length":308,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"the cancellation of the 29,500,000 common shares in NU E (the "Consideration Shares") originally issued to the shareholders of Blu Dot prior to the Acquisition (the "Blu Dot Shareholders") removing the Consideration Shares from the Company's issued and outstanding share capital;","length":303,"tagName":"p"}]},{"val":[{"type":"text","content":"the cancellation of the Class A Common Voting Shares of Blu Dot (the "Blu Dot Shares") originally issued to NU E in relation to the Acquisition and the concurrent issuance by Blu Dot to the Blu Dot Shareholders of such number of Blu Dot Shares as is necessary to restore the Blu Dot Shareholders to the position they held immediately prior to the Acquisition; and","length":373,"tagName":"p"}]},{"val":[{"type":"text","content":"Redhill and the Blu Dot Shareholders assume all liabilities of Blu Dot, with indemnification protections for NU E.","length":114,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":790,"olType":false},{"type":"text","content":"A copy of the Rescission Agreement will be posted under NU E's profile on SEDAR+ at www.sedarplus.ca.","length":105,"tagName":"p"},{"type":"text","content":"The Parties have mutually determined that unwinding the Acquisition is in their respective best interests. As of the date hereof, the Parties remain at arm's length. No...