- Advantagewon Oil (AOC) has completed the acquisition of a minority interest in Starvolt Power
- Advantagewon has acquired approximately 30% of Starvolt’s outstanding common shares
- Starvolt’s goal is to become a leading designer and supplier of electric vehicles for urban commuting and transportation
- Advantagewon is focused on becoming a diverse energy producer. It currently has silos in oil, gas and solar
- Advantagewon Oil (AOC) is up 1.02 per cent and is currently trading at C$0.495 per share
Advantagewon Oil (AOC) has completed the acquisition of a minority interest in Starvolt Power.
Starvolt has developed a proprietary technology based upon flexible solar panels that it intends to leverage to become an electric vehicle designer and supplier. The investment in Starvolt furthers Advantagewon’s mission of being a leading provider of low-cost energy solutions.
Advantagewon has acquired approximately 30% of Starvolt’s outstanding common shares in consideration for the issuance of 9,166,667 of Advantagewon’s common shares at a deemed price of C$0.12 per share.
The payment shares are not subject to any hold period under applicable securities laws.
Paul Haber, Advantagewon’s Executive Chairman, stated,
“We are pleased to be able to acquire this technology. We believe it’s a great step for us to become a more integrated energy supplier which will benefit our stakeholders by offering a more diverse product line.”
Starvolt’s goal is to become a leading designer and supplier of electric vehicles for urban commuting and transportation. The company’s focus will be on single and dual passenger motor vehicles, multi-passenger cars, and multi-person mini-buses.
The vehicles will be powered by the proprietary technology that Starvolt is currently developing, which is premised on flexible solar panels that are intended to deliver more power than their competitors’ products.
Advantagewon is focused on becoming a diverse energy producer. It currently has silos in oil, gas and solar.
Advantagewon Oil (AOC) is up 1.02 per cent and is currently trading at C$0.495 per share as of 2:26 pm EST.
