Hypercharge Networks (HC.V) said Friday that it intends to acquire REVS Charging, a Texas-based provider of electric vehicle charging solutions, for up to $4.75 million in cash and shares.
The transaction, which would establish Hypercharge's first US-based operating platform, is expected to close in the third quarter.
Hypercharge will provide REVS with an interim loan of up to $200,000, of which $150,000 has already been advanced.
Hypercharge shares were last seen up CA$0.015 at CA$0.09 on the TSX Venture Exchange.
Price: $0.09, Change: $+0.01, Percent Change: +13.33%