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ECC Ventures 6 extends LCM Energy deal to Sept. 30

2025-09-17 14:15 ET - News Release

Mr. Scott Ackerman reports

ECC VENTURES 6 CORP. PROVIDES UPDATE ON PROPOSED QT TO ACQUIRE LCM ENERGY

ECC Ventures 6 Corp. has provided an update to its proposed acquisition of LCM Energy Solution Inc. (LCMBC), as previously announced.

LCMBC is a private British Columbia holding company. LCMBC's principal asset is its wholly owned subsidiary, LCM Energy Solution (Korea) Inc., a private company incorporated pursuant to the laws of South Korea (LCM Korea). LCM Korea's principal activities focus on three green energy technologies:

  • LCM Korea has developed customized lithium battery solutions for various industries such as e-mobility, energy storage systems and special market sectors, such as the military and defence market (the secondary battery technology). Together with its hardware technology for cell and battery pack design, manufacturing and assembly, LCM Korea is also developing a software platform for integrated management for optimal operation of secondary-battery-equipped vehicles, vessels, drones, machines and other devices.
  • LCM Korea has developed and has several patents relating to solar street lighting systems.
  • LCM Korea has developed and has several pending and full patents relating to bidirectional vertical small wind power generation systems (the Nova hybrid wind turbines). These hybrid power generation systems combine small wind turbines with a solar power module and LCM Korea's proprietary slip ring, a core component for wind power systems that replaces traditional mercury-type slip rings that cause environmental pollution.

The Nova hybrid wind turbines are fully developed and LCM Korea's manufacturing facility in Naju-City, Korea, has been outfitted to produce the turbines on a commercial scale. As a result of these developments, LCM Korea has shifted its business focus from its secondary battery technology to the Nova hybrid wind turbines and has several full-scale working units in operation. The company and LCMBC are currently negotiating certain amendments to the terms of acquisition, as detailed in the Nov. 30, 2023, definitive agreement, with a view to moving forward with the proposed acquisition. The parties have agreed to extend the outside termination date of the definitive agreement until Sept. 30, 2025, to allow for these negotiations. If agreement is reached, details of the amended transaction terms will be announced in a further press release.

The acquisition, if completed, will constitute a reverse takeover and the company's qualifying transaction under the policies of the exchange. Completion of the acquisition is subject to a number of conditions, including approval of the exchange, completion of an agreed financing and the satisfaction of other customary closing conditions. Trading of ECC6's common shares will remain halted pending further filings with the exchange.

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