8K filed with the details...
"On January 28, 2010, ICP Solar Technologies Inc. (the "Company") entered into a Stock Purchase Agreement (the "SPA") with EPOD Solar Inc. , a company organized under the laws of British Columbia ("EPOD") and its wholly owned subsidiary EPOD Solar Industries Inc. ("EPOD Industries"), whereby the Company will (i) acquire all of the issued and outstanding shares of capital stock of each of Great Lake Solar Utilities Inc., a wholly owned subsidiary of EPOD Industries ("Great Lakes") and Optisolar Technologies Inc., a wholly owned subsidiary of EPOD ("Optisolar"), and EPOD and EPOD Industries, respectively, will sell same. In consideration for the EPOD Shares (the "Acquisition"), the Company shall issue to EPOD a total number of shares equal to 450,000,000 shares of its common stock pre-stock split, which will amount to 22,500,000 shares of its common stock post-stock split.
According to the terms of the SPA and in connection with the Closing of the Acquisition, the Company shall: (i) increase its authorized share capital to 800,000,000 shares of common stock; and (ii) undergo a 20:1 reverse stock split of its shares of common stock and change its CUSIP number (collectively the "Corporate Actions"). The Company shall obtain all required approvals and make all necessary filings pertaining to these Corporate actions including, obtaining shareholder approval, filing a Schedule 14C Information Statement and seeking approval from FINRA. The SPA, Acquisition and Corporate Actions were approved by the Company’s Board of Directors on January 27, 2010."
short term could be volatile with that RS but long term these two companies should be a great combo.
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