Calgary, Alberta–(Newsfile Corp. – March 15, 2022) – EnerSpar Corp. (TSXV: ENER) (FSE: 5E0) (“EnerSpar” or the “Company“) is pleased to announce it has entered into an arrangement agreement (the “Arrangement Agreement“) dated March 10, 2022, between the Company and 1222150 B.C. Ltd (the “Subsidiary“), a wholly-owned subsidiary of the Company, with respect to a plan of arrangement (the “Arrangement“) pursuant to the Business Combination Act (British Columbia). Pursuant to the Arrangement the Company plans to spin out the Subsidiary, by way of distributing the securities of the Subsidiary held by the Company pro rata to the shareholders of the Company (the “Shareholders”). Each Shareholder shall receive one common share in the capital of the Subsidiary (the “Distributed Securities“) for each common share in the capital of the Company held by each Shareholder. read more