Bitech Technologies Corporation (OTCPK:BTTC) signed a Membership Interest Purchase Agreement to acquire Emergen Energy LLC from Bridgelink Development, LLC for $21.1 million on April 14, 2024. Pursuant to the agreement, Bitech Technologies agreed to issue to Bridgelink at closing, 222,222,000 shares of Bitech Technologies' unregistered common stock in exchange for a 100% ownership interest in Emergen. Following the closing, Bridgelink will own approximately 31.3% of Bitech Technologies' outstanding common stock. The closing of the Business Combination is expected to be completed no later than April 24, 2024. The transaction is conditioned to employment and stock option agreements with each of Messrs. Tran and Johnson. The transaction is subject to completion of certain organizational matters regarding Emergen to the reasonable satisfaction of Bitech Technologies. The transaction is subject to due diligence review and examination of Emergen Energy and certain due diligence materials provided by Bridgelink to the Company, to the satisfaction of Bitech in its sole discretion. The transaction is subject to Project Management Services Agreement.

Bitech Technologies will continue under the current leadership team and will retain its name and ticker symbol while welcoming new executive team members from Bridgelink. Benjamin Tran shall continue to hold his role as Chairman of the Board of Directors and interim CEO, while Cole Johnson will join the Company as its President with the responsibility of leading its BESS and Solar Division.

Bitech Technologies Corporation (OTCPK:BTTC) completed the acquisition of Emergen Energy LLC from Bridgelink Development, LLC on April 24, 2024.