IO Charge Innovations Inc. signed a letter of intent to acquire Faction Investment Group Corp. (TSXV:FINV.P) in a reverse merger transaction on November 8, 2022. The Qualifying Transaction will result in a reverse takeover of Faction by IO Charge and its shareholders with shareholders of Faction being minority shareholders in the resulting entity. The finalization of this proposed QT is subject to exchange approval and the signing of a definitive agreement with IO Charge by February 28, 2023 that laid out the form and details of the transaction. The transaction is expected to close on or before June 30, 2023.

IO Charge Innovations Inc. cancelled the acquisition of Faction Investment Group Corp. (TSXV:FINV.P) in a reverse merger transaction on February 28, 2023. The letter of intent with IO Charge expired without it being finalized as no definitive agreement was reached between the parties by February 28, 2023.