StarPower ON Systems Inc. (Nevada) (‘StarPower Nevada’) acquired certain fuel cell technology assets and rights of StarPower ON Systems, Inc. (Canada) (‘StarPower Canada’) on March 31, 2018. As consideration, StarPower Nevada will issue 50 million shares of its common shares. Under the agreement, StarPower Nevada has acquired a 50% interest in a manufacturing plant and related equipment assets, which are yet to be purchased, but are expected to be held in StarPower Canada's Hong Kong subsidiary. StarPower Canada plans to purchase the plant and related assets in June 2017. Also under the agreement, StarPower Nevada acquired from StarPower Canada the exclusive development and distribution rights on various proprietary technologies, such as water repellents and UV purification and fire retardants in North and South America. In connection with the transaction, StarPower Canada announced its new board members and officers comprising Xianguo Li as Chairman and Chief Technology Officer, Xu Wang as Director and Cathy Xu as Senior Vice President, Development. StarPower ON Systems Inc. (Nevada) (‘StarPower Nevada’) completed the acquisition of certain fuel cell technology assets and rights of StarPower ON Systems, Inc. (Canada) (‘StarPower Canada’) on March 31, 2018.