Sunvault Energy, Inc. (OTCPK:SVLT) signed an agreement to acquire the remaining 44% stake in CleanGen Inc. from Kanata Metis Cultural Enterprises Ltd. for $1.4 million in stock on July 15, 2014. Under the terms of the deal, Sunvault will issue 8 million shares and will acquire the remaining shares form Kanata Metis and 100% of the Kanata shareholder loans and Elizabeth Metis Settlement's loan in CleanGen which is approximately $1.25 million that will be converted from debt to shareholders equity. The deal is subject to approval by Sunvault Board of Directors. No due diligence period is required for the deal. The Sunvault Board of Directors approved the transaction by board meeting held on July 24, 2014.

Sunvault Energy, Inc. (OTCPK:SVLT) completed the acquisition of remaining 44% stake in CleanGen Inc. from Kanata Metis Cultural Enterprises Ltd. on July 15, 2014.