X Craft Motors Inc. Acquires Pure Watercraft Inc.'s Assets, Expanding and Accelerating Growth

January 24, 2025
Media Contact: investor_relations@x-craft.ca

Vancouver, BC Canada - We are excited to announce that X Craft Motors Inc. has received a verbal confirmation from Pure Watercraft Inc. regarding our proposal to acquire their assets. While the acquisition is not yet finalized, this marks a significant step forward in our mission to revolutionize the electric marine industry by expanding our capabilities and accelerating business growth.

Strengthening Our Market Position

Pending final agreement, this acquisition would allow X Craft Motors Inc. to secure 720 deposited orders for electric pontoon boats, representing an estimated value of $100 million USD. Additionally, access to Pure Watercraft’s extensive intellectual property portfolio would enhance our technological advancements and production capabilities, reinforcing our position as a leader in the electric marine sector.

A New Chapter for Innovation

Pure Watercraft Inc. has been a pioneer in electric pontoon technology; however, due to financial challenges, the company is filing for bankruptcy. With a finalized agreement, X Craft Motors Inc. would ensure that their innovative legacy continues under our leadership and vision. By integrating Pure Watercraft’s assets, we aim to accelerate the development and delivery of cutting-edge electric marine products to a growing global market.

Commitment to Sustainable Marine Solutions

This potential acquisition aligns with our mission to redefine water-based mobility with sustainable and high-performance electric propulsion systems. We are dedicated to leveraging these resources to drive innovation, enhance customer experience, and meet the increasing demand for eco-friendly marine transportation.

Looking Ahead

As we navigate this exciting opportunity, X Craft Motors Inc. remains committed to pushing the boundaries of electric marine technology. We extend our gratitude to our investors, customers, and partners for their ongoing support. Stay tuned for more updates as we work toward finalizing this acquisition and continue leading the charge toward a cleaner, more sustainable future in marine mobility.

For more information, please kindly visit our website https://x-craft.ca or reach out to investor_relations@x-craft.ca.

X Craft Motors Inc. – Powering the Future of Water Mobility

About X Craft

At X Craft Motors Inc., we are redefining water-based transportation through cutting-edge, eco-friendly solutions. As a pioneering force in the electric marine industry, our mission is to lead the transition towards sustainable and high-performance electric marine products, transforming the way people experience the water. We envision a future where marine adventures are powered by clean, efficient, and high-performance electric propulsion systems. Our unwavering commitment to innovation, sustainability, and superior craftsmanship drives us to develop state-of-the-art electric marine vehicles that set new industry standards and push the boundaries of performance. (X Craft Motors Inc.)

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