As a further condition of the Agreement, CleanSpark and PPSI entered into a Non-Competition and Non-Solicitation Agreement whereby Pioneer Power agreed, among other things, to not compete with the Company or solicit employees or customers of the Company for a period of four years. The Company further acquired executed contracts, which it expects will result in approximately $3.6 million in gross sales during early 2019. CleanSpark plans to utilize its new intellectual property to enter into the switchgear equipment sales industry. Through this acquisition, the Company became the sole owner of strategic intellectual property currently held by PCPI. Pioneer will continue to retain and operate that business under the PCPI name and CleanSpark will change the name of the acquired entity to CleanSpark Critical Power Systems, Inc., no later than February 22, 2019. #CLEANSPARK INVESTOR RELATIONS GENERATOR#The entity acquired is not related to Pioneer's engine generator business headquartered in Minneapolis, Minnesota operating under the same name. (NASDAQ: PPSI), a company engaged in the manufacture, sale and service of electrical transmission, distribution and on-site power generation equipment, today announced that the two companies have closed a merger transaction wherein CleanSpark acquired Pioneer's wholly owned subsidiary, Pioneer Critical Power, Inc. (OTC: CLSK) (the "Company"), a microgrid company with advanced engineering, software and controls for innovative distributed energy resource management systems, and Pioneer Power Solutions, Inc.
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