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Infinitum Energy Provides Notice of Default to MyTC & eWealthtech

By July 22, 2023No Comments

VANCOUVER, BC / July 22, 2023 / Infinitum Energy Pte. Ltd. (“Infinitum“, “iEg“, or the “Company“) regrets to inform stakeholders that Infinitum has served MyTC Corporation (“MyTC”); its sole shareholder eWealthtech LLC (“eWealth”); and it’s Directors, Mr. Mrudang Patel (“Mru Patel”, or “Patel”) and Mr. Bharat Sevak (“Sevak”) with a notice of default for their subscription of the Company’s $7,500,000 Series A financing jointly announced November 18, 2022.


Infinitum has made numerous attempts over the previous months to find an amicable solution with MyTC, Patel and Sevak. As a result of MyTC not responding to the Notice of Default sent on July 10th, 2023, iEg deems MyTC to have defaulted in its obligations and is therefore in breach of its binding agreements. 

Infinitum reserves the right to seek damages should the Company deem it to be in the Company’s interest. 

Lindsay Nagle, Infinitum’s CEO, commented: “This most regrettable situation is not what we had envisioned with what looked to be a promising collaborative engagement. However, we wish Mru, Bharat and the rest of the MyTC and eWealth team the best in their future endeavours.”

About Infinitum Energy Pte. Ltd.

Infinitum is a climate infrastructure company specializing in the development of clean energy projects within emerging markets. The Company’s core focuses are high-impact solar, wind, and innovative waste-to-energy projects. Through strategic partnerships with leading financial institutions, the team has executed on 42 clean energy projects spanning 13 countries to date, with investments amounting to over $12 billion. Infinitum’s five development-stage projects are located across Sierra Leone, Uganda, Turkey, Mongolia, and Sri Lanka, totalling more than $2.5 billion of expected capital expenditures.

For further information on the Company, please visit 


“Lindsay Nagle”
Director & CEO

For more information contact:

Jeremy Wright, Director & CFO
+1 (604) 837-7990
[email protected]

Unless otherwise denoted, all currencies are denominated in United States of America Dollars.

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This news release may contain forward-looking statements and information concerning the Company; and includes its wholly owned subsidiaries.

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