TORONTO, Dec. 11, 2015 /CNW/ - EnerDynamic Hybrid
Technologies Corp. ("EHT" or the "Company")
(TSX-V: EHT) announces that it has completed a private
placement that was conditionally accepted by the TSX Venture
Exchange on December 10, 2015. The
Company has raised $1,530,000 of
gross proceeds from the sale of units (each a "Unit" and
collectively, the "Units") at a price of $0.30 each (the "Offering"), on a brokered
private placement basis.
Each Unit consists of one (1) common share in the capital of the
Company and one (1) share purchase warrant of the Company (a
"Warrant"). Each Warrant entitles the holder thereof to
acquire one (1) common share at a price of $0.40 per common share at any time prior to
5:00 p.m. (Eastern Standard Time) on the date that is 36
months following the closing date of the Offering.
Proceeds from the private placement will be used for general
working capital purposes.
EHT has engaged Kingsdale Capital Markets Inc. (the
"Agent") to act as the agent for the Offering. The Agent has
received (a) a cash commission in an amount equal to 7% of the
gross proceeds raised through the Offering, (b) 510,000 agent
warrants (each an "Agent Warrant", and collectively, the
"Agent Warrants"), representing an amount equal to 10% of
the Units issued pursuant to the Offering, and (c) reimbursement of
the expenses of the Agent. Each Agent Warrant is exercisable for
one (1) Unit during the 36 months following the closing of the
Offering at an exercise price of $0.40.
Pursuant to applicable securities laws, all securities issued
under the Offering are subject to a four month and a day hold
period from the date of issuance. The Offering is subject to the
final approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell, or a
solicitation of an offer to buy, any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and may not be offered or
sold within the United States or
to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
Following completion of the Offering, there are 88,837,487
issued and outstanding common shares of EHT.
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turn-key energy solutions which are
intelligent, bankable and sustainable. Our energy products
and solutions can be implemented immediately wherever they are
needed. EHT stands above its competitors by combining a full suite
of solar PV, wind and battery storage solutions, which can deliver
energy 24 hours per day in both small-scale and large-scale format.
Through our 90,000 square foot facility in Ontario, Canada and our growing international
foot-print we are able to manufacture, distribute and install world
leading energy solutions across the globe. EHT excels where no
electrical grid exists in addition to traditional support to
established electrical networks which is the new era in the
renewable industry.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
The statements herein that are not historical facts are
forwardlooking statements. Forward-looking information
involves risk, uncertainties and other factors that could cause
actual events, results, performance, prospects, and opportunities
to differ materially from those expressed or implied by such
forward-looking information. Although EHT believes that the
assumptions used in preparing the forward-looking information in
this news release are reasonable, including that all necessary
regulatory approvals will be obtained in a timely manner, undue
reliance should not be placed on such information, which only
applies as of the date of this news release, and no assurance can
be given that such events will occur in the disclosed time frames
or at all. EHT disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
applicable securities laws.
SOURCE Enerdynamic Hybrid Technologies Inc.