TORONTO, Jan. 16, 2017 /CNW/ - Enerdynamic Hybrid
Technologies Corp. ("EHT" or the "Company")
(TSX-V: EHT) announces that it has completed the first tranche
of a private placement that was conditionally accepted by the TSX
Venture Exchange on December 19,
2016. The Company has raised $520,999.95 of gross proceeds from the sale of
units (each a "Unit" and collectively, the "Units")
at a price of $0.15 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-half (1/2) of 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 $0.20 per common share at any time prior to
5:00 p.m. (Eastern Standard Time) on the date that is 24
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 8% of the
gross proceeds raised through the Offering, (b) 277,867 agent
warrants (each an "Agent Warrant", and collectively, the
"Agent Warrants"), representing an amount equal to 8% 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 24 months following the closing of the Offering
at an exercise price of $0.15.
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 131,389,487
issued and outstanding common shares of EHT.
Additional tranche closings under the private placement are
expected to close within the next ten (10) days.
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turn-key energy solutions which are
intelligent, bankable and sustainable. Most 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. In
addition to traditional support to established electrical networks,
EHT excels where no electrical grid exists. The organization
supplies advanced solutions for various industries in combination
with energy saving and energy generation solutions. EHT's expertise
includes the development of module structures with full integration
of smart energy solutions. These are processed through EHT's
production technologies into attractive applications: modular
homes, cold storage facilities, schools, residential and commercial
out buildings and emergency/temporary shelters.
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
forward‐looking 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, including risks related to the
completion of all approvals from applicable regulatory authorities.
Although EHT believes that the assumptions used in preparing the
forward-looking information in this news release are reasonable,
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 Corp.