TORONTO, Feb. 1, 2017 /CNW/ - EnerDynamic Hybrid
Technologies Corp. ("EHT" or the "Company")
(TSX-V: EHT) is pleased to announce that it has reached
an agreement to settle certain debt obligations (the "Securities
for Debt Transactions") owed to certain creditors in the
aggregate amount of $537,875.08
through the issuance of 1,828,686 common shares of EHT to one
creditor at an exercise price of $0.15 per common share and the issuance of
1,757,144 units of EHT (each a "Unit" and collectively,
"Units") to two creditors at a deemed price per unit of
$0.15.
Each Unit consists of one (1) common share in the capital of EHT
and one-half (1/2) of one (1) share purchase warrant of EHT (a
"Warrant"). Each whole Warrant shall entitle the
holder thereof to acquire one (1) common share at a price of
Twenty Cents ($0.20) per common share at any time prior to
5:00 p.m. (Eastern Standard Time) on
the date that is twenty-four (24) months following the date
hereof.
The Securities for Debt Transactions principally represent the
satisfaction of outstanding debt obligations. Completion of the
Securities for Debt Transactions will allow EHT to preserve its
existing cash balances.
All securities issued in connection with the Securities for Debt
Transactions will be subject to statutory hold periods of four
months plus a day from the date of issuance in accordance with
applicable securities law legislation. The Securities for Debt
Transactions remain subject to final TSX Venture Exchange
approval.
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.