TORONTO, Feb. 14, 2017 /CNW/ - EnerDynamic
Hybrid Technologies Corp. ("EHT" or the "Company")
(TSX-V: EHT) has closed the first and second tranches of
a private placement conditionally accepted by the TSX Venture
Exchange on December 19, 2016 (the
"Offering").
Pursuant to the Offering, the Company has raised $889,099.95 of gross proceeds from the sale of
units at a price of $0.15 each (each
a "Unit" and, collectively, "Units"), 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 issuance date.
Kingsdale Capital Markets Inc. has acted 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, and
(b) 474,187 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
issuance date at an exercise price of $0.15.
The Company has applied for and received consent from the TSX
Venture Exchange to extend the closing dates of further tranches
under the Offering for a period of thirty (30) calendar days.
Proceeds from the Offering will be used for general working
capital purposes.
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.
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.