NIAGARA FALLS, ON / ACCESSWIRE / November 26, 2021 / EnerDynamic Hybrid Technologies Corp. ('EHT' or the 'Company') (TSXV:EHT) is pleased to announce that it has completed a non-brokered private placement of $1,500,000. The Company issued 6,000,000 units at a price of $0.25 per unit (each a 'Unit' and collectively, the 'Units') with each Unit consisting of one common share and one half of one common share purchase warrant (a '1/2 Warrant'). Each whole Warrant is exercisable for one common share of the Company at a price of $0.50 per share for a term of 24 months after closing until November 26, 2023 (the 'Offering'). No finder's fees were paid in connection with this Offering.
The net proceeds from the Offering will be used by the Company for general working capital purposes. The Offering is subject to the approval of the TSX Venture Exchange (the 'Exchange') and other relevant regulatory authorities. All securities issued under the Offering, including common shares underlying the Warrants, are subject to a four month and one day hold period until March 27, 2022, in accordance with applicable securities legislation and the policies of the Exchange.
A director and an officer of the Company have subscribed to this Offering therefor related party considerations pursuant to Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101') apply. The Company has relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 as neither the fair market value of the subject matter, nor the fair market value of the consideration for, the transaction insofar as the transaction involved interested parties exceeded 25% of the Company's market capitalization.
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 (TSXV: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 outbuildings and emergency/temporary shelters. The Windular Research and Technologies Inc. (WRT) division provides leading edge wind technology to the global telecommunication market whereby the WRT system can be implemented directly on any configuration of existing or new towers. WRT provides a renewable source of power in remote and rural locations where the primary source of power is diesel. WRT's innovative system provides clients with a lower overall operating cost as well as a reduction in their carbon
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.
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SOURCE: EnerDynamic Hybrid Technologies Corp.
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