TORONTO, ON / ACCESSWIRE / February 14, 2020 / EnerDynamic Hybrid Technologies Corp. (“EHT” or the “Company“) (TSX-V:EHT) is pleased to announce that it has completed a non-brokered private placement that was conditionally accepted by the TSX Venture Exchange (the “Exchange“) on February 10, 2020. The Company raised gross proceeds of $350,000 from the sale of 7,000,000 units at a price of $0.05 per unit (each a “Unit” and collectively, the “Units“) (the “Offering“).
Each Unit consists of one common share and one common share purchase warrant (a “Warrant“). Each Warrant entitles the holder thereof to acquire one common share of the Company at a per share price of $0.05 for a term of 36 months (the “Warrant Expiry Date“) from the applicable closing date (the “Closing Date“) except in the event that during the period following four months and one day after the Closing Date, the trading price of the common shares exceeds $0.10 per common share for 10 consecutive days, the Company may at any time thereafter accelerate the Warrant Expiry Date to the date that is 30 calendar days after the date on which the Company issues notice to all holders of the Warrants of the new accelerated expiry date. No finder’s fees were paid in connection with this Offering.
The net proceeds from the Offering will be used by the Company to fund the Company’s product commercialization, sales and marketing and for general working capital purposes. All securities issued under the Offering, including common shares issued pursuant to the underlying Warrants, are subject to a four month and one day hold period until June 15, 2020, in accordance with applicable securities legislation and the Offering is subject to final acceptance by the 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. EHT’s expertise includes the development of its ENERTEC module structures with full integration of smart energy solutions. Using a proprietary skin and foam core that is stronger than traditional wood or steel structural insulated panels, EHT provides exceptional thermal energy efficiency in modular homes, cold storage facilities, residential/commercial out buildings and emergency/temporary shelters. EHT works with its partners worldwide to erect the buildings on-site utilizing EHT staff and local crews. In addition to traditional support to established electrical networks, ENERTEC buildings excel where no electrical grid exists.
The EHT advanced ENERTEC Modular Wall and Roof System uses a proprietary skin and foam core that is stronger and more energy efficient than traditional wood or steel structures providing the highest ratings for energy efficiency. EHT works with its partners worldwide to erect the buildings on-site utilizing EHT staff and local crews. After installation, each structure can be furnished and finished to meet the customer’s requirements including siding, tile, kitchens and bathrooms or segregated commercial rooms. The finished wall product can be shipped on pallets and delivered via rail, truck or water in standard formats.
At the core of the ENERTEC product line is the ENERTEC Embedded Solar Roof Module. Solar cells are embedded in a proprietary fireproof skin resulting in substantial cost savings by eliminating heavy glass panels and aluminum racking required for traditional solar panels. Two barriers to greater adoption of solar energy are weight limitations of the roof on which solar panels could be deployed and onerous shipping and labour costs. A lighter product at a better price point will open a larger market for solar due to the faster return of capital investment especially for rural and remote users looking to go off-grid. Furthermore, the entire EHT embedded solar roof becomes a massive solar panel capable of producing significantly more energy than the home requires, allowing the structure to then become an important source of power for the local micro grid or large battery storage systems.
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.
FOR FURTHER INFORMATION. PLEASE CONTACT:
Company Website: www.ehthybrid.com
Company Website: www.ehthybrid.com
SOURCE: EnerDynamic Hybrid Technologies Corp.
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