EHT Announces Conversion of All Outstanding Convertible Notes
TORONTO, ONTARIO / ACCESSWIRE / July 27, 2016 / Enerdynamic Hybrid Technologies Corp. (TSXV: EHT) (“EHT” or the “Company”) is pleased to announce that all note holders that participated in previously announced private placement of 3,625 secured subordinated convertible notes (the “Notes”) of the Company have converted their notes into units (each a “Unit” and collectively “Units”) of the Company at a conversion price per Unit of $0.15. Each Unit is comprised of one common shares of the Company (“Common Share”) and one common share purchase warrant (a “Warrant”) of the Company. Each Warrant will entitle the holder thereof, on exercise, to purchase one additional common share of the Company (a “Warrant Share”) at an exercise price of $0.30 per Warrant Share for a period of 5 years following the issuance of the Notes. Pursuant to the conversion, the Company issued a total of 24,166,667 Common Shares and 24,166,667 Warrants.
The Company no longer intends on closing any additional tranches of the private placement of Notes.
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. 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. Forward-looking information in this news release includes statements regarding, among other things, the closing of the Final Tranche. Although EHT believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, 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:
John Gamble
Director
(289) 488-1699
Company Website: www.ehthybrid.com
SOURCE: Enerdynamic Hybrid Technologies Corp.
ReleaseID: 442896
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