EHT Announces Late Filing of Annual Financial Statements

TORONTO, ON / ACCESSWIRE / March 31, 2016 / Enerdynamic Hybrid Technologies Corp. (TSXV: EHT) (“EHT” or the “Company“) announces that the filing of its audited annual consolidated financial statements, accompanying management’s discussion and analysis, and the related officer certifications for the financial year ended November 30, 2015 (collectively, the “2015 Annual Filings“) has been delayed beyond the filing deadline for the 2015 Annual Filings, being March 29, 2016, as prescribed by Parts 4 and 5 of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102“) and pursuant to National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings.

The Company remains in default of the continuous disclosure requirements set out at Section 4.1 of NI 51-102 as a result of its failure to include audited comparative financial statements as at and for the year ended November 30, 2013, as included in its November 30, 2014 audited annual financial statements (the “Default“).

Further to the Company’s news release of March 23, 2016, the Company intends to refile its audited annual financial statements as at and for the year ended November 30, 2014 (the “2014 Financial Statements“) and its audited annual comparative financial statements as at and for the year ended November 30, 2013, which will include the refiling of an independent auditor’s report issued by Richter LLP with respect to the 2014 Financial Statements. The Company’s board of directors and management are currently working expeditiously to remedy the Default and file the 2015 Annual Filings as promptly as practicable following the remedy of the Default.

The Company confirms that it remains subject to the management cease trade orders issued by the Ontario Securities Commission (the “OSC“) on October 28, 2015, November 4, 2015, and November 16, 2015 in respect of the Company’s Chief Executive Officer and Chief Financial Officer at such times (collectively, the “MCTOs“), and the Company further confirms that it has been noted in default on the OSC public default list as a result of the failure to file its 2015 Annual Filings by the applicable filing deadline.

As previously announced, the Company confirms that it will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 for so long as it remains in Default. During the period of Default, the Company will continue to issue bi-weekly Default status reports in the form of further press releases, which will also be filed on SEDAR.

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. Through its recent acquisitions and new product developments, the organization now supplies advanced material solutions for various industries in combination with energy saving and energy generation solutions. EHT’s core expertise lies in the development of innovative composite material systems with a full integration of smart energy solutions, which are processed through the use of EHT’s proprietary production technologies into attractive applications- primarily modular homes, cold storage facilities, modular hospitals, schools, hotels and residential and commercial buildings.

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 remedy of the Default. 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
jgamble@ehthybrid.com
Company Website: www.ehthybrid.com

Stephanie Thompson
Administrative Assistant
(289) 488-1699
info@ehthybrid.com
Company Website: www.ehthybrid.com

SOURCE: Enerdynamic Hybrid Technologies Corp. 

ReleaseID: 438324