TORONTO, Dec. 15, 2015 /CNW/ - Enerdynamic Hybrid Technologies Corp. ("EHT" or the "Company") (TSX-V: EHT) wishes to confirm that its early warrant exercise incentive program (the "Warrant Incentive Program") as described in its press release dated August 24, 2015, was successfully completed on September 29, 2015. In connection with the Warrant Incentive Program, 1,832,500 Warrants were exercised, providing gross proceeds of $916,250 to the Company and resulting in the Company issuing 1,832,500 Common Shares and 458,125 whole incentive warrants ("Incentive Warrants").
As disclosed in its August 24, 2015 press release, the Company is using the net proceeds of the Warrant Incentive Program to support its planned growth initiatives and general working capital purposes. The Incentive Warrants and the Common Shares issuable on exercise thereof are subject to a four month hold period that commenced on the date of issuance of the Incentive Warrants pursuant to applicable Canadian securities laws.
All warrants that were not exercised under the Warrant Incentive Program will continue to entitle the holder to acquire one (1) Common Share at the exercise price of $0.75 per Common Share until August 29, 2016 in accordance with its terms and the terms of the warrant indenture governing the Warrants.
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turn-key energy solutions which are intelligent, bankable and sustainable. Our 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. Through our 90,000 square foot facility in Ontario, Canada and our growing international foot-print we are able to manufacture, distribute and install world leading energy solutions across the globe. EHT excels where no electrical grid exists in addition to traditional support to established electrical networks which is the new era in the renewable industry.
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 forwardlooking 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. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. 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.
SOURCE Enerdynamic Hybrid Technologies Corp.
For further information: John Gamble, Director, (289) 488-1699, firstname.lastname@example.org, Company Website: www.ehthybrid.com; Stephanie Thompson, Administrative Assistant, (289) 488-1699, email@example.com, Company Website: www.ehthybrid.com