TORONTO, Oct. 15, 2015 /CNW/ - Further to its press release, dated October 2, 2015, Enerdynamic Hybrid Technologies Corp. ("EHT" or the "Company") (TSX-V: EHT) announces that its application to its principal regulator, the Ontario Securities Commission (the "OSC"), for a management cease trade order (the "MCTO") under National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203") has been granted. As previously announced on October 2, 2015 by way of press release, the application for the MCTO was made by the Company as a result of its failure to comply with the requirements of Section 4.1 of National Instrument 51-102 Continuous Disclosure Obligations with respect to filing audited annual comparative financial statements (the "Default").
The MCTO restricts all trading in securities of the Company, whether direct or indirect, by the Chief Executive Officer and the Chief Financial Officer until such time as the Default has been remedied by the Company. The MCTO does not affect the ability of shareholders to trade their securities. However, the applicable Canadian securities regulatory authorities could determine, in their discretion, that it would be appropriate to issue a general cease trade order against the Company affecting all of the securities of the Company.
As previously announced, the Company confirms that it will 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, EHT will 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. 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. 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.
SOURCE Enerdynamic Hybrid Technologies Inc.