TORONTO, Sept. 16, 2016 /CNW/ - EnerDynamic Hybrid Technologies Corp. ("EHT" or the "Company") (TSX-V: EHT) is pleased to announce that it has reached an agreement to settle certain debt obligations (the "Securities for Debt Transaction") owed to a creditor in the amount of $2,000,000.00 through the issuance of 22,033,333 common share purchase warrants of EHT to such creditor at an exercise price of $0.115 per common share.
The Securities for Debt Transaction principally represents the satisfaction of outstanding debt obligations. Completion of the Securities for Debt Transaction will allow EHT to preserve its existing cash balances.
All securities issued in connection with the Securities for Debt Transaction will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities law legislation. The Securities for Debt Transaction remains subject to final TSX Venture Exchange approval.
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. 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, [email protected], Company Website: www.ehthybrid.com; Stephanie Thompson, Administrative Assistant, (289) 488-1699, [email protected], Company Website: www.ehthybrid.com