TORONTO, Feb. 1, 2017 /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 Transactions") owed to certain creditors in the aggregate amount of $537,875.08 through the issuance of 1,828,686 common shares of EHT to one creditor at an exercise price of $0.15 per common share and the issuance of 1,757,144 units of EHT (each a "Unit" and collectively, "Units") to two creditors at a deemed price per unit of $0.15.
Each Unit consists of one (1) common share in the capital of EHT and one-half (1/2) of one (1) share purchase warrant of EHT (a "Warrant"). Each whole Warrant shall entitle the holder thereof to acquire one (1) common share at a price of Twenty Cents ($0.20) per common share at any time prior to 5:00 p.m. (Eastern Standard Time) on the date that is twenty-four (24) months following the date hereof.
The Securities for Debt Transactions principally represent the satisfaction of outstanding debt obligations. Completion of the Securities for Debt Transactions will allow EHT to preserve its existing cash balances.
All securities issued in connection with the Securities for Debt Transactions will be subject to statutory hold periods of four months plus a day from the date of issuance in accordance with applicable securities law legislation. The Securities for Debt Transactions remain 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. The organization supplies advanced solutions for various industries in combination with energy saving and energy generation solutions. EHT's expertise includes the development of module structures with full integration of smart energy 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, including risks related to the completion of all approvals from applicable regulatory authorities. Although EHT believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, 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.
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For further information: John Gamble, Director, (289) 488-1699, [email protected]; Company Website: www.ehthybrid.com; Lorie Laurence, Administrative Assistant, (289) 488-1699, [email protected], Company Website: www.ehthybrid.com