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TORONTO, Oct. 6, 2014 /CNW/ - Enerdynamic Hybrid Technologies Corp. (formerly MCM Capital One Inc.) (TSX-V: EHT) ("EHT" or the "Company") announced today that it has completed the first and second tranche closings of the brokered private placement announced on September 18, 2014. An aggregate of 1,850,000 common shares were issued for $1.00 each to raise a total of $1,850,000.00. Pursuant to the first tranche closing on October 2, 2014 (the "First Tranche Closing"), a total of 850,000 common shares were issued for $1.00 each to raise a total of $850,000.00. Pursuant to the second tranche closing on October 3, 2014 (the "Second Tranche Closing"), a total of 1,000,000 common shares were issued for $1.00 each to raise a total of $1,000,000.00. Kingsdale Capital Markets Inc. acted as agent in the tranche closings and received total cash compensation of $138,750.00 and broker warrants to purchase 185,000 common shares of EHT. The broker warrants are exercisable for $1.00 per share, expiring on October 2, 2016.
The securities issued in the First Tranche Closing are subject to a four month hold period which expires on February 3, 2015. The securities issued in the Second Tranche Closing are subject to a four month hold period which expires on February 4, 2015.
Following completion of the first and second tranches of the private placement, there are 64,239,446 issued and outstanding common shares of EHT.
Additional tranche closings under the private placement are expected to close within the next five (5) days.
The information in this news release includes certain information and statements that constitute forward-looking information. These forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may vary materially from those anticipated and indicated by these forward-looking statements. Although EHT believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will provide to be correct. Except as required by law, EHT disclaims any intention and assumes no obligation to update or revise and forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
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.
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.
SOURCE: Enerdynamic Hybrid Technologies Corp.
For further information: David Prue, Corporate Communications, 905-401-8303, [email protected]; Wanda Cutler, Media/Investor Relations, 416-303-6460, [email protected]; Rob Fia, Director, 416-867-2353, [email protected]; Company Website: www.ehthybrid.com