/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION
IN CANADA ONLY AND IS NOT INTENDED
FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES/
All monetary amounts are expressed in Canadian
Dollars, unless otherwise indicated.
CALGARY, AB, April 27, 2021 /CNW/ - Eguana Technologies
Inc. (TSXV: EGT) (OTCQB: EGTYF) ("Eguana" or the
"Company") is pleased to announce that, further to its press
release dated February 25, 2021, it
has filed a preliminary short form prospectus (the
"Prospectus") with the securities commissions in the
Provinces of Alberta, British Columbia, Manitoba, New
Brunswick, Nova Scotia and
Ontario (the "Qualifying
jurisdictions"), in connection with its previously announced
private placement (the "Offering") of 50,000,000 special
warrants of the Company (the "Special Warrants"). A copy of
the Prospectus is available under the Company's profile on SEDAR at
www.sedar.com.
The Prospectus was filed in connection with the anticipated
distribution of 50,000,000 common shares in the capital of the
Company (the "Common Shares"), issuable for no additional
consideration upon the exercise or deemed exercise of Special
Warrants. The Special Warrants were issued on February 25, 2021, at a price of $0.40 per
Special Warrant, to purchasers in each of the Qualifying
Jurisdictions and certain other jurisdictions pursuant to the
terms of a special warrant indenture dated February 25, 2021 between the Company and TSX
Trust Company, in its capacity as Special Warrant agent and an
agency agreement dated February 25,
2021 among the Company, Stifel GMP and Cormark Securities
Inc., as co-lead and joint bookrunners, together with Research
Capital Corporation.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale
would be unlawful. The securities have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended (the "1933 Act") and may not be offered or sold to,
or for the account or benefit of, persons in the United States or "U.S. persons" (as such
term is defined in Regulation S under the 1933 Act) absent
registration or an applicable exemption from the registration
requirements of the 1933 Act any application state securities
laws.
The Prospectus is currently being reviewed by the Alberta
Securities Commission and has not yet become final for the purpose
of the distribution. There can be no assurance that a receipt for
the Company's final short form prospectus will be issued.
Certain directors and officers of the Company participated in
the Offering. As a result, the Offering constituted a related-party
transaction under Multilateral Instrument 61-101 - Protection of
Minority Security Holders in Special Transactions ("MI
61-101"). The Offering was exempt from the formal valuation and
minority shareholder approval requirements of MI 61-101 pursuant to
sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair
market value of the securities issued, nor the consideration
provided therefore exceed 25% of the Company's market
capitalization.
About Eguana Technologies Inc.
Based in Calgary, Alberta
Canada, Eguana Technologies (EGT: TSX.V) (OTCQB: EGTYF)
designs and manufactures high performance residential and
commercial energy storage systems. Eguana has two decades of
experience delivering grid edge power electronics for fuel cell,
photovoltaic and battery applications, and delivers proven,
durable, high quality solutions from its high capacity
manufacturing facilities in Europe
and North America.
With thousands of its proprietary energy storage inverters
deployed in the European and North American markets, Eguana is one
of the leading suppliers of power controls for solar
self-consumption, grid services and demand charge applications at
the grid edge.
To learn more, visit www.EguanaTech.com or follow us on
Twitter @EguanaTech
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release.
Cautionary Statement Regarding Forward-Looking
Information
This news release contains "forward-looking statements" that are
based on expectations, estimates, projections and interpretations
as at the date of this news release. Forward-looking statements are
frequently characterized by words such as "plan", "expect",
"project", "seek", "intend", "believe", "anticipate", "estimate",
"suggest", "indicate" and other similar words or statements that
certain events or conditions "may" or "will" occur, and include,
without limitation, statements regarding the expected timing for
obtaining a final receipt for the Prospectus and receipt of all
requisite regulatory approvals, the Company's future financial and
business plans and the expected effects thereof. Such forward
looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Such risks and other factors may
include, but are not limited to, the ability to obtain all
requisite regulatory approvals including those of the securities
regulatory authorities in respect of the Prospectus; the results of
business operation; the ability of the Company to acquire further
customers; the uncertainty surrounding the spread of COVID-19 and
the impact it will have on the Company's operations and economic
activity in general and those risk factors outlined in the
Company's management discussion and analysis as filed on SEDAR. The
Company does not undertake to update any forward-looking
information except in accordance with applicable securities
laws.
SOURCE Eguana Technologies Inc.
