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.
