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UNITED STATES/
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CALGARY, AB, May 11, 2021 /CNW/ - Eguana Technologies
Inc. (TSXV: EGT) (OTCQB: EGTYF) ("Eguana" or the
"Company") is pleased to announce that, further to its press
releases dated February 25, 2021 and
April 27, 2021, it has filed a final
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") and received a receipt from such securities
commissions, 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 (the "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
(collectively, the "Agents").
Pursuant to the terms of the Warrant Indenture, each Special
Warrant will be automatically exercised, for no additional
consideration, into a Common Share, and such Common Shares will be
issued to the holders of Special Warrants, within three business
days of the date hereof.
Minden Gross LLP acted as legal counsel to Eguana, and Stikeman
Elliott LLP acted as legal counsel to the Agents.
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.
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 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 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 Prospectus and in the Company's management's
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.