TORONTO, Dec. 18, 2015 /CNW/ - Enerdynamic
Hybrid Technologies Corp. ("EHT" or the "Company")
(TSX-V: EHT) announces the filing of early warning reports in
accordance with the early warning requirements of applicable
securities laws, further to its news release, dated December 11, 2015, whereby EHT announced that it
has completed a brokered private placement of units (the
"Private Placement"), pursuant to which the Company issued
5,100,000 units (each a "Unit" and collectively, the
"Units") at a price of $0.30
per unit for aggregate gross proceeds of CDN $1,530,000.00. For context, each Unit consists of
one (1) common share in the capital of the Company and one (1)
share purchase warrant of the Company (a "Warrant"),
entitling the holder thereof to acquire one (1) common share at a
price of $0.40 per common share at
any time prior to 5:00 p.m. (Eastern Standard Time) on
December 11, 2018.
In connection with the Private Placement, Wilmot L. Matthews, resident of Toronto, Ontario, at 200 King Street West,
Suite 1702, M5H 3T4, subscribed for 2,450,000 Units for aggregate
cash consideration of $735,000.00.
Following completion of the Private Placement, Mr. Matthews owns or
exercises control or direction over an aggregate of 8,395,000
common shares of the Company, representing approximately 9.45% of
the issued and outstanding shares of the Company on a non-diluted
basis. In addition, Mr. Matthews owns or exercises control or
direction over warrants to purchase 4,000,000 common shares of the
Company at an exercise price of $0.75
until August 29, 2016, and warrants
to purchase 2,450,000 common shares of the Company at an exercise
price of $0.40 until December 11, 2018. Assuming full exercise of the
warrants, Mr. Matthews would own or exercise control or direction
over 14,845,000 common shares of the Company, representing
approximately 15.58% of the issued and outstanding common shares of
the Company on a partially diluted basis. Mr. Matthews has
indicated that the acquisition of Units under the Private Placement
is for investment purposes and may, in the future, increase or
decrease his ownership of securities of the Company, directly or
indirectly, from time to time depending upon market conditions or
any other relevant factor.
In further connection with the Private Placement, Donald K. Johnson, resident of Toronto, Ontario, at 287 Oriole Parkway, M5P
2H4, subscribed for 2,500,000 Units for aggregate cash
consideration of $750,000.00.
Following completion of the Private Placement, Mr. Johnson owns or
exercises control or direction over an aggregate of 8,000,000
common shares of the Company, representing approximately 9% of the
issued and outstanding shares of the Company on a non-diluted
basis. In addition, Mr. Johnson owns or exercises control or
direction over warrants to purchase 2,500,000 common shares of the
Company at an exercise price of $0.40
until December 11, 2018. Assuming
full exercise of the warrants, Mr. Johnson would own or exercise
control or direction over 10,500,000 common shares of the Company,
representing approximately 11.5% of the issued and outstanding
common shares of the Company on a partially diluted basis. Mr.
Johnson has indicated that the acquisition of Units under the
Private Placement is for investment purposes and may, in the
future, increase or decrease his ownership of securities of the
Company, directly or indirectly, from time to time depending upon
market conditions or any other relevant factor.
The exemption from the prospectus requirement set forth in
Section 2.3 of National Instrument 45-106 – Prospectus
Exemptions was relied upon in connection with the acquisitions
of the Units pursuant to the Private Placement on the basis that
Mr. Matthews and Mr. Johnson are accredited investors.
For a copy of the early warning reports, please contact Mr.
John Gamble at (289)-488-1699.
This news release is being issued as required by National
Instrument 62-103 – The Early Warning System and Related
Take-Over Bid and Insider Reporting Issuers and OSC Rule 62-504
– Take-Over Bids and Issuer Bids. A copy of the early
warning reports required to be filed by Mr. Matthews and Mr.
Johnson with applicable securities commissions in connection with
this acquisition will be filed on SEDAR and will be available for
review at www.sedar.com under the Company's profile.
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.
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
forwardlooking 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. 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 Inc.