Hydro Power Technologies, Inc. (PYBX) Provides Corporate Update On Its Release of Private Placement Memorandum and Plans for
17 Juin 2021 - 3:15PM
InvestorsHub NewsWire
Hydro Power
Technologies, Inc. (PYBX) Provides Corporate
Update On Its Release of Private Placement
Memorandum and Plans for Uplifting
Company
Burlington, ONT, (Canada) -- June 17, 2021 --
InvestorsHub NewsWire -- Hydro Power Technologies, Inc. (OTC
Pink: PYBX) ("PYBX" or the "Company"), a diversified holding
company with assets in green energy platforms, including ones such
as hydropower, solar, and ORC technology is pleased to provide an
Corporate Update:
Hydro Power Technology Inc. is releasing a Five
Million USD Private Placement Memorandum utilizing its Preferred
Series B Shares in order to provide funding for additional
development of its Hydro Power turbine hydro generation system;
Bioenzyme; Zuc Energy and Italcar investments. The Company
anticipates it will complete the funding by October 1st
2021.
Hydro Power Technology Inc. will be completing the
engagement with an International Accounting Firm to provide a PCAOB
Audit in order to file a Form 10 or S1 with the Securities and
Exchange Commission and uplift as a fully reporting SEC company
versus its current Alternative Reporting Status with OTC Markets.
The current management has been in discussion with the British
Columbia Securities Commission regarding the 2012 Cease Trade Order
and has been advised the Company needs to complete the "fully
reporting status" to have the CTO terminated and our Canada
shareholders have the ability to acquire or sell their securities.
The Company will be providing further updates on the completion of
the engagement with the agreed upon PCAOB firm.
About Hydro Power Technologies, Inc.
f/k/a/ Playbox (US), Inc.:
Hydro Power Technologies' mission is to provide
and to continue to develop new innovative green hydropower
technology options that are grid ready, safe, reliable and cost
effective to energy providers worldwide. HPT has also developed a
system to increase the power output of an impact turbine hydro
generation system. The first generation of products from the
HPT system known as "Hammer1", utilizes hydraulic water phenomena
to produce rapid fire, high speed, long water projectiles that have
a velocity 1.25 to 1.30 times greater velocity than the traditional
"Free Flow" turbines in operation today. The additional velocity
increases the rotational torque of the impact turbine runner thus
increasing the power generation much more efficiently than today's
installed power generation plants.
Contact
Information:
Michael Shamber
Hydro Power Technologies, Inc.
888-993-0989
info@hydropowertechnologies.com
https://twitter.com/HydroPowerTech
FORWARD-LOOKING
STATEMENTS
This press release includes "forward-looking
statements" within the meaning of U.S. federal securities laws.
Words such as "expect," "estimate," "project," "budget,"
"forecast," "anticipate," "intend," "plan," "may," "will," "could,"
"should," "believes," "predicts," "potential," "continue" and
similar expressions are intended to identify such forward-looking
statements. These forward-looking statements involve significant
risks and uncertainties that could cause the actual results to
differ materially from the expected results and, consequently, you
should not rely on these forward-looking statements as predictions
of future events. These forward-looking statements and factors that
may cause such differences include, without limitation inability to
enter into a definitive agreement with respect to the proposed
transaction or to complete the transactions contemplated by the
non-binding term sheet, matters discovered by the parties as they
complete their respective due diligence investigation of the other.
Other factors include the possibility that the proposed transaction
does not close, including due to the failure to receive required
security holder approvals, or the failure of other closing
conditions. The foregoing list of factors is not exclusive. Readers
are cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date
made.
Hydro Power Technologies (PK) (USOTC:PYBX)
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