21:08:55 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Enerdynamic Hybrid Technologies Corp
Symbol EHT
Shares Issued 65,589,446
Close 2014-10-24 C$ 0.95
Market Cap C$ 62,309,974
Recent Sedar Documents

Enerdynamic raises $1.3-million from financing tranches

2014-10-24 20:48 ET - News Release

Mr. John Gamble reports

EHT COMPLETES PRIVATE PLACEMENT

Enerdynamic Hybrid Technologies Corp. (formerly MCM Capital One Inc.) has completed the third and fourth tranches, representing the final tranches, of the brokered private placement announced on Sept. 18, 2014. An aggregate of 1.35 million common shares were issued for $1 each to raise gross proceeds of $1.35-million. Pursuant to the third tranche closing on Oct. 21, 2014, a total of 750,000 common shares were issued for $1 each, to raise a total of $750,000. Pursuant to the fourth and final tranche of the private placement closing on Oct. 24, 2014, a total of 600,000 common shares were issued for $1 each to raise a total of $600,000.

Upon the final tranche closing, the offering was completed. Pursuant to the offering, gross proceeds of $3.2-million have been raised through the issuance of 3.2 million common shares.

John Gamble, chief executive officer of the company, indicated: "We are pleased that we have been able to raise the capital needed to further develop and partner on attractive solar energy projects and continue to expand our microutility energy solutions for the benefit of EHT shareholders. The decision to close the financing at this stage was strategic in that it fit within the timing of our business requirements."

Kingsdale Capital Markets Inc. acted as agent for the private placement. Enerdynamic has paid the agent cash compensation of $101,250 and agent warrants to purchase 135,000 common shares of Enerdynamic, in connection with the third tranche closing and the final tranche closing. Each warrant is exercisable for one common share at a price of $1 on or before Oct. 2, 2016. The securities issued in the third tranche closing are subject to a four-month hold period, which expires on Feb. 22, 2015. The securities issued in the final tranche closing are subject to a four-month hold period, which expires on Feb. 25, 2015.

Proceeds from the offering will be used for working capital and potentially to acquire the rights to certain solar energy projects now under negotiation.

Following completion of the offering, there are 65,589,446 issued and outstanding common shares of Enerdynamic.

We seek Safe Harbor.

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