EEStor Corporation to Complete Private Placement
2019年11月16日 - 12:46AM
InvestorsHub NewsWire
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Toronto, ON -- November 15, 2019 -- InvestorsHub NewsWire -- EEStor
Corporation (TSX.V: “ESU-V”) (“EEStor”), is
pleased to announce that it will conduct a non-brokered private
placement of up to 7,000,000 units (each, a
“Unit”), at a price of $0.05 per Unit, for gross
proceeds of up to $350,000. Each “Unit” will
consist of one common share, and one common share purchase warrant,
entitling the holder to acquire an additional common share at a
price of $0.10 for a period of twenty-four months.
EEStor anticipates utilizing the proceeds from the placement to
accelerate due diligence in connection with its proposed
acquisition of FWG Ltd. (the “Acquisition”),
announced on November 13, 2019, with specific emphasis on the
completion of multi-source third party validation of their
carbon-based battery and graphene-based capacitor technologies, and
for general working capital purposes. The Acquisition is not
contingent on completion of the placement, but EEStor does require
additional working capital prior to completion of the
Acquisition.
Ian Clifford, Founder and CEO of EEStor commented: “This financing
is intended to build on the momentum of the contemplated
acquisition of FWG. We have third party independent
certifications ready to implement to confirm and expand upon
internal testing results. Assuming a positive outcome on
these certifications, we potentially have the basis of a disruptive
lead acid battery replacement.”
The placement will be available to accredited investors in Canada,
and eligible international investors. In connection with the
placement, EEStor may pay finders fees to eligible parties who have
assisted by introducing subscribers. Completion of the
placement remains subject to the approval of the TSX Venture
Exchange. All securities to be issued in connection with the
private placement will be subject to a four-month-and-one-day
statutory hold period in accordance with applicable securities
laws.
About EEStor
EEStor is a developer of high energy density solid-state capacitor
technology utilizing patented Composition Modified Barium Titanate
(CMBT) material. EEStor is focused on providing commercially
viable energy storage solutions across a broad spectrum of
industries and applications.
Neither the 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.
All statements, other than statements of historical fact,
contained in this press release including, but not limited to (i)
generally, or the “About EEStor” paragraph which essentially
describes the Corporation’s outlook and objectives, constitute
''forward-looking information'' or ''forward-looking statements''
within the meaning of certain securities laws, and are based on
expectations, estimates and projections as of the time of this
press release. Forward looking statements are necessarily based
upon a number of estimates and assumptions that, while considered
reasonable by the Corporation as of the time of such statements,
are inherently subject to significant business, economic and
competitive uncertainties and contingencies. These estimates and
assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or
indirectly affect, and could cause, actual results to differ
materially from those expressed or implied in any forward-looking
statements. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Forward-looking statements are provided for the purpose
of providing information about management's expectations and plans
relating to the future. The Corporation disclaims any intention or
obligation to update or revise any forward-looking statements or to
explain any material difference between subsequent actual events
and such forward-looking statements, except to the extent required
by applicable law.
FOR FURTHER INFORMATION, PLEASE CONTACT:
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