Hydrogenics Announces Extension of Outside Date for US$21 Million Private Placement
June 08 2017 - 6:00AM
Hydrogenics Corporation (NASDAQ:HYGS) (TSX:HYG)
(the “Company” or “Hydrogenics”), a leading developer and
manufacturer of hydrogen generation and hydrogen-based fuel cell
modules, today announced that, further to its press release of
April 28, 2017 relating to the proposed issuance of 2,682,742
common shares of Hydrogenics to Fuzhou Bonded Zone Hejili Equity
Investment Limited Partnership (“
Hejili”) on a
private placement basis for gross proceeds to Hydrogenics of
US$21,000,000 (the “
Private Placement”), the
Company has exercised its option under the subscription agreement
with Hejili to extend the outside date to close the Private
Placement by 15 days to June 27, 2017. The extension provides
additional time to obtain all applicable stock exchange approvals
and Chinese regulatory approvals.
The Private Placement is subject to certain
closing conditions, including the receipt of final stock exchange
approvals and all applicable Chinese regulatory approvals. The
outside date, after which either the Company or Hejili can
terminate the subscription agreement if closing has not occurred by
such date, is now June 27, 2017, subject to a further 15 day
extension at the option of the Company. There can be no
assurance that the Chinese regulatory approvals will be obtained
before the outside date, as extended, or at all.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
The securities will not be and have not
been registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”), and may not be offered or sold
into the United States or to, or for the account or benefit of U.S.
persons (as defined in Regulation S under the U.S. Securities Act),
absent registration or an exemption from registration
requirements. The securities have not been and
will not be qualified for sale by way of a prospectus under
Canadian securities laws.
About Hydrogenics Hydrogenics
Corporation (www.hydrogenics.com) is a world leader in engineering
and building the technologies required to enable the acceleration
of a global power shift. Headquartered in Mississauga, Ontario,
Hydrogenics provides hydrogen generation, energy storage and
hydrogen power modules to its customers and partners around the
world. Hydrogenics has manufacturing sites in Germany, Belgium and
Canada and service centers in Russia, Europe, the US and
Canada.
About Hejili Headquartered in
Fuzhou, Fujian province, China, Fuzhou Bonded Zone Hejili Equity
Investment Limited Partnership is a limited partnership founded in
2016. Hejili’s partners include Fujian Snowman Co., Ltd.
(SZSE:002639), Ningbo Meishan Bonded Zone Mingde Investment
Partnership, Ningbo Meishan Bonded Zone Mingde Investment
Partnership, and Snow-Hydro Industrial Investment Management
Ltd.
Forward-looking Statements This
release contains forward-looking statements within the meaning of
the “safe harbor” provisions of the U.S. Private Securities
Litigation Reform Act of 1995, and under applicable Canadian
securities law. These statements are based on management’s current
expectations and actual results may differ from these
forward-looking statements due to numerous factors. Readers should
not place undue reliance on Hydrogenics’ forward-looking
statements. Investors are encouraged to review the section
captioned “Risk Factors” in Hydrogenics’ regulatory filings with
the Canadian securities regulatory authorities and the US
Securities and Exchange Commission for a more complete discussion
of factors that could affect Hydrogenics’ future performance.
Furthermore, the forward-looking statements contained herein are
made as of the date of this release, and Hydrogenics undertakes no
obligations to revise or update any forward-looking statements in
order to reflect events or circumstances that may arise after the
date of this release, unless otherwise required by law. The
forward-looking statements contained in this release are expressly
qualified by this.
Investor Contacts:
Bob Motz, Chief Financial Officer
(905) 361-3660
investors@hydrogenics.com
Chris Witty
Hydrogenics Investor Relations
(646) 438-9385
cwitty@darrowir.com
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