TORONTO, Jan. 4, 2018 /CNW/ - EnerDynamic Hybrid
Technologies Corp. ("EHT" or the "Company")
(TSX-V: EHT) is pleased to announce that it has reached an
agreement to settle certain debt obligations owed to a certain
creditor in the aggregate amount of $100,000.00 through the issuance of 909,091
common shares of EHT to such creditor at a deemed price per share
of $0.11 (the "Securities for Debt
Transaction").
The Company's decision to complete the Securities for Debt
Transaction is intended to preserve its existing cash balances.
All securities issuable in connection with the Securities for
Debt Transaction will be subject to statutory hold periods of 4
months and 1 day from the date of issuance in accordance with
applicable securities law legislation. The Securities for Debt
Transaction remains subject to the approval of the TSX Venture
Exchange.
About ENERTEC
The EHT advanced ENERTEC Modular Wall and Roof System uses a
proprietary skin and foam core that is stronger and more energy
efficient than traditional wood or steel structures providing the
highest ratings for energy efficiency. EHT works with its
partners worldwide to erect the buildings on-site utilizing EHT
staff and local crews. After installation, each structure can
be furnished and finished to meet the customer's requirements
including siding, tile, kitchens and bathrooms or segregated
commercial rooms. The finished wall product can be shipped on
pallets and delivered via rail, truck or water in standard
formats.
At the core of the ENERTEC product line is the ENERTEC Embedded
Solar Roof Module. Solar cells can be embedded in a proprietary
fire proof skin resulting in substantial cost savings by
eliminating heavy glass panels and aluminum racking required for
traditional solar panels. Two barriers to greater adoption of solar
energy are weight limitations of the roof on which solar panels
could be deployed and onerous shipping and labour costs. A lighter
product at a better price point will open a larger market for solar
due to the faster return of capital investment especially for rural
and remote users looking to go off-grid. Furthermore, the entire
EHT embedded solar roof becomes a massive solar panel capable of
producing significantly more energy than the home requires,
allowing the structure to then become an important source of power
for the local micro grid or large battery storage systems.
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turn-key energy solutions which are
intelligent, bankable and sustainable. Most 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. In
addition to traditional support to established electrical networks,
EHT excels where no electrical grid exists. The organization
supplies advanced solutions for various industries in combination
with energy saving and energy generation solutions. EHT's expertise
includes the development of module structures with full integration
of smart energy solutions. These are processed through EHT's
production technologies into attractive applications: modular
homes, cold storage facilities, schools, residential and commercial
out buildings and emergency/temporary shelters.
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
forward‐looking 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, including risks related to the
completion of all approvals from applicable regulatory authorities
and the completion and execution of final debt settlement
agreements in respect of the Securities for Debt Transaction.
Although EHT believes that the assumptions used in preparing the
forward-looking information in this news release are reasonable,
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 Corp.