TORONTO, April 8, 2019 /CNW/ -- CellCube Energy Storage
Systems Inc. ("CellCube" or the "Company") (CSE: CUBE) (CSE:
CUBE.CN) (OTCQB: CECBF) (Frankfurt: 01X) (WKN: A2JMGP) is
pleased to announce the Company has extended the
non-binding letter of intent ("LOI") agreement with Regency Gold
Corp. (RAU.H TSX V) to May 15,
2019.
The two companies entered into an Extension Agreement of the LOI
for the purpose of a business combination (news release dated
December 13, 2018 and
January 24th, 2019). The
Extension Agreement dated April 2,
2019 will allow the parties to agree they would have until
5:00 pm (Eastern Time) on
May 15, 2019 to conduct due diligence
on each other and the transaction in accordance with the terms of
the LOI.
The completion of the business combination is subject to a
number of conditions, including the receipt of all required
regulatory and third-party consents, including the approval of the
TSXV, and the satisfaction of other customary closing conditions.
The business combination (see press February
13, 2019) can only be completed if the required
approvals are obtained. There can be no assurance that the business
combination will be completed as proposed or at all.
V23 Resource Corp.
V23 Resource Corp. is a vanadium exploration company wholly
owned by CellCube, with two vanadium properties located in Nye
County, Nevada. CellCube's Bisoni McKay and Bisoni-Rio
properties represent a significant pure play vanadium projects in
North America, totaling 4,115
acres contiguous to the Gibellini deposit held by Prophecy
Development Corp.
About Regency Gold Corp.
Regency Gold Corp is a mineral exploration company based in
Canada. It is engaged in the
identification, acquisition, exploration and, development of
exploration and evaluation assets. Regency Gold Corp. recently
entered into a definitive agreement to acquire Vanadium North
Resources Inc. and its option on the Valley of Vanadium Project
located in the Northwest Territories,
Canada. (see press February
13,2019).
https://www.sedar.com/regencygoldcorp/
About CellCube Energy Storage Systems Inc.
CellCube is a Canadian public company listed on the Canadian
Securities Exchange (symbol CUBE), the OTCBB (symbol CECBF), and
the Frankfurt Exchange (Symbol 01X, WKN A2JMGP) focused on the
fast-growing energy storage industry which is driven by the large
increase in demand for renewable energy. CellCube supplies
vertically integrated energy storage systems to the power
industry. Enerox GmbH is the developer and manufacturer of
CellCube energy storage systems. CellCube's other subsidiaries are
EnerCube Switchgear Systems, Power Haz Energy Mobile Solutions Inc.
and Pure Vanadium Corp. The Company has also invested in an online
renewable energy financing platform, Braggawatt Energy Inc.
CellCube develops, manufactures, and markets energy storage
systems on the basis of vanadium redox flow technology and has over
136 project installations and a 10 year operational track record.
Its highly integrated energy storage system solutions features 99%
residual energy capacity after 11,000 cycles (cycling daily for 28
years) and larger scale containerized modules. Basic building
blocks consist of a CellCube unit family with 4, 6 and 8 hours
variation in energy capacity.
On Behalf of CellCube Energy Storage Systems Inc.,
Stefan Schauss, CEO
This news release contains certain "forward-looking
statements" within the meaning of Canadian securities legislation.
Forward-looking statements are statements that are not historical
facts which address events, results, outcomes or developments that
the Company expects to occur; they are generally, but not always,
identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "aims",
"potential", "goal", "objective", "prospective", and similar
expressions, or that events or conditions "will", "would", "may",
"can", "could" or "should" occur. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made and they involve a
number of risks and uncertainties. Certain material assumptions
regarding such forward-looking statements are discussed in this
news release and the Company's annual and quarterly management's
discussion and analysis filed at www.sedar.com. Except as
required by the securities disclosure laws and regulations
applicable to the Company, the Company undertakes no obligation to
update these forward-looking statements if management's beliefs,
estimates or opinions, or other factors, should change.
Neither the CSE nor its Regulation Services Provider (as that term
is defined in the policies of the CSE) accepts responsibility for
the adequacy or accuracy of this release.
Contact:
Glenda Kelly, Investor
Communications
+1-800-882-3213
Email: info@cellcubeenergystorage.com
www.cellcubeenergystorage.com
CellCube Energy Storage Systems Inc.
Ste 10 – 8331 River Road
Richmond, BC V6X 1Y1
393 University Ave. Suite 1810
Toronto, ON M5G 1E6
+1-800-882-3213
CSE CUBE 12g3-2(b)
82-2062
OTCQB CECBF Frankfurt 01X WKN A2JMGP
www.cellcubeenergystorage.com
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SOURCE CellCube Energy Storage Systems Inc.