EEStor Corporation Provides Corporate Update
January 23 2020 - 6:00AM
EEStor Corporation (TSX.V: ESU) (“
EEStor” or the
“
Corporation”) announces that following
termination of negotiations with FWG Ltd., its board of directors
has initiated discussions to acquire an arm’s-length party involved
in the development of sustainable energy technology. The board is
also reviewing other potential opportunities for strategic
technology acquisitions to augment the Corporation’s existing
portfolio.
The Corporation continues to focus on merger and
acquisition opportunities as its most effective path forward.
Ian Clifford, Chief Executive Officer of the
Corporation, noted: “With our 16 years of experience in the public
markets and our broad reach to capital and highly skilled industry
specialists, the acquisition model is proving to be very compelling
to a number of technology companies ready to integrate and make the
move. We are excited by this path and the opportunities it
represents.”
The Corporation anticipates providing further
information regarding proposed transactions as negotiations
progress.
Readers are cautioned that the Corporation has
not yet reached final terms for any transaction, and there can be
no assurance that a transaction will proceed.
About EEStor
EEStor is a developer of high energy density
solid-state capacitor technology utilizing patented Composition
Modified Barium Titanate (CMBT) material. EEStor is committed to
providing commercially viable and sustainable energy 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:
Mr. Ian CliffordChief
Executive Officer416-535-8395 ext. 3ian.clifford@eestorcorp.com
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