EV BATTERY TECH ANNOUNCES PRIVATE PLACEMENT
Extreme Vehicle Battery Technologies Corp. intends to undertake a non-brokered private placement for gross proceeds of up to $2.5-million through the issuance of up to 12.5 million units at a price of 20 cents per unit.
Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will be exercisable into one common share at an exercise price of 50 cents for a period of three years from the issuance date, subject to acceleration, at the company's discretion, in the event that the common shares trade at a price on the Canadian Securities Exchange of greater than 75 cents per common share for a period of 10 consecutive trading days.
The company intends to use the proceeds from the offering toward product development, research and development, and for general working capital.
About Extreme Vehicle Battery Technologies Corp.
Extreme Vehicle Battery Technologies is a blockchain and battery technology company with revolutionary, patented battery management systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing electric vehicle (EV) and energy storage solution (ESS) markets. The company has committed to assisting global recycling solutions by offering recycling initiatives using its technology to analyze and fully refurbish used batteries.
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