Selling outTORONTO, Oct. 03, 2019 (GLOBE NEWSWIRE) -- CellCube Energy Storage Systems Inc. (“
CellCube”) (CSE:CUBE) (OTCQB CECBF) (Frankfurt 01X, WKN A2JMGP), and for and on behalf of its wholly-owned subsidiary Enerox GmbH (“
Enerox”) and Pedro Resources Ltd. (
PED-H.V) (“
Pedro”)(collectively, CellCube and Pedro are referred to as the “
Parties”), are pleased to announce that they have entered into a non-binding term sheet (the “
Term Sheet”) pursuant to which, among other things, Pedro intends to purchase all of the assets of EnerCube Switchgear Systems Inc. (“
EnerCube”) and PowerHaz Energy Mobile Solutions Inc. (“
PowerHaz”), subsidiaries of CellCube (the “
Proposed Transaction”).