Enerdynamic Hybrid Technologies Corp. EDYYF

I GUESS THIS IS PART OF THE REASON THEY WANTED TO DO A RS

[frewil11]

Canada NewsWire

TORONTO, May 17, 2019

TORONTO, May 17, 2019 /CNW/ - EnerDynamic Hybrid Technologies Corp. ("EHT" or the "Company") (TSX-V: EHT) announces that it has undertaken negotiations with certain creditors of the Company to settle up to $2.5 million of certain existing debt in exchange for the issuance of up to 50,000,000 units of the Company ("Units") at a deemed price of $0.05 per Unit (the "Securities for Debt Transactions").

Each Unit consists of 1 common share in the capital of the Company (each a "Common Share") and 1 share purchase warrant of the Company (each a "Warrant"). Each Warrant entitles the holder thereof to acquire 1 Common Share at a price of $0.075 per Common Share at any time prior to 5:00 p.m. (Eastern Standard Time) on the date that is 36 months following the date of issuance, provided that in the event that, during the period following 4 months and a day after the date of issuance, the trading price of the Common Shares exceeds $0.15 per Common Share for 10 consecutive trading days, the Company may accelerate the expiry date of the Warrants to the date that is 30 calendar days after the date on which the Company issues notice to all holders of Warrants of the new accelerated expiry date.

The Company's decision to negotiate the Securities for Debt Transactions is intended to preserve its existing cash balances.

All securities issuable in connection with the Securities for Debt Transactions 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 Transactions remain subject to the approval of the TSX Venture Exchange.

The Company is also pleased to announce that it has completed a non-brokered private placement of $400,000.00 that was conditionally accepted by the TSX Venture Exchange on May 2, 2019.  The private placement, which closed on May 17, 2019, is comprised of 8,000,000 units at a price of $0.05 per unit.  Each unit consists of one common share and one common share purchase warrant, with each whole warrant being exercisable for one common share of the Company at a price of $0.07 per share for a term of 36 months (the "Offering").  No finder's fee was paid in connection with this placement.

Proceeds from the private placements will be used for general working capital purposes.

[JETS7]

This is actually a good thing that some one will take shares for debt

[fruiscante1]

How would doing a reverse split affect this in any way? Doesn’t make sense to me.

[4frankly]

am I correct in understanding Gamble sold almost $800,000 worth of shares and options allocated to him in lieu of payment?

[fruiscante1]

I do not believe that is correct at all. What leads you to believe Gamble sold anything? I don’t not see that anywhere. 

[4frankly]

in the notes about compensation. what is your understanding of his compensation for the past few years?

[OffMyRocker]

This post has been removed in accordance with Community Policy

[woundedknee]

This will soon have a billion shares. What a disaster and I was so confident. Now not so sure. If this can ever get going dilution will be a blip in the past, but the question is..will construction ever start? gl

[JETS7]

I agree a lot of shares but there is still value that a look at FO I have been trading this company for close to ten years  yes we need to sign a contract 

[Ginro22]

When construction starts (In the next 30 days LOLOL)  we will not need any more share offerings... AND when we get 100 million in orders for the grow houses after this conference that ends tomorrow we will all be retired at 1.00/share, AND  when Tiger gets us a 100 home contract we will be buying our kids houses This of course is a forward looking post and should be taken with a grain