NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, B.C, January 18, 2021 – Extreme Vehicle Battery Technologies Corp. (the “Company”) (CSE: ACDC) is pleased to announce its intention to undertake a non-brokered private placement (the “Offering”) for gross proceeds of up to $2,500,000 through the issuance of up to 12,500,000 units (each a “Unit”) at a price of $0.20 per Unit.
Each Unit will consist of one common share (a “Common Share”) of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will be exercisable into one Common Share at an exercise price of $0.50 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 $0.75 per Common Share for a period of ten consecutive trading days.
The Company intends to use the proceeds from the Offering towards product development, research and development and for general working capital.
On behalf of the Company,
Bryson Goodwin, Chief Executive Officer
Email: info@evbattery.tech
Phone: 604-352-2223
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements
of such Act.
About EV Battery Tech
Extreme Vehicle Battery Technologies Corp. 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 their technology to analyze and fully refurbish used batteries.
Further information about the Company is available on its website (https://www.evbattery.tech).
Forward Looking Statements