EV Battery Tech Announces Private Placementhttps://ca.finance.yahoo.com/news/ev-battery-tech-announces-private-130000098.html
Vancouver, BC, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Extreme Vehicle Battery Technologies Corp. (the “Company” or “EV Battery Tech”) (CSE: ACDC) is pleased to announce its intention to undertake a non-brokered private placement (the “Offering”) for gross proceeds of up to $750,000.
The Company will issue up to an aggregate of 37,750,000 units (each a “Unit”) at a price of $0.20 per Unit. Each Unit will consist of one common share (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will be exercisable into one Common Share at an exercise price of $0.25 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 $0.50 per Common Share for a period of ten consecutive trading days.
The Company intends to use proceeds from the Offering towards the completion of the acquisition announced December 8th 2021 and for general working capital.
On behalf of the Company,
Bryson Goodwin,
Chief Executive Officer