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ORIGINAL: Hypercharge to Install EV Charging at Capilano Volkswagen in North Vancouver, BC
2024-09-04 07:31 ET - News Release
Vancouver, British Columbia--(Newsfile Corp. - September 4, 2024) - Hypercharge Networks Corp. (TSXV: HC) (OTCQB: HCNWF) (FSE: PB7) (the "Company" or "Hypercharge"), a leading, smart electric vehicle (EV) charging solutions provider and network operator, is pleased to announce it will provide six Level 2 charging stations and one DC fast charger to Capilano Volkswagen in North Vancouver, British Columbia, with installation scheduled to be completed in September 2024.
Capilano Volkswagen, a family-owned business serving British Columbia's North Shore for over 50 years, offers a wide range of new and pre-owned Volkswagen vehicles, along with comprehensive service and maintenance solutions tailored to meet the needs of its clients.
Hypercharge will be replacing the existing non-operational charging stations from a different EV charging network at Capilano Volkswagen, ensuring the dealership can continue to meet its needs with reliable solutions. To support the dealership during this transition and to ensure the continued selling of electric vehicles without disruption, Hypercharge has provided access to charging stations at its Head Office in North Vancouver until the new installation is complete.
"We are incredibly grateful for the outstanding service provided by Hypercharge," said Justin Izatt, Fixed Operations Manager at Capilano Volkswagen. "When we contacted Hypercharge to replace and expand our aging EV charging stations, they seemed to be the only company that cared about our needs and requirements. They arrived onsite to evaluate and discuss options with electricians on hand. The other companies only supplied sales pitches and pricing. While waiting for the arrival of our new equipment our charging stations failed, I reached out to Hypercharge, and they provided access to their charging stations to tide us over until the equipment arrived. Their proactive approach, attention to detail, and genuine commitment to excellence have truly set them apart. Working with them has been a pleasure."
"As dealerships continue to increase sales of EVs, Hypercharge is proud to support Capilano Volkswagen with fast and reliable charging solutions," said Chris Koch, Head of Growth & Partnerships at Hypercharge. "Our ability to quickly replace non-operational charging stations ensures that auto dealers can maintain EV sales without disruption, and we are committed to providing both interim support and long-term infrastructure to meet their needs effectively."
Warrant Re-Pricing
The Company is also announcing its intention to re-price existing share purchase warrants ("Warrants") to bring them into line with the Company's current trading price. 2,380,947 Warrants were issued on May 17, 2023, at an exercise price of $1.35 and are proposed to be repriced to $0.12, subject to TSX Venture and warrant holder approval.
In addition, per TSX Venture policy, a forced exercise clause is intended to be added to the terms of each Warrant, whereby the exercise period of the Warrants will be reduced to 30 days if, for any ten consecutive trading days during the unexpired term of the Warrant (the "Premium Trading Days"), the closing price of the Listed Shares exceeds the exercise price of the Warrants by 25% or more. For greater certainty, the reduced exercise period of 30 days will begin no more than 7 calendar days after the tenth Premium Trading Day.
About Hypercharge
Hypercharge Networks Corp. (TSXV: HC) (OTCQB: HCNWF) (FSE: PB7) is a leading provider of smart electric vehicle (EV) charging solutions for residential and commercial buildings, fleet operations, and other rapidly growing sectors. Driven by its mission to accelerate EV adoption and enable the shift towards a carbon neutral economy, Hypercharge is committed to offering seamless, simple solutions including industry-leading hardware, innovative and integrated software, and comprehensive services, backed by a robust network of public and private charging stations. Learn more: https://hypercharge.com/.