(Image via EnerDynamic Hybrid Technologies Corp.)
EnerDynamic Hybrid Technologies Corp. (TSX-V: EHT. OTC: EDYYF, Forum) stated this week that it had completed a non-brokered private placement and raised gross proceeds of $1 million from the sale of 20 million shares at $0.05 per share. The net proceeds from the Offering will be used to fund the Company’s product commercialization, sales and marketing and for general working capital purposes. Both EHT’s President and CEO John Gamble, along with Director David Woolford participated in the placement.
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The firm recently
submitted its application to Health Canada for the license of the Company’s new Micro-Grow Cannabis facility at their Niagara Falls location. This facility aims to both showcase EHT’s technology for building Micro-Grow units for customers to come and view the merits and characteristics, while also allowing the Company to grow up to 600 kg of medical grade cannabis for sale to customers. EHT’s leadership stated that the licence should take from between 90 to 120 days to receive.
FULL DISCLOSURE: EnerDynamic Hybrid Technologies Corp. is a client of Stockhouse Publishing.