MISSISSAUGA, Ontario, June 08, 2017 (GLOBE NEWSWIRE) -- Hydrogenics Corporation (NASDAQ:HYGS)
(TSX:HYG) (the “Company” or “Hydrogenics”), a leading developer and manufacturer of hydrogen generation and hydrogen-based fuel
cell modules, today announced that, further to its press release of April 28, 2017 relating to the proposed issuance of 2,682,742
common shares of Hydrogenics to Fuzhou Bonded Zone Hejili Equity Investment Limited Partnership (“Hejili”) on a
private placement basis for gross proceeds to Hydrogenics of US$21,000,000 (the “Private Placement”), the Company
has exercised its option under the subscription agreement with Hejili to extend the outside date to close the Private Placement by
15 days to June 27, 2017. The extension provides additional time to obtain all applicable stock exchange approvals and Chinese
regulatory approvals.
The Private Placement is subject to certain closing conditions, including the receipt of final stock exchange
approvals and all applicable Chinese regulatory approvals. The outside date, after which either the Company or Hejili can
terminate the subscription agreement if closing has not occurred by such date, is now June 27, 2017, subject to a further 15 day
extension at the option of the Company. There can be no assurance that the Chinese regulatory approvals will be obtained
before the outside date, as extended, or at all.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The securities will not be and have not been registered under the United States Securities Act of 1933,
as amended (the “U.S. Securities Act”), and may not be offered or sold into the United States or to, or for the account or benefit
of U.S. persons (as defined in Regulation S under the U.S. Securities Act), absent registration or an exemption from registration
requirements. The securities have not been and will not be qualified for sale by way of a prospectus under
Canadian securities laws.
About Hydrogenics
Hydrogenics Corporation (www.hydrogenics.com) is a world leader in engineering and building the technologies required to
enable the acceleration of a global power shift. Headquartered in Mississauga, Ontario, Hydrogenics provides hydrogen generation,
energy storage and hydrogen power modules to its customers and partners around the world. Hydrogenics has manufacturing sites in
Germany, Belgium and Canada and service centers in Russia, Europe, the US and Canada.
About Hejili
Headquartered in Fuzhou, Fujian province, China, Fuzhou Bonded Zone Hejili Equity Investment Limited Partnership is a
limited partnership founded in 2016. Hejili’s partners include Fujian Snowman Co., Ltd. (SZSE:002639), Ningbo Meishan Bonded
Zone Mingde Investment Partnership, Ningbo Meishan Bonded Zone Mingde Investment Partnership, and Snow-Hydro Industrial Investment
Management Ltd.
Forward-looking Statements
This release contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995, and under applicable Canadian securities law. These statements are based on
management’s current expectations and actual results may differ from these forward-looking statements due to numerous factors.
Readers should not place undue reliance on Hydrogenics’ forward-looking statements. Investors are encouraged to review the section
captioned “Risk Factors” in Hydrogenics’ regulatory filings with the Canadian securities regulatory authorities and the US
Securities and Exchange Commission for a more complete discussion of factors that could affect Hydrogenics’ future performance.
Furthermore, the forward-looking statements contained herein are made as of the date of this release, and Hydrogenics undertakes no
obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the
date of this release, unless otherwise required by law. The forward-looking statements contained in this release are expressly
qualified by this.
Investor Contacts: Bob Motz, Chief Financial Officer (905) 361-3660 investors@hydrogenics.com Chris Witty Hydrogenics Investor Relations (646) 438-9385 cwitty@darrowir.com
