TORONTO, July 31, 2018 /CNW/ - CellCube Energy Storage Systems
Inc. ('CellCube' or the 'Company') (CSE: CUBE) (OTCQB: CECBF) (Frankfurt: 01X) is
pleased to announce a CDN $15,000,000 equity financing to be conducted through a non-binding
drawdown facility over a term of twenty-four months (the 'Facility') provided by Alumina Partners LLC, a New York-based private investment partnership that specializes in investing in emerging growth companies,
through its wholly-owned subsidiary Alumina Partners (Ontario) Ltd. (collectively, 'Alumina
Partners').
The Facility provides for equity private placement offerings by CellCube to Alumina Partners in drawdown amounts of up to CDN
$1,000,000 per week, at the sole discretion of CellCube. Alumina Partners has committed to
purchase up to CDN$15,000,000 of units of the Company. Each unit consists of one common share
(a 'Common Share') and one half of one common share purchase warrant (each whole warrant, a 'Warrant' ), and each
unit being purchased at a discount ranging from 15% to 25% of the then current market price of the Common Shares. The
exercise price of the Warrants will be at a 25% premium over the then current market price of the Common Shares, subject to an
acceleration clause should the 10-day volume weighted average price of the Common Shares be equal to or greater than 180% of the
Warrant exercise price prior to the expiry date of the applicable Warrants.
The purpose of the Facility is to provide CellCube with financial flexibility and unilateral control over the financing of its
working capital requirements while managing and limiting dilution. This Facility will provide efficient access to capital as
deemed necessary by the Board of Directors of the Company. The Facility is non-exclusive in terms of equity capital raising
by CellCube.
"We are very pleased that Alumina Partners has selected CellCube to represent its first investment in the fast growing energy
storage sector," said Mike Neylan, CEO of CellCube. "The grid connected storage market is expected
to grow 44% annually with the market size reaching US $18 billion by 2024, according to Navigant
Research. The energy storage industry is in a similar place to where the solar industry was in 2005-2006. It is on the verge
of a tipping point to mass deployment."
"CellCube has received interest by institutional investors in both North America and
Europe and we are delighted to have entered into this financing arrangement with Alumina
Partners who have been very active investors in high-growth Canadian companies," added Mr. Neylan.
"The emergence of the microgrid as a mandatory adjunct to all the aspirational goals of the Paris accord, and the resulting urgent need for non-volatile, scalable energy storage systems, represents
the latest wave in renewable energy and carbon reduction enterprise investing," said Adi Nahmani, Managing Member of Alumina
Partners, LLC. "We are delighted to support CellCube in their continued market leadership as they deploy tailored, intelligent
storage solutions across the globe."
About CellCube:
CellCube's acquisition of the assets of Gildemeister Energy Storage GmbH has transformed CellCube and its wholly-owned
subsidiary, Enerox GmbH, into a leading integrated resource and energy storage company. Together with the company's recent
acquisition of Jet Power & Control Systems Ltd. (now renamed EnerCube Switchgear Systems Inc.) and Hillcroft Consulting Ltd.
(renamed PowerHaz Energy Mobile Solutions Inc.) and its investment in Braggawatt Energy Inc., CellCube is gearing up to deliver
fully vertically integrated energy storage solutions to utilities and independent power producers for both stand-alone energy
storage projects as well as projects where energy storage enhances the value proposition from renewable energy generation.
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation.
Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments
that the Company expects to occur; they are generally, but not always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions,
or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on
the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of
risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news
release and the Company's annual and quarterly management's discussion and analysis filed at http://www.sedar.com. Except as required by the securities disclosure laws and
regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if
management's beliefs, estimates or opinions, or other factors, should change.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts
responsibility for the adequacy or accuracy of this release.
CellCube Energy Storage Systems Inc.
Ste 10 - 8331 River Road
Richmond, BC V6X 1Y1
65 Queen St West, Suite 520
Toronto, Ontario M5H2M5
CSE CUBE 12g3-2(b): 82-2062 OTCQB CECBF Frankfurt: 01X;
SOURCE CellCube Energy Storage Systems Inc.
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