NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
CALGARY, Alberta, Jan. 02, 2019 (GLOBE NEWSWIRE) — Eguana Technologies Inc. (“Eguana” or the “Company“) (TSXV: EGT) (OTCQB:EGTYF) is pleased to announce that on December 31, 2018 it closed its previously announced private placement of Class E limited partnership units (the “LP Units”) of its subsidiary, EGT Markets Limited Partnership (the “Partnership”) at a price of $1,000 per LP Unit, for gross proceeds of $715,000 (the “Offering”). The net proceeds of the Offering shall be used for general working capital to expedite the Company’s growth in global markets.
The Partnership issued 715 LP Units. Eguana has the right to exchange each of the LP Units for common shares in the capital of the Company (each a “Common Share” and collectively, the “Common Shares”), at a price of $0.20 per Common Share, at any time prior to the close of business on March 29, 2019.
The LP Units will be subject to an indefinite hold period and all Common Shares issued in exchange for LP Units will be subject to a hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The Offering remains subject to final approval of the TSX Venture Exchange.
No finder’s fees and warrants are to be paid or issued in connection with the Offering.
About Eguana Technologies Inc.
Based in Calgary, Alberta Canada, Eguana Technologies Inc. (EGT: TSX.V) (OTCQB: EGTYF) designs and manufactures high performance residential and commercial energy storage systems. Eguana has two decades of experience delivering grid edge power electronics for fuel cell, photovoltaic and battery applications, and delivers proven, durable, high quality solutions from its high capacity manufacturing facilities in Europe and North America.
With thousands of its proprietary energy storage inverters deployed in the European and North American markets, Eguana is one of the leading suppliers of power controls for solar self-consumption, grid services and demand charge applications at the grid edge. To learn more, visit www.eguanatech.com or follow us on Twitter @EguanaTech
Eguana Technologies Inc.
Forward Looking Information
The reader is advised that some of the information herein may constitute forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning assigned by National Instrument 51-102 – Continuous Disclosure Obligations and other relevant securities legislation. In particular, we include, among other things: statements pertaining to the use of proceeds and the Company’s ability to obtain necessary approvals from the TSX Venture Exchange.
Forward-looking statements are not a guarantee of future performance and involves a number of risks and uncertainties. Many factors could cause the Company’s actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. Readers are also directed to the “Risk Factors” section of the Company’s most recent audited financial statements which may be found on its website or at sedar.com The Company does not undertake any obligation to release publicly any revisions to forward-looking statements contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.