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Vancouver, BC, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Extreme Vehicle Battery Technologies Corp. (the “Company” or “EV Battery Tech”) (CSE: ACDC) is pleased to announce its intention to undertake a non-brokered private placement (the “Offering”) for gross proceeds of up to $750,000.
The Company will issue up to an aggregate of 37,750,000 units (each a “Unit”) at a price of $0.20 per Unit. Each Unit will consist of one common share (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will be exercisable into one Common Share at an exercise price of $0.25 for a period of three years from the issuance date, subject to acceleration, at the Company’s discretion, in the event that the Common Shares trade at a price on the Canadian Securities Exchange of greater than $0.50 per Common Share for a period of ten consecutive trading days.
The Company intends to use proceeds from the Offering towards the completion of the acquisition announced December 8th 2021 and for general working capital.
On behalf of the Company,
Bryson Goodwin,
Chief Executive Officer
About EV Battery Tech
Extreme Vehicle Battery Technologies Corp. is a blockchain and battery technology company with revolutionary, patented Battery Management Systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing Electric Vehicle (EV) and Energy Storage Solution (ESS) markets. The company has committed to assisting global recycling solutions by offering recycling initiatives using their technology to analyze and fully refurbish used batteries.
Learn more at evbattery.tech
Contact Numbers and Emails
For further information about the Company, please visit https://www.evbattery.tech.
For further information about the Company’s Products please visit https://www.ionixpro.com.
For Investor Inquiries, please contact (236) 259-0279 or email info@evbattery.tech.
For Product or Sales Inquiries, please contact (236) 266-5174 or email sales@ionixpro.com.
All communications are managed by AlphaOne Media Group Inc.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties, including the specific factors disclosed here and elsewhere in EV Battery Tech’s periodic filings with Canadian securities regulators. When used in this news release, words such as “will”, “hope”, “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “believe”, “should”, “projected”, “proposed”, “rendering” and similar expressions, are forward-looking statements.
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward-looking statements in this news release include, but are not limited to, statements respecting: (i) the Agreement and completion thereof; (ii) the Application and development thereof; (iii) the anticipated features and functionality of the Application and of Smart Command; (iv) integration of the Application and Smart Command into the Company’s products and sale of such platforms; and (v) market trends in the EV industry. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
