Vancouver, British Columbia–(Newsfile Corp. – April 16, 2024) – Hybrid Power Solutions Inc. (CSE: HPSS) (OTCQB: HPSIF) (FSE: E092) (“hybrid” or “company“) is pleased to announce non-brokered prospectus financing of units (“).unit“) consists of up to 5,000,000 units with total revenue of up to $1,500,000 (“RecruitmentEach unit consists of one common share of the Company (“common stock“) and one common stock purchase warrant of the Company (“warrantEach unit warrant entitles the holder to acquire one common share (“warrant share“) may be accelerated for a period of 24 months from the closing of the offering, with an exercise price of $0.32 per Warrant Share.
The Acceleration Clause of the Stock Acquisition Rights is based on the volume-weighted average price of the common stock on the Canadian Securities Exchange (“CSE) (or other securities exchange on which a significant portion of trading volume occurs) exceeds $0.40 for any five consecutive business day period from the closing date of the offering to the expiration of the warrants. At its discretion, the expiration date of the stock acquisition rights may be accelerated by giving written notice to the stock acquisition rights holders through a news release if the Company provides such early notice. Expires on the 30th.th The day after the news release was distributed.
This offering will be subscribed to by “accredited investors” pursuant to applicable securities laws, and the Company intends to enter into a definitive subscription agreement with each investor for the purchase of new shares.
We may pay finder fees to eligible finders in accordance with applicable securities laws and CSE policies. The Company intends to use the proceeds from the offering for general working capital and corporate purposes.
Units will be certified pursuant to the Issuance Prospectus Supplement (“”).Supplement to the prospectus“) Prior to closing, the transaction will be filed with the securities commissions of British Columbia, Alberta, Saskatchewan, Ontario, Manitoba and Newfoundland and Labrador pursuant to National Instrument 44-101. Distribution of short form prospectuses and National Instrument 44-102 distribution of shelves. This offering is being made only by means of a prospectus supplement and accompanying base prospectus dated March 14, 2024 (the “”).shelf prospectusComplete details of the offering are contained in the prospectus supplement, which, if available, will be available along with the offering prospectus on the Company's SEDAR+ profile at www.sedarplus.ca.
This offering is expected to close on or about April 30, 2024 and is subject to certain conditions, including receipt of all necessary approvals and listing, including satisfaction of the applicable requirements of the CSE. Not limited.
The securities referenced in this news release have not been and will not be registered under the United States. Securities Act of 1933as modified ('US securities laws”), or pursuant to applicable state securities laws, and absent such registration or applicable exemption, the United States or a “U.S. Person” (as that term is defined in Regulation S under the U.S. Securities Act ) may not be provided or sold to. This news release does not constitute an offer to sell or the solicitation of an offer to buy any such securities in any jurisdiction.
on behalf of our company
Francois Byrne
CEO and Director
investments@hybridps.ca
1 (866) 549-2743
www.investhps.com
About Hybrid Power Solutions Co., Ltd.
Hybrid Power Solutions Inc. is a Canadian clean energy company listed on the Canadian Securities Exchange under the symbol “HPSS.” Hybrid specializes in developing sustainable energy solutions, delivering products that redefine how the industry accesses power and energy storage. HPS continues to lead the way in providing scalable and cost-effective power solutions with a focus on innovation and environmental responsibility.
Forward-looking statements
Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the terms of the offering and units, the terms of the unit warrant acceleration provisions, the filing of a prospectus supplement, the use of proceeds, the payment of finder's fees and receipts. not. Obtain all necessary regulatory and CSE approvals. Forward-looking information generally includes forward-looking terminology such as “will,” “will,” “intends,” “anticipates” or similar words, phrases or statements. This can be determined by using variations. Results “happen.” Forward-looking statements are based on management's opinions and estimates as of the date such statements are made and necessarily differ from what is known and believed to be reasonable by our management. It is based on many assumptions and estimates that may be unknown. risks, uncertainties and other factors that could cause actual results to differ materially, including the receipt of all necessary regulatory approvals; Although the Company's management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, There may be other factors that cause the results to differ from those anticipated, estimated or intended. This includes, but is not limited to, the factors discussed under the heading “Risk Factors” in the Prospectus, Prospectus Supplement, and other filings we make with the Canadian securities authorities. yeah. A copy is posted under our profile on SEDAR+. There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements or forward-looking information. The Company will not update any forward-looking statements or forward-looking information incorporated herein by reference, except as required by applicable securities laws..
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Not intended for distribution to U.S. newswire services or dissemination in the United States.
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