Vancouver, B.C. April 6, 2021 – Extreme Vehicle Battery Technologies Corp. (“EV Battery Tech” or the “Company”) (CSE: ACDC) is pleased to announce, further to its news release dated February 18, 2021, that it has closed the first tranche (the “First Tranche”) of its non-brokered private placement by issuing an aggregate of 6,296,000 units (each a “Unit”) at a price of $0.50 per Unit for gross proceeds of $3,148,000. The private placement is part of a larger offering of up to 10,000,000 Units (the “Offering”).
Each Unit consists of one (1) common share (a “Common Share”) of the Company and one (1) common share purchase warrant (a “Warrant”). Each Warrant is exercisable into one (1) Common Share at an exercise price of $1.00 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 $1.50 for a period of three consecutive trading days. All securities issued in connection with the First Tranche are subject to a four-month-and-one-day hold period under applicable securities laws.
The Company intends to use the proceeds from the First Tranche towards product development, research and development, marketing and for general working capital.
On behalf of the Company,
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.
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 [email protected]
For product or sales inquiries, please contact (236) 266-5174 or email [email protected]
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Further information about the Company is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and on its website.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
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 the Offering and the expected use of proceeds from the First Tranche. 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.