Vancouver, B.C, February 18, 2021 – Extreme Vehicle Battery Technologies Corp. (the “Company”) (CSE: ACDC) is pleased to announce its intention to undertake a non-brokered private placement (the “Offering”) for gross proceeds of up to $5,000,000 through the issuance of up to 10,000,000 units (each a “Unit”) at a price of $0.50 per Unit.
Each Unit will consist of one common share (a “Common Share”) of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will be exercisable into one 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 per Common Share for a period of three consecutive trading days.
The Company intends to use the proceeds from the Offering towards product development, research and development, marketing, and for general working capital.
On behalf of the Company,
Bryson Goodwin, Chief Executive Officer
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.
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.
Further information about the Company is available on its website (https://www.evbattery.tech).
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 and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward looking statements in this news release include, but are not limited to, statements relating to: the Offering and the anticipated use of proceeds therefrom. 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.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.