Vancouver, British Columbia and Toronto, Ontario – December 15, 2022 – Hypercharge Networks Corp. (NEO: HC; FSE: PB7)(the “Company” or “Hypercharge”), a leading, smart electric vehicle (EV) charging solutions provider, is announcing that it has signed a deal with Tricon Residential Inc. (“Tricon”) to provide EV charging to two of its mixed-use commercial and residential properties.
Tricon owns and operates a growing portfolio of close to 39,000 single-family rental homes and multi-family rental apartments in the United States and Canada, with a primary focus on the U.S. Sun Belt. Tricon is committed to improving the resident experience using technology and incorporates this into all areas of its business.
The Company will provide nine Level 2 charging ports across two of Tricon’s iconic Canadian properties in the heart of downtown Toronto: The Selby, located just a short walk from Yorkville, and The Taylor, which sits right in the centre of the fashion and entertainment district.
“We worked closely with the team at Tricon to determine what charging solutions would best suit the needs of both visitors and residents. Level 2 EV chargers are a flexible option that can easily provide a full charge overnight for residents, or a significant top-up in just a few hours while the driver is shopping or visiting friends or family,” said Chris Koch, Head of Growth & Partnerships at Hypercharge. “Mixed-use residential buildings are quickly recognizing the potential benefits of having EV charging on site, particularly in urban environments where EVs are becoming increasingly popular.”
Natural Resources Canada estimates in a 2022 report that EV adoption is expected to reach 60% in Canada by 2030, with the U.S. expected to reach 52% adoption as well that same year, according to Bloomberg NEF.
Public Listing on the Frankfurt Stock Exchange
Hypercharge is also pleased to announce the listing of the Company’s common shares on the Frankfurt Stock Exchange (“FSE“) under the symbol ‘PB7‘. The Company’s common shares are now cross listed on the NEO Exchange and the FSE.
One of the largest international trading hubs for securities, the Frankfurt Stock Exchange (FSE) accounts for about 90% of all securities traded in Germany. International investors can transact across borders thanks to the FSE’s advanced electronic trading, settlement, and information systems and the Company’s listing enables investors across Europe direct access to the Canadian EV charging market.
“We are thrilled to be listing Hypercharge on the Frankfurt Stock Exchange and to have the opportunity to share our vision with a wider investor audience,” said David Bibby, CEO of Hypercharge. “We believe that electrification is the future of transportation across the whole world and today’s announcement will enable us to accelerate our efforts to make that future a reality.”
Spark Share Exchange Agreement – Final Payment
The Company also announces that it is issuing 154,725 common shares to the Vendors under the Spark Share Exchange Agreement (the “Agreement”) in payment of the final tranche of the purchase price owing under the Agreement, subject to Exchange approval.
Correction of Option Pricing
The Company corrects the price of 300,000 stock options announced in a news release dated December 6, 2022 from $0.56 to $0.58.
Hypercharge Networks Corp. (NEO: HC) is a leading provider of smart electric vehicle (EV) charging solutions that offers turnkey technology to multi-unit residential and commercial buildings, fleet operations, and other rapidly growing sectors. Driven by its mission to accelerate EV adoption and enable the shift towards a carbon neutral economy, Hypercharge is committed to providing seamless, simple charging solutions by offering industry-leading equipment and a robust network of public and private charging stations. Learn more: https://hypercharge.com/
On behalf of the Board,
Hypercharge Networks Corp.
David Bibby, President & CEO
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects” and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning (i) Hypercharge’s partnership with Tricon; (ii) the growth in EV adoption in Canada and the U.S.; (iii) the FSE listing enabling investors across Europe direct access to the Canadian EV charging market; (iv) electrification being the future of transportation across the whole world; and (v) this announcement enabling the Company to accelerate its efforts to make the electrification of transportation a reality. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the respective management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.