Vancouver, British Columbia–(Newsfile Corp. – September 28, 2022) – Hypercharge Networks Corp. (the “Company” or “Hypercharge“) is pleased to announce that it has satisfied the escrow release conditions (the “Release Conditions“) for the release of escrowed funds from the Company’s previously-announced C$6.0 million brokered private placement offering of subscription receipts (the “Subscription Receipts”) at an issue price of C$0.60 per Subscription Receipt, which closed on June 1, 2022 (the “Offering“), including, among other things, receipt for the Company’s final prospectus dated September 23, 2022 (the “Prospectus“) qualifying the common shares underlying the Subscription Receipts (the “Underlying Shares“). Haywood Securities Inc. (“Haywood“) acted as the lead agent and sole bookrunner for the Offering, together with a syndicate of agents, including Clarus Securities Inc., Eight Capital and Research Capital Corporation (together with Haywood, the “Agents“).
Hypercharge Networks is an electric vehicle (EV) supply equipment company that provides turnkey EV charging solutions to serve the rapidly growing market. As a clean-technology innovator, we are on a mission to accelerate EV adoption and the shift towards a carbon neutral economy by providing seamless, simple charging experiences through industry-leading equipment and a robust network of public and private charging stations.
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 the Company’s intention to list its shares on the Exchange, the expected use of proceeds from the Offering and the Company’s growth strategy and vision. 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.