Vancouver, British Columbia – Hypercharge Networks Corp. (the “Company” or “Hypercharge“) is pleased to announce that it has closed a private placement of subscription receipts of Hypercharge (the “Subscription Receipts“), consisting of the issuance of an aggregate of 10,000,000 Subscriptions Receipts at a price of $0.60 per Subscription Receipt (the “Issue Price“) for aggregate gross proceeds to Hypercharge of $6,000,000 (the “Offering“), including 1,666,667 Subscription Receipts issued at the Issue Price for gross proceeds of $1,000,000 in connection with the full exercise of the over-allotment option granted to the Agents (as defined below) under the Offering. Haywood Securities Inc. acted as the lead agent and sole bookrunner of the Offering, with Clarus Securities Inc., Eight Capital and Research Capital Corporation also acting as agents (collectively, the “Agents“).
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States or any other jurisdiction, nor shall there be any sale of the securities in any state 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 any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Hypercharge
Hypercharge Networks is an electric vehicle (EV) supply equipment company that provides turnkey EV charging solutions to serve the rapidly growing market. We’re on a mission to accelerate EV adoption 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
Media Contact:
Kyle Green | Senior Marketing Manager
604-992-1797
Forward-Looking Statements
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 file a prospectus to qualify the Hypercharge Shares and list same on the NEO (including, without limitation, the anticipated timing of the completion of the Escrow Release Conditions, the use of proceeds from the Offering, and the satisfaction and/or waiver of the Escrow Release Conditions). 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.