Vancouver, BC – September 4, 2024 – Hypercharge Networks Corp. (TSXV: HC; OTC: HCNWF; FSE: PB7) (the “Company” or “Hypercharge”), a leading, smart electric vehicle (EV) charging solutions provider and network operator, is pleased to announce it will provide six Level 2 charging stations and one DC fast charger to Capilano Volkswagen in North Vancouver, British Columbia, with installation scheduled to be completed in September 2024.
Capilano Volkswagen, a family-owned business serving British Columbia’s North Shore for over 50 years, offers a wide range of new and pre-owned Volkswagen vehicles, along with comprehensive service and maintenance solutions tailored to meet the needs of its clients.
Hypercharge will be replacing the existing non-operational charging stations from a different EV charging network at Capilano Volkswagen, ensuring the dealership can continue to meet its needs with reliable solutions.
To support the dealership during this transition and to ensure the continued selling of electric vehicles without disruption, Hypercharge has provided access to charging stations at its Head Office in North Vancouver until the new installation is complete.
“We are incredibly grateful for the outstanding service provided by Hypercharge,” said Justin Izatt, Fixed Operations Manager at Capilano Volkswagen. “When we contacted Hypercharge to replace and expand our aging EV charging stations, they seemed to be the only company that cared about our needs and requirements. They arrived onsite to evaluate and discuss options with electricians on hand. The other companies only supplied sales pitches and pricing. While waiting for the arrival of our new equipment our charging stations failed, I reached out to Hypercharge, and they provided access to their charging stations to tide us over until the equipment arrived. Their proactive approach, attention to detail, and genuine commitment to excellence have truly set them apart. Working with them has been a pleasure.”
“As dealerships continue to increase sales of EVs, Hypercharge is proud to support Capilano Volkswagen with fast and reliable charging solutions,” said Chris Koch, Head of Growth & Partnerships at Hypercharge. “Our ability to quickly replace non-operational charging stations ensures that auto dealers can maintain EV sales without disruption, and we are committed to providing both interim support and long-term infrastructure to meet their needs effectively.”
Warrant Re-Pricing
The Company is also announcing its intention to re-price existing share purchase warrants (“Warrants”) to bring them into line with the Company’s current trading price.
2,380,947 Warrants were issued on May 17, 2023, at an exercise price of $1.35 and are proposed to be repriced to $0.12, subject to TSX Venture and warrant holder approval.
In addition, per TSX Venture policy, a forced exercise clause is intended to be added to the terms of each Warrant, whereby the exercise period of the Warrants will be reduced to 30 days if, for any ten consecutive trading days during the unexpired term of the Warrant (the “Premium Trading Days”), the closing price of the Listed Shares exceeds the exercise price of the Warrants by 25% or more.
For greater certainty, the reduced exercise period of 30 days will begin no more than 7 calendar days after the tenth Premium Trading Day.
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About Hypercharge
Hypercharge Networks Corp. (TSXV: HC; OTC: HCNWF; FSE: PB7) is a leading provider of smart electric vehicle (EV) charging solutions for 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 offering seamless, simple solutions including industry-leading hardware, innovative and integrated software, and comprehensive services, backed by a robust network of public and private charging stations. Learn more: https://hypercharge.com/.
On behalf of the Company,
Hypercharge Networks Corp.
David Bibby, President & CEO
Contacts
Investor Relations:
Chris Tyson | Executive Vice President | MZ Group
Media Contact:
Kyle Kingsnorth | Head of Marketing | Hypercharge
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. More particularly and without limitation, this news release contains forward-looking statements regarding the expected timing, delivery and installation of EV charging stations. Forward-looking statements are often identified by terms such as “may”, “could”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects” and similar expressions which are intended to identify forward-looking statements. 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 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.