Energy Plug Closes Final Tranche of Non-Brokered Private Placement

Core Points - Energy Plug Technologies Corp. has successfully closed the second and final tranche of its non-brokered private placement, issuing 2,643,000 units at a price of $0.07 per unit, resulting in gross proceeds of$185,010 [1] - The total gross proceeds raised through the private placement amount to $1,200,194 from the issuance of 17,145,624 units [1] - Each unit consists of one common share and one common share purchase warrant with an exercise price of$0.10 per share, valid for one year from the closing date [2] - The warrants may be accelerated if the company's shares trade at a closing price of at least $0.15 for twenty consecutive trading days [2] - The securities issued will be subject to a regulatory hold period of four months plus one day from the date of issue [3] - The net proceeds from the private placement will be utilized for research and development, product certification, repayment of trade payables, and general working capital [3] - A cash finder's fee of$14,000 was paid, and 200,000 finder's warrants were issued to Canaccord Genuity Corp. as part of the final tranche [4] - Energy Plug Technologies Corp. focuses on energy storage applications and aims to enhance energy management and grid resiliency through innovative battery technologies [5]