Energy Plug Closes the First Tranche of Non-Brokered Private Placement

Core Points - Energy Plug Technologies Corp. has successfully closed the first tranche of its non-brokered private placement, raising gross proceeds of $1,167,999 through the issuance of 7,786,660 units at a price of$0.15 per unit [1][2] - Each unit consists of one common share and one common share purchase warrant with an exercise price of $0.25 per share, valid for one year from the closing date [1] - The company plans to use the net proceeds from the private placement for general working capital purposes [2] Group 1 - The private placement was oversubscribed, indicating strong investor interest in the company [2] - A total of 529,066 Finders Warrants were issued to certain finders, with the same terms as the warrants issued with the units [3] - The securities issued will be subject to a regulatory hold period of four months plus one day from the date of issue [2] Group 2 - Energy Plug Technologies Corp. focuses on energy storage applications for residential, commercial, and utility sectors, aiming to enhance energy management and grid resiliency [4] - The company collaborates with leading technology firms and Indigenous communities to deliver innovative solutions in the energy sector [4]