Hybrid Power Solutions closes Final Tranche of Life Offering Financing

Core Viewpoint - Hybrid Power Solutions Inc. has successfully closed the final tranche of its Life Offering financing, raising a total of CDN $1,067,925 through the issuance of 17,798,749 units at a price of C $0.06 per unit [2][5]. Financing Details - The final tranche raised gross proceeds of CDN $53,025 from the sale of 883,750 units [2]. - Each unit consists of one common share and one whole common share purchase warrant, with the warrant exercisable at CDN $0.10 per share for 24 months [3]. - The company may accelerate the expiry of the warrants if the share price exceeds CDN $0.20 for 20 consecutive trading days [3]. Regulatory Compliance - The offering is conducted under the Listed Issue Financing Exemption, allowing sales to purchasers in Canadian provinces (excluding Quebec) and offshore jurisdictions [4]. - The securities issued will be freely tradable in Canada and are not subject to a hold period [4]. Use of Proceeds - The net proceeds from the offering will be allocated to company operations, product and research development, sales growth initiatives, marketing, and general corporate purposes [5]. Finder's Fees - The company paid eligible finders a cash fee of $38,690.40 and issued 644,840 non-transferable finder's warrants, allowing the acquisition of shares at $0.10 per share for 24 months [6]. Company Overview - Hybrid Power Solutions Inc. is a Canadian clean energy innovator focused on developing portable power systems that eliminate the need for fossil fuels in off-grid applications [9].