CRYBF - News: EV Battery Tech Completes $0.50 Private Placement and Provides Updates on Partnerships and Product Developments
C.ACDC | 2 hours ago
VANCOUVER, British Columbia, June 10, 2021 (GLOBE NEWSWIRE) -- Extreme Vehicle Battery Technologies Corp. (the “ Company ” or “ EV Battery Tech ”) (CSE: ACDC ) is pleased to announce the completion of its previously announced $0.50 private placement and provide updates on its partnerships and product developments.
Private Placement
Further to the news release dated April 6, 2021, the Company has completed the second and final tranche (the “ Final Tranche ”) of its non-brokered private placement of units (each, a “ Unit ”) for total gross proceeds of $5,000,000. Through the Final Tranche, the Company issued a total of 3,704,000 units (each a “ Unit ”) of the Company at a price of $0.50 per Unit. Each Unit consists of one common share (a “ Common Share ”), and one common share purchase warrant (a “ Warrant ”), each exercisable into one Common Share at an exercise price of $1.00 for a period of three years from the issuance date, subject to acceleration, at the Company’s discretion, in the event that the Common Shares trade at a price on the CSE of greater than $1.50 per Common Share for a period of three consecutive trading days. All securities issued in connection with the Final Trance are subject to a four-month-and-one-day hold period under applicable securities laws.
“ The closing of our fully subscribed private placement at $0.50 per unit is evidence that our business plan resonates with investors ,” commented EV Battery Tech CEO, Bryson Goodwin.
“ Completing a private placement of this size validates our team’s hard work to date as well as the Company’s plans for the future. It is a reflection of where our industry is today and our positioning within it as one of the superior technology companies that focuses on EV and ESS infrastructures ,” continued Mr. Goodwin.
The Company intends to use the proceeds from the Final Tranche towards product development, research and development, marketing, and general working capital.
Partnerships
Daymak
The Company recently formed a partnership with Daymak Inc. (“ Daymak ”), whose latest Avvenire campaign has now exceeded $420 million dollars in pre-orders since launching on March 23, 2021. All of Daymak’s products are to include custom IoniX Pro batteries, which is 30% of the cost of their electric vehicles.
EV Infrastructure
The Company has been expanding its EV infrastructure footprint, with recent partnerships with Fairwater Properties (" Fairwater ") and Ethos Asset Management (“ Ethos ”). Through these partnerships, EV Battery Tech and IoniX Pro have the exclusive right to provide EV Smart Chargers and ESS solutions to Fairwater and Ethos, which together manage assets covering everything from high rise developments, parkades and hotels to bowling alleys.
Product Developments
IoniX Pro RV Freedom
The IoniX Pro RV Freedom battery has commenced the certification stage of development. This is a significant milestone and will allow direct shipping within North America to awaiting customers. The first set of RV Freedom batteries have arrived in Canada for comprehensive testing.
Due to significant demand for the RV Freedom battery, the Company has developed a custom-made mold using 3D printing, for a sleek, unique and functional design for the mass production of its RV Freedom. The Company expects to unveil the design in the coming weeks.
IoniX Pro Home SmartWall
The Company is pleased to report that it is on track to receive the first IoniX Pro Home SmartWall by this summer. This first shipment has been allocated to its distribution network and the Company expects to launch a sales campaign for the product once it has arrived. Further updates related to the demonstration and showcase of the Home SmartWall product will be announced at a later date.
Ionix Pro TITAN
The Company continues to work with prospective clients interested in grid level ESS applications as well as “Peak Shaving” equipment in Canada and the United States. The complexity and expense of these systems creates long lead times, making it difficult to estimate sales, but the Company continues to work towards delivering these customized solutions to market.
IoniX Pro EV Smart Charger
The Company’s revolutionary EV Smart Charger has seen tremendous demand since launching only a couple of months ago. The Company has already signed exclusive agreements with several large infrastructure companies to install units of the smart charger and is in talks with several more. Thanks to the combination of rapid charging technology, ESS capacity and its patented Battery Management System (BMS), the Company believes its IoniX Pro EV Smart Charger is one of the most attractive EV infrastructure solutions on the market.
With the growing demand for EV infrastructure, the EV Smart Charger is quickly becoming focal point in the IoniX Pro battery portfolio.
Bryson Goodwin,
Chief Executive Officer
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction 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 the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
About EV Battery Tech
Extreme Vehicle Battery Technologies Corp. is a blockchain and battery technology company with revolutionary, patented Battery Management Systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing Electric Vehicle (EV) and Energy Storage Solution (ESS) markets. The Company has committed to assisting global recycling solutions by offering recycling initiatives using their technology to analyze and fully refurbish used batteries.
Contact Numbers and Emails
For further information about the Company, please visit https://www.evbattery.tech .
For further information about the Company’s Products please visit https://www.ionixpro.com .
For Investor Inquiries, please contact (236) 259-0279 or email info@evbattery.tech .
For Product or Sales Inquiries, please contact (236) 266-5174 or email sales@ionixpro.com .
All communications are managed by AlphaOne Media Group Inc.
About AlphaOne Media Group Inc.
AlphaOne Media Group Inc. (“AlphaOne”) is a full-service Investor Relations and Marketing company that focusses on both private and public companies. AlphaOne offers communication services such as investor relations as well as marketing services over several mediums to provide effective, thorough market awareness programs that are specifically designed to maximize exposure and bring value to shareholders. AlphaOne’s dedicated and experienced team strives to promote its clients to the public and educate potential investors on their developments.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Forward Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, but are not limited to, statements relating to: the Company’s arrangements with Fairwater and Ethos, the use of proceeds from the Final Tranche, the Company’s partnership with Daymak and the provision of units to Daymak; and rollout, launch and sales of the Company’s products. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Further risk factors are discussed in the Company’s Management Discussion and Analysis for year ended January 31, 2021.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Primary Logo
GlobeNewswire
June 10, 2021 - 4:00 AM PDT
News 
Market Data 
Discover 
AI
