NIAGARA FALLS, ON / ACCESSWIRE / April 29, 2021 / EnerDynamic Hybrid Technologies Corp. ('EHT' or the 'Company') (TSXV:EHT) announces that it has completed the share consolidation announced April 21, 2021 on the basis of twenty (20) old shares for one (1) new share (the 'Share Consolidation'). The Share Consolidation received 72.42% shareholder approval at the Company's Annual General and Special Meeting of Shareholders held on January 19, 2021. As a result of the Share Consolidation, the 443,974,216 common shares which were previously issued and outstanding were reduced to 22,198,721 common shares. Each fractional common share equal to or greater than 0.5 common shares was rounded up to the nearest whole common share and each fractional common share less than 0.5 common shares was rounded down to the nearest whole common share.
The effective date for the Share Consolidation is April 29, 2021. The Company advises that the post-consolidation common shares of the Company will trade under the new CUSIP number 29272D200 and the new ISIN number CA29272D2005. The Company's name and stock symbol will remain unchanged.
The Share Consolidation will impact all of the Company's shareholders equally, including holders of outstanding securities that are convertible or exercisable for shares that are outstanding on the effective date of the Share Consolidation, except for minor changes or adjustments resulting from the treatment of fractional shares. The exercise prices and number of shares issuable on the exercise of any warrants, options, or other convertible securities of the Company will be automatically proportionally adjusted based on the consolidation ratio.
A letter of transmittal regarding the Share Consolidation will be mailed to the Company's registered shareholders. All registered shareholders will be required to send their certificate(s) or Direct Registration ('DRS') advice representing pre-consolidation shares, along with a properly executed letter of transmittal, to the Company's registrar and transfer agent, Computershare Trust Company of Canada, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their common shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary for their post-Share Consolidation positions. Until surrendered, each share certificate or DRS representing pre-consolidation shares will represent the number of whole post-consolidation shares to which the holder is entitled as a result of the Share Consolidation. A copy of the letter of transmittal will be posted on the Company's issuer profile on SEDAR at www.sedar.com.
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turn-key energy solutions which are intelligent, bankable and sustainable. Most energy products and solutions can be implemented immediately wherever they are needed. EHT stands above its competitors by combining a full suite of solar PV, wind and battery storage solutions, which can deliver energy 24 hours per day in both small-scale and large-scale format. In addition to traditional support to established electrical networks, EHT excels where no electrical grid exists. The organization supplies advanced solutions for various industries in combination with energy saving and energy generation solutions. EHT's expertise includes the development of module structures with full integration of smart energy solutions. These are processed through EHT's production technologies into attractive applications: modular homes, cold storage facilities, schools, residential and commercial out buildings and emergency/temporary shelters.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: EnerDynamic Hybrid Technologies Corp.
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