Energy Plug Technologies Corp. ("Energy Plug" or the "Company"), is pleased to announce that, further to its press releases dated July 31, 2024, the Company has closed the first tranche of its non-brokered private placement (the "Private Placement"), issuing 5,320,000 common shares (the "Shares") at a price of $0.05 per Share for aggregate gross proceeds of $266,000.
The gross proceeds raised from the sale of Shares will be used for general corporate matters.
The Company paid finders a cash fee of $18,880 and issued 377,600 brokers' warrants (the "Brokers' Warrants") as compensation for introducing certain purchasers of Shares to the Company. The Brokers' Warrants are exercisable at $0.125 per Broker Warrant for a period of one year from closing.
Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the Offering will be subject to a four month hold period commencing on the Closing Date.
