Hybrid Power Solutions Inc. Announces Non-Brokered Prospectus Financing of Units

Hybrid Power Solutions Inc. Announces Non-Brokered Prospectus Financing of Units

Vancouver, British Columbia– Hybrid Power Solutions Inc. (CSE: HPSS) (OTCQB: HPSIF) (FSE: E092) is excited to announce a non-brokered prospectus financing of units, offering up to 5,000,000 Units at $0.30 per Unit for gross proceeds of up to $1,500,000. Each Unit will consist of one common share of the Company and one Common Share purchase warrant, allowing the holder to acquire one Common Share at an exercise price of $0.32 per Unit Warrant Share for a period of 24 months.

The acceleration clause of the Warrants states that if the volume weighted average price of the Common Shares on the Canadian Securities Exchange exceeds $0.40 for 5 consecutive trading days, the Company may accelerate the expiry date of the Warrants. The Offering will be subscribed by accredited investors, and the Company will enter into formal subscription agreements with each investor.

The proceeds from the Offering will be used for general working capital and corporate purposes. The Units will be qualified under a shelf prospectus supplement to be filed with securities commissions in several provinces. The Offering is expected to close on or about April 30, 2024, subject to necessary approvals.

Hybrid Power Solutions Inc. is a Canadian clean energy company specializing in sustainable energy solutions. With a focus on innovation and environmental responsibility, the Company continues to lead the way in providing scalable, cost-effective power solutions.

For more information, please contact Francois Byrne, CEO and Director, at [email protected] or visit www.investhps.com.

Forward-Looking Statements: This news release contains forward-looking information under Canadian securities legislation. Actual results may differ from anticipated results due to various factors, including regulatory approvals. Readers should not rely solely on forward-looking statements.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

Source: https://www.newsfilecorp.com/release/205805