EHT Reports Positive Third Quarter 2021 Results Resulting from Full Restructuring and Acquisition of Windular

NIAGARA FALLS, ON / ACCESSWIRE / November 2, 2021 / EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) (“EHT” or the “Company”), a global leader in solar and wind renewable energy technologies, is pleased to present its third quarter financial results for the period ended August 31, 2021 (“Q3, 2021”).

EHT wishes to highlight the positive impact of the acquisition of Windular Research and Technologies Inc. (“Windular”) and the reduction of outstanding debentures completed on August 25, 2021.

  1. Revenue for the quarter increased from $ 65,285 in the third quarter of 2020 to $ 436,902 in the third quarter of 2021, an increase of over 569%.

  2. The principal amount of the 18% debentures decreased by $ 7,229,000, resulting in significant savings to the Company of over $ 1,300,000 in interest expense per year.

  3. Shareholders’ equity improved from November 30, 2020 ($ 32,393,281) to August 31, 2021 by ($ 2,788,498). This is an improvement (gain) of $ 29,604,783 due to our full restructuring completed in 2021. As sales and earnings ramp up in EHT’s business lines, we will be able to ” achieve positive equity in cash in the near future.

John Gamble CEO commented: “The completion of the equity consolidation, debt restructuring and financing in the third quarter was the biggest and most significant change in the company’s financial position since. his creation. coupled with the addition of Windular, means we now have a strong balance sheet to execute on our business plan.With the announced fourth quarter revenues from Bell Canada and innovation in Puerto Rico, we are starting to position the company for significant revenues The actions we take now will prepare us for a very positive year 2022 with more than $ 50 million in revenues expected from our residential developments in Puerto Rico Net-Zero among our many other initiatives, from Windular’s work with the global telecommunications to our SolaStream and Agriculture technology. “

The table below presents the impact of the transactions carried out during this quarter as well as a summary of the structure of the share capital:

Table of post-transaction limits

Group of shareholders

Undiluted

Percent (undiluted)

Fully diluted

Percentage
(fully diluted)

EHT Post-Consolidation

22 198 721

32.14%

34 514 078

39.91%

Windular ($ 15,000,000 @ 0.70 share)

21,428,572

31.03%

21,428,572

24.78%

Debentureholders ($ 14,228,110 @ 0.70 share)

20 325 871

29.43%

20 325 871

23.51%

Funding ($ 3,566,400 @ 0.70 units)

5,094,857

7.40%

10,189,714

11.80%

Total issued and in circulation

69 048 021

100%

86 458 235

100.00%

Highlights for the three-month period ended August 31, 2021:

  • Acquired all of the issued and outstanding shares of Windular in a stock transaction valued at $ 15 million. Pursuant to the Acquisition, the Company issued 21,428,572 common shares (the “Issued Shares”) to the shareholders of Windular at a deemed price of $ 0.70.

  • Has entered into agreements with certain debtors and creditors, including certain debenture holders, to settle a total debt of $ 14,228,109.94 by issuing 20,325,871 common shares of the Company at a deemed price of 0.70 Cdn $ per settlement share in accordance with the policies of the TSX Venture Exchange.

  • Closing of a non-brokered private placement of 5,094,857 units (each, a “unit”) at a price of CAD $ 0.70 per unit for total gross proceeds of $ 3,566,399.90.

The full copy of EHT’s third quarter 2021 results have been filed on SEDAR and will also be available on the Company’s website.

About EnerDynamic Hybrid Technologies

EHT (TSXV: EHT) provides exclusive turnkey energy solutions that are smart, bankable and sustainable. Most energy products and solutions can be implemented immediately where they are needed. EHT sets itself apart from its competitors by combining a full line of solar photovoltaic, wind and battery storage solutions, which can provide power around the clock, both on a small and large scale. In addition to traditional support to established power grids, EHT excels where there is no power grid. The organization provides advanced solutions for various industries in combination with energy saving and power generation solutions. EHT’s expertise includes the development of module structures with full integration of smart energy solutions. These are transformed through EHT’s production technologies into attractive applications: modular homes, cold storage facilities, schools, residential and commercial outbuildings and emergency / temporary shelters. Windular Research and Technologies Inc. (WRT) provides cutting-edge wind technology to the global telecommunications market whereby the WRT system can be implemented directly on any existing or new tower configuration. WRT provides a source of renewable energy in remote and rural areas where the primary source of energy is diesel. WRT’s innovative system offers customers a lower overall cost of ownership as well as a reduced carbon footprint.

For more information, please contact:

John gamble
Chief Executive Officer
EnerDynamic Hybrid Technologies Corp.
Phone. : 289-488-1699
Email: [email protected]

Neither the 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.

Statements contained in this document that are not historical facts are forward-looking statements. Forward-looking information relating to the sales of products (the “Opportunities”) involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects, for the Opportunities to differ materially from those expressed. or implied by this forward-looking information. information search. Although EHT believes that the assumptions used in preparing forward-looking information about the opportunities described in this press release are reasonable, one should not place undue reliance on such information, which only applies as of the date of this press release. press release, and no assurance can be given that such events will occur within the disclosed time frame or not at all. EHT disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.

THE SOURCE: EnerDynamic Hybrid Technologies Corp.

See the source version on accesswire.com:
https://www.accesswire.com/670684/EHT-Reports-Positive-Third-Quarter-2021-Results-Resulting-From-Comprehensive-Restructuring-Windular-Acquisition

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