EEStor Corporation to Complete Private Placement and Amend Terms of Share Purchase Warrants - Seite 2

The Corporation may pay finders’ fees to eligible parties who have introduced subscribers to the Offering. All securities to be issued by the Corporation in connection with the Offering will be subject to a four-month-and-one-day statutory hold period in accordance with the policies of the TSX Venture Exchange. Completion of the Offering remains subject to approval of the TSX Venture Exchange, and cannot be completed until such approval has been obtained. Completion of the Offering is not contingent on completion of any transaction with Infinium Generation Ltd.

Warrant Amendment

The Corporation previously announced that it would amend the terms of an aggregate of 4,055,000 share purchase warrants (the “March Warrants”), currently exercisable to acquire common shares of the Corporation at a price of $0.45 until March 16, 2020. The March Warrants were previously issued in connection with a tranche of a non-brokered private placement completed by the Corporation. In addition to the March Warrants, the Corporation now intends to amend the terms of a further 2,743,000 share purchase warrants (the “April Warrants”), issued in connection with a further tranche of the same placement, and which are currently exercisable to acquire common shares of the Corporation on the same terms until April 12, 2020.

Under the terms of the amendment, both the March Warrants and the April Warrants will now be exercisable at a price of $0.10 until March 16, 2021 and April 12, 2021, respectively. In accordance with the policies of the TSX Venture Exchange, the amendment will also provide that the exercise period of the warrants will be reduced to thirty days if, for any ten consecutive trading days, the closing price of the common shares of the Corporation on the TSX Venture Exchange is $0.125 or greater. The reduced thirty-day period will begin seven calendar days after such ten-consecutive-trading-day period.

The March Warrants, and the April Warrants, were previously issued in connection with a non-brokered private placement completed by the Corporation, and not in compensation for any services provided to the Corporation. None of the March Warrants, or the April Warrants, are held by directors, officers or control persons of the Corporation.

About EEStor

EEStor is a developer of high energy density solid-state capacitor technology utilizing patented Composition Modified Barium Titanate (CMBT) material. EEStor is committed to providing commercially viable and sustainable energy solutions across a broad spectrum of industries and applications.