EHT Closes Non-Brokered Private Placement

NIAGARA FALLS, ON / ACCESSWIRE / November 26, 2021 / EnerDynamic Hybrid Technologies Corp. ("EHT" or the "Company") (TSXV:EHT) is pleased to announce that it has completed a non-brokered private placement of $1,500,000. The Company issued 6,000,000 units at a price of $0.25 per unit (each a "Unit" and collectively, the "Units") with each Unit consisting of one common share and one half of one common share purchase warrant (a "1/2 Warrant"). Each whole Warrant is exercisable for one common share of the Company at a price of $0.50 per share for a term of 24 months after closing until November 26, 2023 (the "Offering"). No finder's fees were paid in connection with this Offering.

The net proceeds from the Offering will be used by the Company for general working capital purposes. The Offering is subject to the approval of the TSX Venture Exchange (the "Exchange") and other relevant regulatory authorities. All securities issued under the Offering, including common shares underlying the Warrants, are subject to a four month and one day hold period until March 27, 2022, in accordance with applicable securities legislation and the policies of the Exchange.

A director and an officer of the Company have subscribed to this Offering therefor related party considerations pursuant to Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") apply. The Company has relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 as neither the fair market value of the subject matter, nor the fair market value of the consideration for, the transaction insofar as the transaction involved interested parties exceeded 25% of the Company's market capitalization.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.