Energy
Monday, August 19th, 2024 2:11 pm EDT
Key Points
- Hybrid Power Solutions extended the maturity date of its secured convertible debentures by 60 days, from August 18, 2024, to October 17, 2024, with a new conversion price reduced from $0.32 to $0.14 per share.
- The principal amount of the debentures totals approximately $161,100, and these adjustments were agreed upon with one arm’s length party who holds the debentures.
- Hybrid Power Solutions continues its focus on sustainable energy solutions, positioning itself as an innovator in clean energy with scalable, cost-effective power solutions.
Vancouver, British Columbia–(Newsfile Corp. – August 19, 2024) – Hybrid Power Solutions Inc. (CSE: HPSS) (OTCQB: HPSIF) (FSE: E092)(“Hybrid” or the “Company“) announces that it has amended the terms of its outstanding secured convertible debentures representing a principal amount of approximately $161,100 (the “Debentures“). The Debentures are held by one arm’s length party (the “Debentureholder“) and were originally purchased in August, 2023 (see the Company’s news release dated August 29, 2023 for more information). The Debentures were initially set to mature on August 18, 2024 and the Debentureholder agreed to extend this maturity date by 60 days to October 17, 2024. In addition, the conversion price of the Debentures has been decreased from $0.32 per share to $0.14 per share. Other than the amendments disclosed above, the original terms of the Debentures remain in full force and effect.
For further information, inquiries, or media opportunities, please contact:
On behalf of the Company:
Francois Byrne
CEO and Director
invest@hybridps.ca
1 (866) 549-2743
www.investhps.com
About Hybrid Power Solutions Inc.
Hybrid Power Solutions Inc. is a Canadian clean energy innovator listed on the Canadian Securities Exchange under the symbol “HPSS”. The company specializes in developing sustainable energy solutions that redefine power access and storage across industries. With a focus on innovation and environmental responsibility, Hybrid continues to lead the charge in providing scalable, cost-effective power solutions for a greener future.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220365
