Calgary, Alberta--(Newsfile Corp. - March 20, 2025) - Eguana Technologies Inc. (TSXV: EGT) (OTC Pink: EGTYF) ("Eguana" or the "Company"), a leading provider of high-performance energy storage systems, is pleased to announce a 10:1 share consolidation.
At the annual general and special meeting of shareholders held September 26, 2024, the shareholders of Eguana approved a consolidation of the Company's issued and outstanding common shares (the "Common Shares") at a ratio between the range of three (3) and ten (10) pre-consolidation Common Shares for each one (1) post-consolidation Common Share (the "Consolidation"). The board of directors of the Company have determined the Consolidation will proceed on a 10:1 basis. The Company currently has 451,956,022 Common Shares issued and outstanding. Following completion of the Consolidation, the Company will have approximately 45,195,602 Commons Shares issued and outstanding.
The Company expects the Consolidation will increase the price of its Common Shares, which could increase investor interest, reduce shareholder transaction costs and improve trading liquidity. Additional details about the Consolidation can be found in the Company's management information circular dated August 16, 2024, which is available on Eguana's SEDAR+ profile at www.sedarplus.ca.
The effective date and further details of the Consolidation will be disclosed in a subsequent news release. The Consolidation remains subject to TSX Venture Exchange approval.
About Eguana Technologies Inc.
Eguana's vision is to build the grid of the future by delivering flexible, modular, and cost-effective alternatives to traditional grid upgrades. Our technology provides value to all key stakeholders - from the consumer, to the electricity retailer, the distribution utility, and the system operator.
Since 1998, Eguana Technologies Inc. has connected utilities with consumers through its high-performance commercial and residential energy storage solutions. The Eguana product suite has been designed from the ground up with both the end user and the utility in mind to transition the power grid seamlessly.
Manufactured in local facilities in North America to ensure compliance and quality, Eguana's standardized platform allows the flexibility to ensure each product solution is optimized for use in major grid modernization markets.
The reader is advised that all information herein, other than statements of historical fact, may constitute forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning assigned by National Instrument 51-102 - Continuous Disclosure Obligations and other relevant securities legislation.
Certain information in this news release includes statements about management's view of future events, expectations, plans, and prospects that constitute forward-looking statements, including, but not limited to: the completion and timing of the Consolidation; the number of Common Shares outstanding following the Consolidation; whether TSX Venture Exchange and other regulatory approval of the Consolidation will be obtained; whether the price of the Common Shares will increase as a result of the Consolidation; and whether the Consolidation will increase investor interest, reduce shareholder transaction costs and improve trading liquidity. These statements are based on assumptions subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties. Many factors could cause the Company's actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by forward-looking statements. Such factors include, but are not limited to, the factors set out in the "Risk Factors" section of the Company's management's discussion and analysis for the three and six months ended June 30, 2024 and Company's management's discussion and analysis for the year ended December 31, 2023, which may be found on its website or at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
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 news release.
