Electrovaya Inc. (TSX:EFL) announced a non brokered private placement of 2,422,222 units at a price of CAD 1.35 per unit for gross proceeds of CAD 3,269,999.7 on January 11, 2021. Each unit comprises one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at a price of CAD 1.75 for a period of twenty four months from the closing of the offering. The securities issued are subject to hold period of four months plus a day from the date of issuance pursuant to applicable securities laws.