Enerdynamic Hybrid Technologies Inc. announced a brokered private placement of 12,000,000 units at CAD 0.25 per unit and 16,000,000 units at CAD 0.50 per unit for aggregate gross proceeds of CAD 11,000,000 on January 24, 2014. Each unit priced at CAD 0.25 consists of one common share and one share purchase warrant, entitling the holder to purchase one common share at CAD 0.50 per share for a period of 12 months from the date shares of either become publicly traded on a recognized stock exchange or are exchanged for shares in a corporation which are publicly traded on a recognized stock exchange and at a price of CAD 0.75 per share during the period following the first anniversary and ending on the date that is 24 months following the IPO date. Each unit priced at CAD 0.50 consists of one common share and one half share purchase warrant, entitling the holder to purchase one common share at CAD 1 per share for a period of two years from the closing. Kingsdale Capital Markets Inc. will act as an agent in the transaction. The company will pay a cash commission of 7.5% of gross proceeds and 24 month warrants to purchase units equal to 10% of the units sold, plus an advisory fee consisting of 1,082,538 common shares. The transaction is expected to close immediately prior to the closing of the acquisition.

On the same date, the company has issued 10,800,000 units at CAD 0.25 per unit for gross proceeds of CAD 2,700,000 in its first tranche.