Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that PWWR Flow, the combined heat and power ("CHP") brand of the Company, is advancing a CHP project of approximately $2.2 million in capital for a condominium in mid-town Toronto, Canada (the " CHP Project "). The CHP Project is expected to generate more than $16 million in total revenue for PWWR Flow over a 25-year Energy Service Agreement ( "ESA ") timeframe.
"Our PWWR Flow brand is positioned to deliver more immediate revenue and contribute to earnings for AFCP as a complement to our longer-term, hydrogen-powered alkaline fuel cells ", commented Frank Carnevale, CEO. "We are actively moving through our $50 million sales pipeline of CHP projects, and we have already begun discussions to grow beyond it."
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e37fddf-d43f-43ca-97a4-0387efe92307
PWWR Flow Mid-town Toronto CHP Project
As outlined within the PWWR Flow acquisition closing press release dated April 22, 2022, the Company has officially notified the applicable Condo Corporation (" Condo Corp ") that PWWR Flow is moving ahead with development of the estimated $2.2 million CHP Project, targeting a July 2023 Commercial Operation Date. The ESA was signed with the Condo Corp on April 21, 2021. The CHP Project would produce electricity and heat on a 24/7 basis for the baseload of the condominium. The electricity produced will be sold to the Condo Corp at up to 20 percent discount to the market price that the Condo Corp would otherwise pay to their local electricity distribution company, which brings them significant savings. The heat produced will be sold at the price equivalent to the condominium's current heating cost. It is a high-efficiency CHP system with estimated annual efficiency of approximately 75 percent.
AFCP is immediately commencing the connection impact assessment study, required to connect in Toronto Hydro service territory, as well as the final engineering design. The Company expects to order the CHP engine in Q4 of 2022, and the Company does not anticipate any supply chain issues with delivery.
As reported in the Company's Q2 Financials on August 12, 2022, AFCP had approximately $3.1 million in cash at quarter end. To supplement this cash balance, the Company anticipates securing project debt on CHP systems, AI 2191 Yonge Ltd., and this latest project, by Q4 2022. In the interim, AFCP will continue to allocate its current cash toward further projects development.
As detailed within our June 20, 2002 press release, the Company has provided an outlook for the balance of 2022, a key component of which includes continuing to progress growth of the PWWR Flow Streams business. AFCP intends to expand the Company's asset installation base by leveraging the ongoing revenue and earnings generated through PWWR Flow as we continue to develop the $50 million worth of PWWR Flow projects in our pipeline over the next few years.
ABOUT Alkaline Fuel Cell Power CORP. (NEO: PWWR)
AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘Power to the People' today, combining a stable revenue stream with a future- forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP is well positioned to deliver ‘Power to the People' in the global energy transition while offering a diversified cleantech growth platform for investors.
Further information is available on the Company website at https://www.fuelcellpower.com/ , and the Company encourages investors and other interested stakeholders to follow it on:
LinkedIn, Twitter, Facebook, Instagram and YouTube. Common shares are listed for trading on the NEO Exchange ("NEO") under the symbol " PWWR ", the OTC Venture Exchange "OTCQB" under the symbol " ALKFF " and on the Frankfurt Exchange under symbol " 77R " and " WKN A3CTYF " .
For further information, please contact:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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The electrification revolution is well underway, but will solar and wind power alone help us reach the carbon-neutral emissions goals set by governments worldwide? It’s unlikely, as we’re already seeing a dwindling supply of necessary metals, but integrating hydrogen-based technologies may help cover the gap. It’s estimated that hydrogen cleantech could meet 24 percent of the world’s energy demand by 2050 and reach annual sales of approximately €630 billion.
Current clean energy storage technology costs are prohibitive to widespread adoption, but hydrogen-based technologies are more affordable. Affordability is vital to the worldwide adoption of clean energy, and hydrogen may even compete with conventional options soon. Interest in hydrogen tech is surging, and it is estimated that the cumulative investments in renewable hydrogen in Europe alone could reach between €180-470 billion by 2050, with an additional €3-18 in low-carbon fossil-based hydrogen. It’s clear that hydrogen should not be overlooked by those looking to invest in the clean energy transition.
The company’s PWWR Flow Streams (“PWWR Flow”) solution is presently on the market and offers cost-effective combined heat and power (CHP) for multi-residential and commercial applications. Its natural gas-powered CHP systems are cost-efficient, and can reduce air emissions and maintain grid connection for peak usage times and backup power.
Alkaline Fuel Cell Power’s long-term goal, with Fuel Cell Power NV, is to develop advanced hydrogen-powered alkaline fuel cell technology that does not require a combustion process. These in-development fuel cells have already operated successfully in laboratory settings. The fuel cells are virtually silent, produce no vibrations, and the only by-product is pure water. Additionally, the Alkaline Fuel Cell Power fuel cells primarily use nickel, graphite and plastic, creating a significant cost advantage over the platinum and palladium used by its competitors.
The company is diversifying and future-proofing its revenue streams by working towards indirect micro-CHP systems sales, direct sales of CHP systems, parts production and sales, and supportive services. Its CHP business line is actively generating revenue with 33 active targets and a pipeline of 23 proposals. PWWR presently has a pipeline of ~$50 million in project capital.
Alkaline Fuel Cell Power is led by a team of managers and financial experts with decades of experience in corporate management, investor relations, and the utility sector. The diverse expertise of the management team gives confidence in its ability to achieve its near-term and long-term goals
The company’s long-term goal is the full development and commercialization of its cost-effective hydrogen-powered alkaline fuel cell. Due to proprietary research and leveraging cheaper raw materials, this fuel cell technology is poised to become the most cost-effective power solution on the market for mass adoption of clean energy.
PWWR Flow CHP systems is actively generating revenue with a pipeline of proposals to increase its profitability further. The total asset value of PWWR Flow sales pipeline is an estimated US$51.6 million. Its CHP units provide a cost-effective solution to producing electricity alongside heating and cooling.
Frank Carnevale is the Chief Executive Officer of Alkaline Fuel Cell Power Corp. (NEO:PWWR) Over the past two decades, he has developed and managed several investments in cleantech and PropTech platforms, including originating over $2.5 billion in transactions in energy and utility sectors. Carnevale is passionate in his defense of underserved energy customers- residential and small/medium, industrial, commercial and institutional customers. In delivering in the global energy transformation, he bridges investors with opportunities to deliver customer-centric solutions. Carnevale previously served as Chief Growth Officer and Chief Operating Officer of a TSXV-listed company delivering design and build thermal energy systems, HVAC and Building Controls in Canada. Prior to that, he was Founder and Chief Executive Officer of a boutique consulting, advisory and development firm where he originated and developed energy and infrastructure transactions, including the development of a large wind farm, distributed energy and retrofit contracts, and mergers and acquisitions of several electric utilities. . Carnevale previously served on the Executive Board of the Energy Council of Canada among several industry organizations.
Jo Verstappen has shifted his focus and experience towards hydrogen and fuel cell technology over the last five years because of the huge market potential and opportunities. He has vast experience in production methodology, organization, and business development for new products. His experience is key to structuring the Company and personnel, as well as making sure the Company will have a sizable footprint in the hydrogen market.
Joel Dumaresq has 30 years of experience in the financial sector, and for the last 12 years he has been the Managing Director of the Vancouver-based private equity firm Matrix Partners Inc. Dumaresq also has Oil and Gas executive management experience in the United Kingdom, East Africa and Asia, and has been instrumental in raising over $100M for Oil and Gas ventures from public markets and industry farm-downs. He has extensive expertise in mergers and acquisitions and previously worked in a financial and investment banking role with RBC Dominion Securities. He is also the Corporate Secretary, CFO and Director of the Company.
Carmine advises governments, utilities and cleantech startups across the Middle East, North America and the Caribbean. From 2013 to 2015, Carmine served as Chief Executive Officer of Hydro One Inc., one of Canada’s largest transmission and distribution companies, with a market cap of over $20 billion and over $23 billion in assets. He served in numerous executive roles from 2003, including Asset Management and Strategy and Planning.
Anthony Durkacz has served as a director and the Executive Vice-President of First Republic Capital Corporation (“FRCC”) since 2014. Prior to co-founding FRCC, Durkacz was President of Capital Ideas Investor Relations. He previously served as the Chief Financial Officer and a director of Snipp Interactive Inc., a global marketing solutions company that provides a modular software-as-a-service technology suite. Durkacz was instrumental in the financing and public listing of Snipp Interactive Inc. with operations in Canada, the United States of America, Mexico, and India. From 2006 to 2009, he served as Chief Operating Officer and Chief Financial Officer of MKU Canada Inc. and engaged in mergers and acquisitions of companies around the world. . Durkacz also served as the Chief Financial Officer and a director of Astris Energi Inc., a dual-listed public company in the United States and Canada, which was acquired by an international conglomerate. Durkacz began his career at TD Securities Inc. on the capital markets’ trading floor. He holds an Honors Bachelor of Business Administration from Brock University with a major in both accounting and finance.
Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that PWWR Flow, the combined heat and power ("CHP") brand of the Company, is advancing a CHP project of approximately $2.2 million in capital for a condominium in mid-town Toronto, Canada (the " CHP Project "). The CHP Project is expected to generate more than $16 million in total revenue for PWWR Flow over a 25-year Energy Service Agreement ( "ESA ") timeframe.
"Our PWWR Flow brand is positioned to deliver more immediate revenue and contribute to earnings for AFCP as a complement to our longer-term, hydrogen-powered alkaline fuel cells ", commented Frank Carnevale, CEO. "We are actively moving through our $50 million sales pipeline of CHP projects, and we have already begun discussions to grow beyond it."
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e37fddf-d43f-43ca-97a4-0387efe92307
PWWR Flow Mid-town Toronto CHP Project
As outlined within the PWWR Flow acquisition closing press release dated April 22, 2022, the Company has officially notified the applicable Condo Corporation (" Condo Corp ") that PWWR Flow is moving ahead with development of the estimated $2.2 million CHP Project, targeting a July 2023 Commercial Operation Date. The ESA was signed with the Condo Corp on April 21, 2021. The CHP Project would produce electricity and heat on a 24/7 basis for the baseload of the condominium. The electricity produced will be sold to the Condo Corp at up to 20 percent discount to the market price that the Condo Corp would otherwise pay to their local electricity distribution company, which brings them significant savings. The heat produced will be sold at the price equivalent to the condominium's current heating cost. It is a high-efficiency CHP system with estimated annual efficiency of approximately 75 percent.
AFCP is immediately commencing the connection impact assessment study, required to connect in Toronto Hydro service territory, as well as the final engineering design. The Company expects to order the CHP engine in Q4 of 2022, and the Company does not anticipate any supply chain issues with delivery.
As reported in the Company's Q2 Financials on August 12, 2022, AFCP had approximately $3.1 million in cash at quarter end. To supplement this cash balance, the Company anticipates securing project debt on CHP systems, AI 2191 Yonge Ltd., and this latest project, by Q4 2022. In the interim, AFCP will continue to allocate its current cash toward further projects development.
As detailed within our June 20, 2002 press release, the Company has provided an outlook for the balance of 2022, a key component of which includes continuing to progress growth of the PWWR Flow Streams business. AFCP intends to expand the Company's asset installation base by leveraging the ongoing revenue and earnings generated through PWWR Flow as we continue to develop the $50 million worth of PWWR Flow projects in our pipeline over the next few years.
ABOUT Alkaline Fuel Cell Power CORP. (NEO: PWWR)
AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘Power to the People' today, combining a stable revenue stream with a future- forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP is well positioned to deliver ‘Power to the People' in the global energy transition while offering a diversified cleantech growth platform for investors.
Further information is available on the Company website at https://www.fuelcellpower.com/ , and the Company encourages investors and other interested stakeholders to follow it on:
LinkedIn, Twitter, Facebook, Instagram and YouTube. Common shares are listed for trading on the NEO Exchange ("NEO") under the symbol " PWWR ", the OTC Venture Exchange "OTCQB" under the symbol " ALKFF " and on the Frankfurt Exchange under symbol " 77R " and " WKN A3CTYF " .
For further information, please contact:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
News Provided by GlobeNewswire via QuoteMedia
Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce today that the Company has filed its financial and operating results for the three and six month periods ended June 30, 2022. Select financial and operational information is outlined below and should be read in concert with AFCP's consolidated financial statements and management's discussion and analysis ("MD&A") for the second quarter and first half 2022, available on SEDAR at www.sedar.com and on AFCP's website at www.fuelcellpower.com .
"AFCP is diversifying its investments into more immediate revenue generating investments such as its CHP assets, and improving its ability to bring its fuel cells to market, quicker," commented Frank Carnevale, Chief Executive Officer. "Investors want a more de-risked investment platform, and we're on our way to delivering."
AFCP realized significant progress and advancements during the second quarter of 2022, including the following highlights:
As reported on June 20, 2022, the Company provided an outlook for the for balance of 2022 and over the longer-term. The Company will continue to update on the success over the coming months. Outlined below are a few of the objectives:
Ongoing Growth of PWWR Flow Streams
Continue to Progress Commercialization of Fuel Cell Power NV
ABOUT Alkaline Fuel Cell Power CORP. (NEO: PWWR)
AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘Power to the People' today, combining a stable revenue stream with a future-forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP is well positioned to deliver ‘Power to the People' in the global energy transition while offering a diversified cleantech growth platform for investors.
Further information is available on the Company website at https://www.fuelcellpower.com/ , and the Company encourages investors and other interested stakeholders to follow it on:
LinkedIn, Twitter, Facebook, Instagram and YouTube. Common shares are listed for trading on the NEO Exchange ("NEO") under the symbol " PWWR ", the OTC Venture Exchange "OTCQB" under the symbol " ALKFF " and on the Frankfurt Exchange under symbol " 77R " and " WKN A3CTYF ".
For further information, please contact:
Frank Carnevale Chief Executive Officer +1 (647) 531-8264 fcarnevale@fuelcellpower.com
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
News Provided by GlobeNewswire via QuoteMedia
Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB: ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that the Company is supplementing the ongoing development of our 4 kW Combined Heat and Power (" CHP ") fuel cell by developing a range of fuel cells that target more immediate revenue opportunities within the off-grid and back-up generator markets.
"A number of global pressures are driving rapid growth and accelerating the revenue potential of the generator market at a pace that exceeds the mass home market, and AFCP is ideally positioned to use our cost-effective alkaline technology to meet this growing demand," commented Frank Carnevale, Chief Executive Officer of AFCP. "By leveraging our existing staff and resources in Belgium and Czech Republic, we anticipate being able to generate revenue earlier by selling our fuel cells into the burgeoning generator market."
Off-Grid and Back-up Generator Systems In 2021, the global portable generator market had a value estimated at US$4.6 billion with that figure expected to grow to US$6.7 billion by 2027, representing a CAGR of 6.5% over the period 1 . AFCP is developing fuel cells of varying power output capacities to satisfy these off-grid and back-up generator markets, including fuel cell configurations with an expected stacked range between 40kW and 100kW generator systems. These configurations build on AFCP's current design for the 4kW CHP system, incorporating different membrane technology into larger fuel cells suitable for servicing the generator market.
Discussions with integrators are ongoing and AFCP will collaborate with them to gain access to assembly, sales, marketing, and maintenance capabilities for customers, with the goal of targeting systems that have a power capacity of between 40kW and 100kW with our alkaline fuel cell, including the following:
Global players currently operating within the above segments provide diesel generators which feature a significant carbon footprint compared to the zero-emission alternative offered by AFCP's fuel cells.
Key Advantages of AFCP's Alkaline Technology Alkaline fuel cell technology offers a number of meaningful advantages compared to other fuel cell types, including:
Emerging Trends in the Off-Grid Generator Segment The construction sector is a large market and accounts for 36% of global energy use and 38% of energy-related CO 2 emissions. This sector has a large demand for off-grid power generation that is currently being met by diesel power generators and aligns with the heavy transportation sector given both sectors use diesel fuel as the main energy carrier 2 .
As a result, there will be significant challenges adhering to future CO 2 and pollution regulations. For example, in April of 2022, the UK changed its legislation to restrict the use of tax free diesel in generators, which renders hydrogen powered generators as an interesting alternative both ecologically and economically. Across Europe and the UK, the power generation market shows annual sales of nearly 1 billion EUR, while globally that figure is estimated at 20 billion EUR. The market segment being targeted by AFCP represents 65% of this figure and the Company expects that demand for zero emission power generators will grow rapidly driven by the increasing emission restrictions 3 .
The growth potential of this new market is not limited to the sale of new generators; it also includes the replacement of installed generators that no longer meet stricter emission regulations. The anticipated installed base of old diesel generators is forecast between 15 and 20 billion EUR in Europe and the UK and 400 billion EUR world-wide 4 .
Diversification Lends Strength for Second Half of 2022 and Beyond On June 20, 2022, the Company released an outlook for the second half of 2022, and AFCP's expansion into the back-up and off-grid generator markets is consistent with our drive to further accelerate and ramp up efforts to bring fuel cells to market globally. The Company's inclusion of fuel cells for the generator market enables AFCP to generate revenue in the near term while the distribution system for hydrogen to be delivered to homes continues to advance, supporting our long-term goal of providing micro-CHP Alkaline Fuel Cell Power systems to the market. Off-grid and back-up fuel cell generators can operate using tanks of hydrogen that are stored on site, thus eliminating the need for hydrogen to be distributed directly to local sites.
ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR) AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘Power to the People' today, combining a stable revenue stream with a future-forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP is well positioned to deliver ‘Power to the People' in the global energy transition while offering a diversified cleantech growth platform for investors.
Further information is available on the Company website at https://www.fuelcellpower.com/ , and the Company encourages investors and other interested stakeholders to follow it on:
LinkedIn , Twitter , Facebook , Instagram and YouTube . Common shares are listed for trading on the NEO Exchange ("NEO") under the symbol " PWWR ", the OTC Venture Exchange "OTCQB" under the symbol " ALKFF " and on the Frankfurt Exchange under symbol " 77R " and " WKN A3CTYF ".
For further information, please contact:
Frank Carnevale Chief Executive Officer +1 (647) 531- 8264 fcarnevale@fuelcellpower.com
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
1 Research and Markets : Portable Generator Market, Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 2 BBC Article on Zero-Emission Construction Sites , June 22, 2021 3 Internal AFCP Market research 4 European non-road mobile machinery directive
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59d57782-be00-4119-92c1-de4c7e33da08
News Provided by GlobeNewswire via QuoteMedia
Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB: ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company") a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce that the Company is supplementing the ongoing development of our 4 kW Combined Heat and Power (" CHP ") fuel cell by developing a range of fuel cells that target more immediate revenue opportunities within the off-grid and back-up generator markets.
"A number of global pressures are driving rapid growth and accelerating the revenue potential of the generator market at a pace that exceeds the mass home market, and AFCP is ideally positioned to use our cost-effective alkaline technology to meet this growing demand," commented Frank Carnevale, Chief Executive Officer of AFCP. "By leveraging our existing staff and resources in Belgium and Czech Republic, we anticipate being able to generate revenue earlier by selling our fuel cells into the burgeoning generator market."
Off-Grid and Back-up Generator Systems In 2021, the global portable generator market had a value estimated at US$4.6 billion with that figure expected to grow to US$6.7 billion by 2027, representing a CAGR of 6.5% over the period 1 . AFCP is developing fuel cells of varying power output capacities to satisfy these off-grid and back-up generator markets, including fuel cell configurations with an expected stacked range between 40kW and 100kW generator systems. These configurations build on AFCP's current design for the 4kW CHP system, incorporating different membrane technology into larger fuel cells suitable for servicing the generator market.
Discussions with integrators are ongoing and AFCP will collaborate with them to gain access to assembly, sales, marketing, and maintenance capabilities for customers, with the goal of targeting systems that have a power capacity of between 40kW and 100kW with our alkaline fuel cell, including the following:
Global players currently operating within the above segments provide diesel generators which feature a significant carbon footprint compared to the zero-emission alternative offered by AFCP's fuel cells.
Key Advantages of AFCP's Alkaline Technology Alkaline fuel cell technology offers a number of meaningful advantages compared to other fuel cell types, including:
Emerging Trends in the Off-Grid Generator Segment The construction sector is a large market and accounts for 36% of global energy use and 38% of energy-related CO 2 emissions. This sector has a large demand for off-grid power generation that is currently being met by diesel power generators and aligns with the heavy transportation sector given both sectors use diesel fuel as the main energy carrier 2 .
As a result, there will be significant challenges adhering to future CO 2 and pollution regulations. For example, in April of 2022, the UK changed its legislation to restrict the use of tax free diesel in generators, which renders hydrogen powered generators as an interesting alternative both ecologically and economically. Across Europe and the UK, the power generation market shows annual sales of nearly 1 billion EUR, while globally that figure is estimated at 20 billion EUR. The market segment being targeted by AFCP represents 65% of this figure and the Company expects that demand for zero emission power generators will grow rapidly driven by the increasing emission restrictions 3 .
The growth potential of this new market is not limited to the sale of new generators; it also includes the replacement of installed generators that no longer meet stricter emission regulations. The anticipated installed base of old diesel generators is forecast between 15 and 20 billion EUR in Europe and the UK and 400 billion EUR world-wide 4 .
Diversification Lends Strength for Second Half of 2022 and Beyond On June 20, 2022, the Company released an outlook for the second half of 2022, and AFCP's expansion into the back-up and off-grid generator markets is consistent with our drive to further accelerate and ramp up efforts to bring fuel cells to market globally. The Company's inclusion of fuel cells for the generator market enables AFCP to generate revenue in the near term while the distribution system for hydrogen to be delivered to homes continues to advance, supporting our long-term goal of providing micro-CHP Alkaline Fuel Cell Power systems to the market. Off-grid and back-up fuel cell generators can operate using tanks of hydrogen that are stored on site, thus eliminating the need for hydrogen to be distributed directly to local sites.
ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR) AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘Power to the People' today, combining a stable revenue stream with a future-forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.
AFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
AFCP is well positioned to deliver ‘Power to the People' in the global energy transition while offering a diversified cleantech growth platform for investors.
Further information is available on the Company website at https://www.fuelcellpower.com/ , and the Company encourages investors and other interested stakeholders to follow it on:
LinkedIn , Twitter , Facebook , Instagram and YouTube . Common shares are listed for trading on the NEO Exchange ("NEO") under the symbol " PWWR ", the OTC Venture Exchange "OTCQB" under the symbol " ALKFF " and on the Frankfurt Exchange under symbol " 77R " and " WKN A3CTYF ".
For further information, please contact:
Frank Carnevale Chief Executive Officer +1 (647) 531- 8264 fcarnevale@fuelcellpower.com
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "achieve". Forward-looking statements may include, but are not limited to, statements with respect to the Company's technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
1 Research and Markets : Portable Generator Market, Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 2 BBC Article on Zero-Emission Construction Sites , June 22, 2021 3 Internal AFCP Market research 4 European non-road mobile machinery directive
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59d57782-be00-4119-92c1-de4c7e33da08
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BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) (FSE: 8MV) ("BioHarvest" or "the Company") has announced the first multimedia campaign for VINIA™ in the USA, Phase 1. The company is scaling up its US marketing in line with a 2022 growth plan that aims for significant growth in sales orders following commercial entry in 2021.
"We are delighted to launch our first integrated marketing campaign aimed at expanding our loyal customer base here in the USA," said CEO Ilan Sobel, in New York for the launch. "Bringing our new 20 Ton production facility online was integral to scaling global VINIA™ supply, so this marketing launch is testament to the entire VINIA™ team's coordinated dedication to making it happen."
The initial phase will include TV and online advertising with a special focus on Christian programming, which includes TBN (Trinity Broadcasting Network, the world's largest religious-based television network). As part of the sponsorship agreement with TBN, Sobel will appear on the network's flagship shows hosted by Eric Metaxas and Mike Huckabee, with all content to be supported by advertising and educational online content.
New 60-second VINIA™ commercials were created specifically for the TBN campaign, to start Aug 15, 2022 (View example here)
The campaign underscores VINIA's concept of "Cellular Nutrition" and the benefits of increased blood flow, bringing in Sobel and members of his own family.
"I am inspired every day to hear from our customer community on ways that VINIA™ is improving their health," Sobel said. "We measure our success by our ability to make significant positive impact to people's lives, and as such our products' efficacy is proven not only in the clinical trials but also on a daily basis with VINIA's users."
See this link for a review of the impact on three generations of the Sobel family.
BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. This technology is economical, ensures consistency, and avoids the negative environmental impacts associated with traditional agriculture. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets. Visit: www.bioharvest.com.
BioHarvest Sciences Inc. Ilan Sobel, Chief Executive Officer
For further information, please contact: Dave Ryan, VP Investor Relations & Director Phone: 1 (604) 622-1186 Email: dave@bioharvest.com
Twitter: https://twitter.com/bioharvestbhsc Facebook: https://www.facebook.com/BioHarvestSciences LinkedIn: https://www.linkedin.com/company/bioharvestsciences/ YouTube: https://www.youtube.com/channel/UCGRJWztmLoycsLFWqwXAzAw
Information set forth in this news release includes forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that strong sales metrics experienced to date will result in future demand or that proposed additional marketing expenditures will result in increased sales. There is no assurance that the company will achieve significant growth in sales orders as this would require that the marketing campaign is successful which is subject to uncertainty, particularly the response of target audiences to the campaign. Markets for nutraceuticals are unpredictable and subject to changes in consumer tastes and trends as well as economic factors beyond our control. Delays and cost overruns may result in delays achieving our objectives obtaining market acceptance, and regulatory approvals for geographic expansion are subject to risk and cannot be guaranteed.
All forward-looking statements are inherently uncertain and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures.
Neither the Canadian Securities Exchange nor its Regulation Services Provider 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/134209
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DGTL Holdings Inc. (TSXV: DGTL) ("DGTL" or the "Company") has changed its appointed auditor from Baker Tilly WM LLP ("Former Auditor") to Zeifmans LLP ("Successor Auditor") effective August 5th, 2022. DGTL Holdings Inc. board of directors accepted the resignation of the Former Auditor and appointed the Successor Auditor as the new auditor of the Company effective August 5th, 2022, and to hold office until the close of the Company's next annual general meeting of shareholders.
There were no reservations in the Former Auditor's audit reports for any financial period during which the Former Auditor was the Company's auditor. There are no "reportable events" (as the term is defined in National Instrument 51-102 - Continuous Disclosure Obligations) between the Company and the Former Auditor. In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the Company's audit committee and board of directors and filed on SEDAR.
For more information contact Investor Relations Email: IR@dgtlinc.com Phone: +1 (877) 879-3485 --
DGTL Holdings Inc. is building a portfolio of digital media technologies and services. DGTL (i.e., Digital Growth Technologies and Licensing) specializes in accelerating fully commercialized enterprise level SaaS (software-as-a service) companies entering a rapid growth lifecycle stage within the sectors of social, mobile, gaming and streaming. DGTL's vision is to build a walled garden digital media conglomerate via M&A and a blend of unique capitalization structures. DGTL is traded on the Toronto Venture Exchange as "DGTL", the OTCQB exchange as "DGTHF", and the FSE as "A2QB0L".
For more information, visit: www.dgtlinc.com
As a wholly owned subsidiary, Engagement Labs is an industry-leading data and analytics firm that provides social intelligence for Fortune 500 brands and companies. Their flagship TotalSocial® platform focuses on the entire social ecosystem by combining powerful online (social media) and offline (word of mouth) data with predictive analytics. Engagement Labs has a proprietary ten-year database of unique brand, industry and competitive intelligence, matched with its cutting-edge predictive analytics that use machine learning and artificial intelligence to reveal the social metrics that increase marketing ROI and top line revenue for itsF500 level clients. Engagement Labs is expanding its products and service offerings to a full-service social media marketing content, analytics and distribution-based social management platform.
To learn more visit https://dgtlinc.com/social-media-analytics.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts 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/133993
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Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG " or the "Company") is pleased to advise that the Company has taken a Final Investment Decision ("FID") on Phase 1 of its graphene manufacturing expansion project. The expansion project includes an executed 5 year lease to expand total office and warehouse space to 3,500 square metres, the next generation of the Company's proprietary graphene production technology with enhanced automation, a micro-grid with energy storage component to improve commercial and environmental electricity supply for the production process, and an infrastructure corridor to allow rapid scaling of further graphene manufacturing capacity during future phases of the graphene manufacturing expansion project. The project will be managed and executed by the Company's engineers with Wood engineering (the Company's graphene manufacturing scaling engineering service supplier) providing safety, assurance and design review services.
Following positive potential customer feedback from G+AI battery coin cell prototype testing, and ongoing enhancements to the Company's unique graphene production process, the Company believes enhanced and expanded production facilities are now appropriate.
The lease commitment of the additional new office and warehouse space of 1,500 square metres, which is adjacent to the existing Company leased 2,000 square metre office and warehouse, is intended to accommodate new staff and expand graphene manufacturing capacity.
The Phase 1 expansion project is expected to provide ample graphene supply for the production of the Company's graphene aluminium-ion battery ("G+AI Battery") coin cells, as well as the Company's energy saving liquid graphene products. The total investment of approximately AU$1.5 million is expected to be fully commissioned by first half of 2023. This project was envisaged in the September 2021 market raise but now also includes costs to relocate all of GMG's existing graphene manufacturing capacity adjacent to its new headquarters and Battery Development Centre ("BDC") in Brisbane, Australia.
GMG's Managing Director and CEO, Craig Nicol, commented: "Taking FID on this project is not only a reflection on the level of confidence we have in manufacturing high quality graphene for our applications at scale, it's also a reflection of our confidence to commercialise energy savings and energy storage applications in the near term. It is very pleasing to see that we are now scaling up our graphene manufacturing capacity using the propriety process that we developed ourselves since 2017."
A potential subsequent FID for further expanded graphene production which is expected to be located in the new warehouse space, will be considered upon the maturing of targeted commercialisation opportunities for either the Company's G+AI Battery and energy saving liquid graphene products. The newly leased site is expected to have enough space to enable multiple such increases of production.
By increasing the use of solar power, co-generation and energy storage systems, electricity supply will be largely self-sufficient and achieve a lower carbon emissions footprint for the production facility.
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.
GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.
In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").
For further information, please contact: - Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223 - Leo Karabelas at Focus Communications, info@fcir.ca , +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the FID on Phase 1 and a subsequent second phase of the manufacturing plant expansion project; Wood's participation in the expansion project; the timing and cost of completion of Phase 1; the enhancements to the production facility stemming from the completion of Phase 1 and subsequent phases; the ability of the expansion project to provide adequate graphene to produce G+AI battery coin cells and liquid graphene products; the production, commercialisation, scaling, quality and application of G+AI battery coin cell and theCompany's energy saving liquid graphene products; and the impact, use and capability of the expanded facility.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to uncertain demand for the Company's products, the effectiveness of Company's deployment of resources, including its personnel, the intention of the Company to develop and produce certain products, that the Company will not be successful in expanding the production facility as expected, uncertainty regarding costs of expanding the facility, that the results of the expanded facility will not be aligned with management's expectations, and that the production, commercialisation, scaling, quality and application of the G+AI battery coin cell and theCompany's energy saving liquid graphene products will differ from expectations.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the deployment of the Company's resources and personnel, that the Company will be able to expand the production facility as expected, the accuracy of the Company's expectations in relation to the effect of the Phase 1 and further expansion, and its impact on the production, commercialisation, scaling, quality and application of the Company's products.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134079
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Billy Goat Brands Ltd. (the " Company " or " Billy Goat ") (CSE: GOAT), is pleased to announce that further to its news release dated June 30, 2022, it has completed the acquisition of Kojo Pet Performance Inc. (" Kojo ") in consideration of 25,000,000 common shares of the Company (each a " Consideration Share ") issued at a deemed price of $0.039 per share to the existing shareholders of Kojo (collectively, the " Vendors "). Kojo is an innovative pet-food brand focused on producing and marketing plant and cell-based pet food offerings.
Furthermore, the Vendors are eligible to earn up to an additional 30,000,000 Consideration Shares upon the realization of the following performance milestones by Kojo within 36 months from the date of closing:
The acquisition of Kojo was completed pursuant to a share purchase agreement entered into amongst the Company, Kojo and the Vendors, dated August 15, 2022. The Company is at arms-length from Kojo, and each of the Vendors. The acquisition of Kojo neither constitutes a fundamental change nor a change of business for the Company, nor has it resulted in a change of control of the Company within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. No finders' fees or commissions were payable in connection with the acquisition of Kojo.
Billy Goat Brands is an investment issuer focused on investing in high-potential companies operating in the plant-based food technology sector. It intends to accomplish these goals through the identification of and investment in securities of private listed entities that are involved in the food and beverage industry, with a focus on: (i) plant-based protein, (ii) functional foods, (iii) food technology, (iv) fermented foods, and (v) cultured and cell agriculture. The Company plans to generate returns on its investments through various outcomes, including but not limited to go-public transactions, mergers or acquisitions, and the other liquidity events of its investee companies or projects. The paramount goal of the Company will be to generate maximum returns from its investments in a manner consistent with its environmental, social and governance values.
For more information about the Company, please visit https://billygoatbrands.com/. The Company's final prospectus, financial statements and management's discussion and analysis, among other documents, are all available on its profile page on SEDAR at www.sedar.com .
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING "FORWARD-LOOKING" INFORMATION
This news release contains certain forward-looking statements within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. The Company has provided the forward-looking statements in reliance on assumptions that it believes are reasonable at this time. All such forward-looking statements involve substantial known and unknown risks and uncertainties (including those risk factors identified in the Company's prospectus dated February 15, 2022), certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, delays resulting from or inability to obtain required regulatory approval. The reader is cautioned that the assumptions used in the preparation of the forward-looking statements may prove to be incorrect and the actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Billy Goat Brands Ltd. Investor Relations Email: info@billygoatbrands.com Phone: 604-687-2038
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KWESST Micro Systems Inc. (TSXV: KWE) (OTCQB: KWEMF) (FSE: 62U) ("KWESST" or the "Company") announced today that it has publicly filed a registration statement on Form F-1 with the United States Securities and Exchange Commission (the "SEC") relating to a proposed public offering of common units, consisting of one common share and a warrant to purchase one common share, and pre-funded units, consisting of a pre-funded warrant to purchase one common share and a warrant to purchase one common share (the "Offering"). The number of units and price range for the proposed Offering have yet to be determined. The Offering is expected to take place after the SEC completes its review process, subject to market and other customary conditions. Contingent on the closing of the Offering, KWESST has applied to list its common shares on the Nasdaq Capital Market under the ticker symbol "KWE" and the warrants offered in the Offering under the ticker symbol "KWESW".
ThinkEquity will serve as sole book-running manager for the proposed Offering. The Offering will be made only by means of a prospectus, which, for the avoidance of doubt, will not constitute a "prospectus" in any Province or Territory of Canada under applicable Canadian securities legislation and has not been reviewed by any securities regulatory authority in any Province or Territory of Canada. No offer of securities to the public is being made in any Province or Territory of Canada. Copies of the preliminary prospectus related to the Offering, when available, may be obtained on the SEC's website, www.sec.gov, or from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004, by telephone at (877) 436-3673, or by email at prospectus@think-equity.com.
A registration statement relating to the proposed sale of these securities has been filed with the SEC but has not yet become effective. Securities offered under the registration statement may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell, or a solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. The Offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the Offering.
KWESST (TSXV: KWE) (OTCQB: KWEMF) (FSE: 62U) commercializes breakthrough next-generation tactical systems for military and security forces and personal defense. The company's current portfolio of unique proprietary offerings includes non-lethal systems (PARA OPSTM and ARWENTM) with application across all segments of the non-lethal market, including law enforcement and personal defence. KWESST also facilitates digitization of tactical forces with its signature TASCS system for real-time awareness and targeting information from any source (including drones) streamed directly to users' smart devices and indirect fire weapons. Other KWESST products include countermeasures against threats such as drones, lasers and electronic detection. These include: the PhantomTM electronic battlefield deception system to mask the electromagnetic signature of friendly forces with decoy signatures at false locations that deceive and confuse adversaries; a Battlefield Laser Detection System to counter the emerging threat of laser targeting of personnel; and, a non-kinetic system to counter the threat of tactical drones. These systems can operate stand-alone or integrate seamlessly with third-party OEM products and networked battlefield management systems such as ATAK. The Company is headquartered in Ottawa, Canada, with operations in Stafford, VA and representative offices in London, UK and Abu Dhabi, UAE.
For more information, please visit https://kwesst.com/ Contact: Steve Archambault, CFO, archambault@kwesst.com or (613) 317-3941
Jason Frame, Investor Relations: frame@kwesst.com
Dave Gentry, CEO RedChip Companies 1-800 RED-CHIP (733-2447) 407-491-4499 KWEMF@redchip.com
Angela Trostle Gorman angela@AMWPR.com 1-917-348-0083
Cautionary Note Regarding Forward-Looking Statements
Certain statements made in this announcement are forward-looking statements including with respect to the creation of a trading market for the Company's shares in the United States. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including if the Company's registration statement is not declared effective by the SEC or if Nasdaq fails to approve the Company's listing application. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
Neither 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133966
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CoinSmart Financial Inc. ("CoinSmart" or "CFI") (NEO: SMRT) (FSE: IIR), a leading Canadian headquartered crypto asset trading platform, announces the release of its condensed interim consolidated financial statements for the three months ended June 30, 2022 and related management discussion and analysis. These documents will be posted on CoinSmart's website at www.coinsmart.cominvest and SEDAR at www.sedar.com .
Other CoinSmart Q2 2022 Corporate Highlights
1 All figures are preliminary, unaudited and subject to final adjustment.
CoinSmart CEO Justin Hartzman commented:
"Q2 2022 was a challenging period for the overall cryptocurrency industry, including the decrease of the global market capitalization and the implosion of some of the industries' largest players. I am proud of what the CoinSmart team has accomplished during this turbulent time. We continued to innovate with new product launches and were able to optimize resources towards business lines that are less correlated to market sentiment. In Q3 2022 and beyond, our focus remains on scaling OTC trading and SmartPay – our proprietary crypto payments platform, while we maintain growth on the retail side of the business. We have been quick to adapt in a market that rapidly changes. We took actions to contain costs early in the cycle and now focus on revenue production. I am excited for what the future has in store for CoinSmart as we brave the inclement market conditions and use this time to build and prepare for the next bull run ahead."
CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a securities dealer and marketplace with the Ontario Securities Commission. CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand.
CoinSmart further builds on its mission to make cryptocurrency accessible by providing educational resources tailored to every level of cryptocurrency knowledge and unparalleled 24/7 omni-channel customer support. Offering instant verification, industry leading cold wallet storage, advanced charting with order book functionality and over-the-counter premium services, CoinSmart ensures every client's needs are met with the highest level of quality and care. For more information, please visit https://www.coinsmart.com/ .
Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute "forward-looking information" (" forward-looking information ") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this news release, CoinSmart has made certain assumptions. Although CoinSmart believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: regulatory approvals. Accordingly, readers should not place undue reliance on the forward-looking information contained in this news release. Except as required by law, CoinSmart disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
Connect with CoinSmart: Website | LinkedIn | Twitter | Instagram | Facebook
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