TORONTO, Jan. 23, 2020 (GLOBE NEWSWIRE) -- EEStor Corporation (TSX.V: ESU) (“EEStor” or the “Corporation”) announces that following termination of negotiations with FWG Ltd., its board of directors has initiated discussions to acquire an arm’s-length party involved in the development of sustainable energy technology. The board is also reviewing other potential opportunities for strategic technology acquisitions to augment the Corporation’s existing portfolio.

The Corporation continues to focus on merger and acquisition opportunities as its most effective path forward.

Ian Clifford, Chief Executive Officer of the Corporation, noted: “With our 16 years of experience in the public markets and our broad reach to capital and highly skilled industry specialists, the acquisition model is proving to be very compelling to a number of technology companies ready to integrate and make the move. We are excited by this path and the opportunities it represents.”

The Corporation anticipates providing further information regarding proposed transactions as negotiations progress.

Readers are cautioned that the Corporation has not yet reached final terms for any transaction, and there can be no assurance that a transaction will proceed.

About EEStor

EEStor is a developer of high energy density solid-state capacitor technology utilizing patented Composition Modified Barium Titanate (CMBT) material. EEStor is committed to providing commercially viable and sustainable energy solutions across a broad spectrum of industries and applications.

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 release.

All statements, other than statements of historical fact, contained in this press release including, but not limited to (i) generally, or the “About EEStor” paragraph which essentially describes the Corporation’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Ian Clifford
Chief Executive Officer
416-535-8395 ext. 3
ian.clifford@eestorcorp.com