CALGARY, ALBERTA--(Marketwired - June 9, 2016) -


Eguana Technologies Inc. (TSX VENTURE:EGT) ("Eguana" or the "Corporation") is pleased to announce that it has filed a preliminary short form prospectus in connection with a proposed offering of common shares in the capital of Eguana (the "Common Shares") at a price of $0.22 per Common Share for aggregate gross proceeds of up to $6,000,000 (the "Offering") on a best efforts basis. The Offering will be led by Mackie Research Capital Corporation (the "Agent") acting as lead agent and sole book runner in connection with the Offering. Further, BayFront Capital Partners Ltd. has been appointed as a selling group member.

In connection with the Offering, the Corporation has agreed to grant the Agent an over-allotment option, exercisable in whole or in part at any time until the date that is 30 days after the closing of the Offering, to purchase up to an additional 15% of the number of Common Shares sold pursuant to the Offering on the same terms as the Common Shares sold under the Offering to cover over-allotments, if any, and for market stabilization purposes.

The Agent will receive a cash commission equal to 7.5% of the gross proceeds raised under the Offering and will be granted non-transferable compensation options equal to 7.5% of the number of Common Shares sold under the Offering. Each compensation option will be exercisable into one Common Share for a period of 24 months from the closing of the Offering at a price of $0.22 per Common Share.

Eguana intends to use the net proceeds of the Offering to, among other things, improve the Corporation's balance sheet, increase working capital to provide greater supply chain flexibility, and expand product development and customer service capabilities to meet growing demand, in addition to general corporate purposes.

The Offering is being made pursuant to a short form prospectus filed in each of the provinces of Alberta, British Columbia, Ontario and Nova Scotia. A copy of the preliminary short form prospectus is available under Eguana's profile on SEDAR at

The Offering is expected to close on or about June 29, 2016 and is subject to certain customary conditions and regulatory approvals, including the approval of the TSX Venture Exchange and the entering into by the Corporation and the Agent of an agency agreement.

This press release does not constitute an offer of securities for sale in the United States or to "U.S. persons" ("U.S. persons"), as such term is defined in Regulation S promulgated under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.

About The AC Battery:

The Eguana AC Battery™ is a certified, grid ready power control solution pre-integrated with industry leading Li-Ion batteries. Our solution can be seamlessly integrated with a local energy management system or a distributed fleet control network using open communication protocols to provide a fully functional energy storage installation. The AC Battery provides maximum flexibility for system aggregators which want to deploy it as a standalone product, as part of new solar storage installations, or as a retrofit to solar PV installations already in place.

About Eguana Technologies Inc.

Eguana designs and manufactures high performance power controls for residential and commercial energy storage systems. Eguana has more than 15 years' experience delivering grid edge power electronics for fuel cell, photovoltaic and battery applications and delivers proven, durable, high quality solutions from its high capacity manufacturing facilities in Europe and North America.

With thousands of its proprietary energy storage inverters deployed in the European and North American markets, Eguana is the leading supplier of power controls for solar self-consumption, grid services and demand charge applications at the grid edge.

To learn more, visit or follow us on Twitter: @EguanaTech.

Forward-Looking Information

This press release contains certain statements or disclosures relating to the Corporation that are based on the expectations of the Corporation as well as assumptions made by and information currently available to the Corporation which may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that the Corporation anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking information. Specifically, this press release contains forward-looking information relating to the closing of the Offering and the use of the net proceeds therefrom. The forward-looking statements contained in this press release speaks only as of the date of this press release and is expressly qualified by this cautionary statement. This forward-looking statements is based on certain key assumptions regarding, among other things, the timing of closing of the Offering and the satisfaction of closing conditions, including receipt of regulatory approval. Furthermore, this forward-looking statements is subject to a variety of risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Such factors include, but are not limited to general economic conditions in Canada and the United States, industry conditions, changes in laws and regulations and changes in how they are interpreted and enforced, increased competition, volatility of commodity prices, and the inability to satisfy the closing conditions, including receipt of regulatory approval. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on the forward-looking information. Eguana's actual results, performance or achievement could differ materially from those expressed in, or implied by, this forward-looking information. The Corporation 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 required by law.

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.

Contact Information:

Eguana Technologies Inc.
Justin Holland