LONDON, Aug. 24, 2018 (GLOBE NEWSWIRE) -- Doughty Hanson Technology Ventures (“DHTV”) is pleased to announce that on August 22, 2018, it acquired ownership, through DHCT II Luxembourg SARL (“DHCT”), an affiliate of DHTV, of 1,238,095 common share purchase warrants (“Warrants”) of Eguana Technologies Inc. (“Eguana”), a Calgary-based company which designs and manufactures high performance power controls for residential and commercial energy storage systems. On August 22, 2018, DHCT entered into an agreement to provide Eguana with a $1,300,000 secured loan facility bearing interest at a rate of 8% per annum (the “Loan”). As partial consideration for the Loan, Eguana agreed to issue the Warrants to DHCT. The Warrants are exercisable on or before August 22, 2021 at an exercise price of $0.21 per Common Share.
Immediately prior to the acquisition of the Warrants, DHCT owned (i) 58,018,920 common shares of Eguana (“Common Shares”) representing approximately 26.4% of the then issued and outstanding Common Shares, and (ii) 625,000 Warrants. Following the acquisition of the Warrants, DHTV owns (i) 58,018,920 Common Shares representing approximately 26.4% of the presently issued and outstanding Common Shares, and (ii) 1,863,095 Warrants. If all of the Warrants that it holds were exercised, DHCT would beneficially own, or exercise control or direction over, an aggregate of 59,882,015 Common Shares, or approximately 27.8% of the outstanding Common Shares after giving effect to such exercise, representing an increase in its beneficial ownership or control of Common Shares of approximately 1.4%.
DHCT has acquired the Warrants for investment purposes, and may acquire further Common Shares, or dispose of its holdings of Common Shares, both as investment conditions warrant. Eguana is listed on the TSX Venture Exchange under the symbol “EGT”.
DHCT has its head office at 28 Boulevard Royal, Luxembourg, L-2449. For further information please contact Cédric Stébel, Tel: +352 27 62 11 60; Fax: +352 27 62 11 61 . Eguana’s head office is located at Unit 3, 6143 4th Street SE, Calgary, Alberta T2H 2H9.