Harmony Announces Private Placement, Debt Settlements, Stock Offsets and Voting Results from Annual General and Special Meeting of Shareholders



New York, New York – (Newsfile Corp. – July 8, 2021) – Harmony Energy Technology Corporation (“Harmony“or the”Company“) is pleased to announce the completion of a non-intermediary private placement (the“ Private Placement ”). A total of 1,000,000 units of the Company (the“ Units ”) were issued at a price of 0 $ 10 per Unit for gross proceeds of $ 100,000 Each unit consists of one common share of the Company and one common share purchase warrant (“Warrant”). allows its holder to purchase an ordinary share at the purchase price of $ 0.25 per share for a period of 36 months The securities issued within the framework of the Private Placement would be subject to a legal retention period of twelve months and a day from their date of issue.

Harmony also announces the settlement of the account payable to an insider of the Company for a total amount of $ 12,000.00 (the “Insider Debt Settlement”), in consideration for the issuance of a total of 120 000 shares (assumed price of $ 0.10 per share). The Board of Directors of the Company believes that this insider debt settlement is an appropriate form of compensation, as well as an effective means of preserving cash flow.

To compensate an independent consultant and two insiders, the Company issues 190,000 common shares of the Company as one-time compensation, in lieu of cash consideration at a price of $ 0.10 per share.

The Company is also pleased to communicate the results of its Annual General and Special Meeting of Shareholders (the “AGM”) held on July 8, 2021.

A total of 7.02 million common shares, representing approximately 54.39% of the issued and outstanding common shares of the Company, were voted on at the AGM. Harmony shareholders voted strongly in favor of each item submitted to the AGM, with 100% of the votes cast in favor of each of the appointment of Kreston GTA LLP as auditors, approval of the stock option plan on rolling stock of the incorporation, and the election of Christian Guilbaud, Kenneth Charles Grainger, Rui Zhu, Nan (Nancy) Du and Nick Zeng as directors for the following year.

About Harmony

Harmony Energy Technologies Corporation is an American technology startup focused on the development of energy storage activities.

DISCLAIMER: Certain statements in this press release may be forward-looking, including those regarding timing. Forward-looking statements deal with future events and conditions and therefore involve inherent risks, uncertainties and assumptions. Actual results may differ materially from those currently anticipated in these statements. The Company relies on litigation protection for forward-looking statements. The reader is cautioned not to place undue reliance on these forward-looking statements.

The Regulation Services Provider accepts no responsibility for the adequacy or accuracy of this release.

For more information, please visit www.hetcusa.com or contact:

Harmony Energy Technology Corporation
Nick Zeng, President and CEO
Email: [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89786


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