New York, New York (February 8, 2021) – Harmony Energy Technologies Corporation (“Harmony” or the “Company”) is pleased to announce the completion of a non-brokered private placement (the “Private Placement”). An aggregate of 200,000 units of the Company (the “Units”) were issued at a price of $0.10 per Unit for gross proceeds of US$20,000. Each Unit consists of one common stock of the Company and one common stock purchase warrant (“Warrant”). Each Warrant entitles its holder to purchase one common stock at the purchase price of $0.25 per share during an 36-month period beginning at the closing date. Any securities issued under the Private Placement would be subject to a statutory hold period of twelve months and one day from their date of issuance.
Harmony also announces the settlements of account payable to two insiders of the Company for an aggregate amount of $10,000.00 (the "Insider Debt Settlement"), in consideration for the issuance of an aggregate of 100,000 Shares (deemed price of $0.10 per Share). The Company’s Board is of the view that this Insider Debt Settlement is an appropriate means of compensation, as well as an effective means of preserving the treasury.
To compensate an independent consultant, the Company issues 20,000 common stock of the Company as one time compensation, in lieu of cash consideration at a prices of $0.10 per share.
WARNING: Certain statements in this press release may be forward-looking, including those with respect to the timing. Forward-looking statements address future events and conditions and therefore involve inherent risks, uncertainties and assumptions. Actual results may differ materially from those currently anticipated in such statements. The Company relies upon litigation protection for forward-looking statements. The reader is warned against undue reliance on these forward-looking statements.
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