Harmony Announces Private Placement, Debt Settlements, Stock Compensations and Voting Results Of Annual General and Special Shareholders' Meeting

July 08, 2021 12:47 PM EDT | Source: ZRCN Inc

New York, New York--(Newsfile Corp. - July 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 1,000,000 units of the Company (the "Units") were issued at a price of $0.10 per Unit for gross proceeds of US$100,000. 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 one insider of the Company for an aggregate amount of $12,000.00 (the "Insider Debt Settlement"), in consideration for the issuance of an aggregate of 120,000 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 and two insiders, the Company issues 190,000 common stock of the Company as one time compensation, in lieu of cash consideration at a prices of $0.10 per share.

The Company is also pleased to provide the results from its Annual and Special Shareholders' Meeting (the "AGM") held on July 8, 2021.

A total of 7.02 million common shares, representing approximately 54.39% of the Company's issued and outstanding common shares, were voted in connection with the AGM. Harmony's shareholders voted strongly in favour of each item of business put before the AGM, 100% of the votes being cast in favour of each of the appointment of Kreston GTA LLP as auditors, the approval of the Company's rolling stock option plan, amendment to certificate of incorporation, and the election of each of Christian Guilbaud, Kenneth Charles Grainger, Rui Zhu, Nan (Nancy) Du and Nick Zeng as directors for the ensuing year.

About Harmony

Harmony Energy Technologies Corporation is an American technology startup focusing on energy storage business developments.

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

Harmony Energy Technologies Corporation
Nick Zeng, President & CEO
E-mail: info@hetcusa.com

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