TORONTO, ONTARIO — (Marketwired) — 12/22/16 — EEStor Corporation (TSX VENTURE: ESU) (“EEStor” or the “Company”) announced today that, as part of its annual compensation review and subject to regulatory approval, it has granted stock options to acquire an aggregate of 1,439,512 common shares to directors and officers of the Company under the Company–s stock option plan. Each option is exercisable to acquire one common share at a price of $0.49. The options are all subject to vesting restrictions and expire five years from the date of grant.
About EEStor Corporation
The Company–s mission is to be the provider of leading edge electrical energy storage and related capacitor technologies. The Company operates on the principle and belief that a fundamental breakthrough in energy storage will be the catalyst for positive environmental and economic change globally. The Company–s current business strategy is focused on licensing and partnership opportunities across a broad spectrum of industries and applications building on its recent technology achievements related to capacitors.
The Company holds an approximate 71.3% as-converted equity and voting interest and certain technology rights to a solid-state capacitor and related energy storage technologies currently under development by EEStor, Inc. The acquisition of the controlling interest in EEStor, Inc. aligned the businesses of both companies and now allows EEStor Corporation to benefit from other revenue streams that should be available to EEStor, Inc., including applications throughout the capacitor industry and not limited to high density energy storage applications.
The Company–s success depends on the commercialization of the technology developed by EEStor, Inc. and there is no assurance that it will be successful in the completion of the various enhancement phases to warrant the anticipated licensing opportunities in the technology. Readers are directed to the “Risk Factors” disclosed in the Company–s public filings.
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.
Contacts:
EEStor Corporation
Ian Clifford
Chief Executive Officer
416-535-8395
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