TORONTO, ONTARIO–(Marketwired – Sept. 26, 2016) – EEStor Corporation (TSX VENTURE:ESU) (“EEStor” or the “Company”) has been requested by the Investment Industry Regulatory Organization of Canada (IIROC) to comment on the recent increase in the trading volume and price of the Company’s common shares on the TSX Venture Exchange. The Company is not aware of any material change in its business or affairs that has not been publicly disclosed that would account for the recent increase in volume or price.
Ian Clifford, CEO and Founder of EEStor added, “As disclosed in various press releases and our 2016 Annual General Meeting presentation, continued enhancement of EEStor Inc.’s solid-state capacitor technology remains ongoing alongside discussions surrounding licensing of this technology. Additionally, EEStor has commenced work on our previously announced polymer program to optimize energy storage characteristics of the technology.”
None of these initiatives has advanced to a point where public disclosure is warranted. If and when any of these initiatives do progress to a point where a public announcement is warranted, the Company intends to immediately issue an appropriate news release.
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 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.
