Toronto, Ontario, Canada
EESTOR CORPORATION APPLIES FOR EXTENSION OF WARRANTS
Toronto, Ontario – October 30, 2015– EEStor Corporation (formerly ZENN Motor Company Inc.) (TSXV: ESU; the “Company”), announced today it has applied to the TSX Venture Exchange for acceptance to extend the expiry date of 3,704,000 outstanding common share purchase warrants for an additional twelve months to November 14, 2016. Each warrant currently entitles the holder to purchase one common share of the Company at a price of $1.50 per share until November 13, 2015, with a previous expiry date of May 14, 2015.
About EEStor Corporation
EEStor Corporation’s mission is to be the provider of leading edge capacitor and energy storage solutions and related technologies. The Company operates on the principle and belief that a fundamental breakthrough in high voltage capacitance and related 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 in the capacitor industry.
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. aligns 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.
EEStor, Inc.’s capacitor and energy storage technology is still under development and a number of further development milestones must be achieved before commercial viability can be fully established. There are significant risks associated with the development of new technologies such as EEStor, Inc.’s capacitor and energy storage technology and readers are directed to the “Risk Factors” disclosed in EEStor Corporation’s most recent Annual Information Form filed on SEDAR.
For additional information please contact:
Chief Financial Officer
Tel. 416-535-8395 ext. 220
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.