MISSISSAUGA, Ontario -- Hydrogenics Corporation(NASDAQ:HYGS) (TSX:HYG) (the "Company”), a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced that it has drawn down the funds under its previously announced US$9 million loan facility (“the Facility”) with Export Development Canada (“EDC”).
The Company intends to use its net proceeds from the Facility primarily for ongoing working capital requirements and to fund capital expenditures related to our in-house manufacturing of fuel cell components.
The Company also announces that it has fully settled its prior US$7.5 million facility with a syndicate of lenders led by Cinnamon Investments Limited.
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities, nor shall there be any sale of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The securities will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold into the United States absent registration or an exemption from registration. The securities have not been and will not be qualified for sale by way of a prospectus under Canadian securities laws.
Hydrogenics Corporation (www.hydrogenics.com) is a world leader in engineering and building the technologies required to enable the acceleration of a global power shift. Headquartered in Mississauga, Ontario, Hydrogenics provides hydrogen generation, energy storage and hydrogen power modules to its customers and partners around the world. Hydrogenics has manufacturing sites in Germany, Belgium and Canada and service centers in Russia, Europe, the US and Canada.