IIROC Trade Resumption - PWWR

IIROC Trade Resumption - PWWR

Trading resumes in:

Company: Cleantech Power CORP.

NEO Exchange Symbol: PWWR

All Issues: Yes

Resumption (ET): 8:00 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada .

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions

Cision View original content: https://www.newswire.ca/en/releases/archive/May2023/16/c8879.html

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Cleantech Power Corp. Enters Into Letter of Intent for Collaborative Energy Project Development

Cleantech Power Corp. Enters Into Letter of Intent for Collaborative Energy Project Development

Cleantech Power Corp. ( NEO: PWWR ) ( OTCQB: PWWRF ) ( Frankfurt: E43, WKN: A3EEHV) (" PWWR " or the " Company "), a diversified investment platform developing affordable, renewable, and reliable power and cleantech, is pleased to announce that the Company has entered into has entered into a non-binding Letter of Intent (" LOI ") with PowerTap Hydrogen Fueling Corp., a wholly owned subsidiary of PowerTap Hydrogen Capital Corp. (NEO: MOVE) (OTC: MOTND), a leading provider of on-site hydrogen fueling stations, to explore a collaborative energy project development. Both companies aim to leverage their respective expertise in the cleantech industry to advance the adoption of low carbon intensity clean hydrogen and renewable energy solutions. Under the terms of the LOI, both parties will use their best commercial efforts to negotiate a definitive agreement within one hundred eighty (180) days, setting out the terms and conditions of the collaboration (a " Potential Transaction "). The Company does not anticipate issuing any securities in connection with a Potential Transaction unless the FTFCTO (as defined below) has been lifted by the British Columbia Securities Commission (the " BCSC ").

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PowerTap Hydrogen Fueling Corp. and Cleantech Power Corp. Enter Into Letter of Intent for Collaborative Energy Project Development

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PowerTap Hydrogen Capital Corp. (NEO: MOVE) (OTC: MOTND) ("PowerTap" or the "Company" or "MOVE") PowerTap Hydrogen Fueling Corp., a wholly owned subsidiary of the Company, a leading provider of on-site hydrogen fueling stations, has entered into a non-binding Letter of Intent (" LOI ") with Cleantech Power Corp. (NEO: PWWR) (" PWWR ") to explore a collaborative energy project development. Both companies aim to leverage their respective expertise in the cleantech industry to advance the adoption of low carbon intensity clean hydrogen and renewable energy solutions. Under the terms of the LOI, both parties will use best commercial efforts to negotiate a definitive agreement within one hundred eighty (180) days, setting out the terms and conditions of the collaboration.

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Cleantech Power Corp. Enters Into Non-Binding Letter of Intent to Acquire Combined Heat and Power Assets

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Cleantech Power Corp. ( NEO: PWWR ) ( OTCQB: PWWRF ) ( Frankfurt: E43, WKN: A3EEHV) (" PWWR " or the " Company "), a diversified investment platform developing affordable, renewable, and reliable power and cleantech, is pleased to announce that the Company has entered into a non-binding letter of intent (the " Letter of Intent ") with an arm's length third party to acquire, directly and indirectly, certain operating combined heat and power and other assets (the " CHP Assets ") located in North America (the " Potential Transaction ").

Pursuant to the Letter of Intent, the Company may acquire the CHP Assets by making two payments. The first payment relates to CHP Assets which are past commercial operation and will consist of a payment of approx. $7.5 million (the " COD Payment "). The COD Payment will be made on close of the Potential Transaction. The second payment relates to CHP Assets which are currently not past their commercial operation date and will consist of a payment of approx. $5 million (the " Non-COD Payment " and, collectively with the COD Payment, the " Aggregate Payment Amount "). The Non-COD Payment will be made in the sole-discretion of the Company. The Company believes that if consummated, the transactions contemplated in the Letter of Intent have the potential to provide the Company with approximately $1.5 million annual cash flow. Certain of the projects associated with the CHP Assets are subject to contract terms between 15 to 20 years.

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The Warrants are currently due to expire on May 7, 2023 and the Company has applied to the Exchange to extend the expiry date of the Warrants to August 7, 2023. The exercise price of the Warrants will remain at $0.20. The Company does not view the Warrant Amendments as material and therefore, disinterested shareholder approval is not required pursuant to the policies of the Exchange, and the Exchange has accepted the extension. The Warrant Amendments were passed unanimously by the board of directors of the Company.

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