The Company has also changed its name to "
Prior to closing of the Qualifying Transaction, UGE completed a private placement (the "Private Placement") of 1,406,210 shares (the "UGE Financing Shares") with
Proceeds from the Private Placement are being used as set out in the Final Prospectus of the Company dated
Early Warning Pursuant to National Instrument 62-103
Through the Castel Acquisition,
In addition, the following individuals (the "Majority Shareholders") became control persons upon closing of the Qualifying Transaction by virtue of their shareholdings in UGE immediately prior to closing:
Nicolas Blitterswykof 160 W End Ave, Apt. 12J, New York, NY10023, USAholds 551,956 Common Shares, and 2,200,000 Special Warrants which represent 5.5% of the issued and outstanding Common Shares, and which represent 10.17% of the issued and outstanding Common Shares assuming conversion of all of the Special Warrants b. Yun Liuof 160 W End Ave, Apt. 12J, New York, NY10023, USAholds 551,956 Common Shares, and 2,200,000 Special Warrants which represent 5.5% of the issued and outstanding Common Shares, and which represent 10.17% of the issued and outstanding Common Shares assuming conversion of all of the Special Warrants; and c. Xiangrong Xieof ChangQingYuan 2nd Zone, A-3-1101, Haidan District, Beijing, China100195 holds 551,936 Common Shares, and 12,600,000 Special Warrants which represents 5.49% of the issued and outstanding Common Shares, and which represents 48.63% of the issued and outstanding Common Shares assuming conversion of all of the Special Warrants.
Each of the Majority Shareholders purchased their shares of UGE, and
The Common Shares held by
UGE is a leading developer of distributed renewable energy solutions for enterprise clients with projects in over 90 countries, including several for Fortune 1,000 companies. Leveraging its proprietary technology platform, UGE deploys modular energy systems that solve clients' challenges at the nexus of cost, resiliency and sustainability. From solar and wind systems, to microgrids and off-grid lighting, UGE is the solution provider of choice for enterprise energy challenges.
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the prospectus, management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
An agreement to sponsor should not be construed as any assurance with respect to the merits of the transaction or the likelihood of completion.
Cautionary Note Regarding Forward Looking Statements
This Press Release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this Press Release. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the ability of the Company to satisfy the requirements of the Exchange with respect to the Qualifying Transaction; the economy generally; consumer interest in the services and products of the resulting issuer; competition; and anticipated and unanticipated costs. While the Company acknowledges that subsequent events and developments may cause its views to change, the Company may specifically disclaim any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this Press Release. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
UGE International Ltd. Mike BarnsleyChief Financial Officer +1 (917) 720-5685 UGE International Ltd. Robin CarolCommunications Manager +1 (917) 720-5685 firstname.lastname@example.org Source: UGE International Ltd.(formerly Way Ventures Inc.)