Remember meForgot password?
    Log in with Twitter
Press Release

Nesscap Announces Debt Financing

SEOUL, SOUTH KOREA and TORONTO, ONTARIO--(Marketwired - Dec. 16, 2015) - Nesscap Energy Inc. (Nesscap) (TSX VENTURE:NCE), a global leader in research, development and manufacturing of ultracapacitor products, announces that, subject to its Board of directors and regulatory approvals, Arbat Capital Group Ltd. (Arbat) has agreed to provide financing to Nesscap in an amount of up to USD 3,000,000 (the Loan) on the following terms: (i) the Loan has a maturity date of June 30, 2017; (ii) an initial tranche of USD $1,000,000 will be made available on or around December 31, 2015 with two additional tranches of up to US $1,000,000 each to be made available after January 31, 2016 as to the first tranche and after March 31, 2016 as to the second tranche, both on terms and conditions to be mutually agreed by Arbat and Nesscap; (iii) the interest rate for the Loan is 10% per annum with such interest to be accrued and payable together with the principal amount on June 30, 2017; (vi) the Loan will be secured by a standard security interest over all tangible and intangible assets and undertakings of Nesscap including, but not limited to, the securities of its subsidiaries; and (v) prepayment of principal and interest, in whole or in part, is permitted at any time without premium or penalty.

Nesscap has agreed, subject to its Board of directors and regulatory approvals, to issue up to 12,743,077 bonus common shares to Arbat in connection with the advance of the Loan. These bonus shares will be issued at a deemed price of CAD 0.065 and will be subject to resale restrictions.

About Nesscap

Since its inception in 1999, Nesscap Energy Inc. has become an award winning global leader in technology innovation and product development of ultracapacitors. Attributes of the ultracapacitor allow for the technology to be used in applications where power, life cycle requirements, or environmental conditions limit the suitability of batteries or capacitors. Nesscap products are available in both cells and modules and are used to enhance the performance of modern applications ranging from portable electronic devices to high performance windmills and high-tech 'green' cars. Nesscap features the widest array of standard commercial products in the market from 3 farads to 6,200 farads with industry recognized alternative organic electrolytes. Customers of the Company are active in the transportation, renewable energy, industrial, and consumer markets. Technical and sales information can be found at

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has in any way approved or disapproved of the contents of this press release.

Forward-Looking Statements

Included in this news release are matters that constitute "forward-looking" information within the meaning of Canadian securities law. Such forward-looking statements may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may" or words of a similar nature. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include among others, regulatory risks, risk inherent in foreign operations, commodity prices and competition. Most of these factors are outside the control of the Company. All subsequent forward-looking statements attributable to the Company or its agents are expressly qualified in their entirety by these cautionary comments. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Nesscap Energy Inc.
Jim Zuidema
Chief Executive Officer (Acting)
Latest News
Top News