Vancouver, British Columbia--(Newsfile Corp. - February 14, 2025) - Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) ("Energy Plug" or the "Company"), is pleased to announce that, further to its press releases dated January 22, 2025 and February 10, 2025, it has closed the second and final tranche of its non-brokered private placement (the "Private Placement"), issuing 333,333 units (each, a "Unit") at a price of $0.15 per Unit for gross proceeds of $50,000. Each unit is comprised of one common share and one common share purchase warrant (the "Warrant") having an exercise price of $0.25 per share and a term of one year from the date of closing of the Private Placement (the "Closing Date"). In total, the Company has raised aggregated gross proceeds of $1,217,999 through the issuance of 8,119,993 Units in the Private Placement.

"We sincerely appreciate the strong investor interest level with the closing of this oversubscribed private placement. This financing brings new participants who offer strategic perspectives and is also a reflection of the work and progress made by the team over the past few months," said Paul Dickson, CEO of Energy Plug Technologies.

The securities issued as part of the Private Placement will be subject to a regulatory hold period of four months plus one day from the date of issue. The Company intends to use the net proceeds raised from the Private Placement for general working capital purposes.

No finder's fees were paid in connection with the final tranche of the Private Placement.

About Energy Plug Technologies Corp.

Energy Plug Technologies Corp. is an energy technology company dedicated to innovation and sustainability. With a focus on energy storage applications for residential, commercial, and utility sectors, the company advances battery technologies to enhance energy management and grid resiliency. Based in British Columbia, Energy Plug partners with leading technology companies and Indigenous communities to deliver solutions. For more information, visit https://energyplug.com.

Cautionary Note Regarding Forward-Looking Information

This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact included herein, including, without limitation, statements relating to future events or achievements of the Company, the timing of closing of the Offering, proceeds received and use of funds of the Offering, are forward-looking statements. There is no assurance that (i) the Company will be able to complete the Offering on the terms set out above, or at all, or (ii) that the proceeds of the Offering will be expended as contemplated. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these matters. Energy Plug does not assume any obligation to update the forward-looking statements should they change, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241034