Alkaline Fuel Cell Power Corp. Announces Filing and Mailing

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TORONTO, Sept. 26, 2022 (GLOBE NEWSWIRE) — Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (“AFCP” or the “Company”), a diversified funding platform creating reasonably priced, renewable, and dependable vitality belongings and cleantech, is happy to announce the SEDAR submitting and bodily mailing of a administration data round dated September 26, 2022 (the “Circular”) and associated assembly and proxy supplies in reference to its upcoming particular assembly of shareholders to be held on October 17, 2022 (the “Special Meeting”).

At the Special Meeting, AFCP will search shareholder approval to amend the train value of sure excellent widespread share buy warrants (the “Warrants”) of the Company from between $0.75 and $0.33 (which is considerably above present buying and selling costs for the widespread shares of the Company (the “Common Shares”) to $0.20 (the “Warrant Amendments”). In accordance with the polices of the NEO Exchange (the “NEO”), these holders of Warrants who’re advantaged by the proposed Warrant Amendments will probably be excluded from voting on the Warrant Amendments. The particulars of the Warrant Amendments are additional disclosed within the Circular.

Additionally, on the Special Meeting, AFCP will search shareholder approval to amend the train value of sure excellent inventory choices of the Company (the “Options”) from between $0.33 and $0.25 (which is considerably above present buying and selling value for the Common Shares) to $0.15 (the “Option Amendments”). In accordance with the insurance policies of the NEO, these holders of Options who’re advantaged by the proposed Option Amendments will probably be excluded from voting on the Option Amendments. The particulars of the Option Amendments are additional disclosed within the Circular.

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“Since joining AFCP in May of this year, we have focused on the continued advancement of our hydrogen powered alkaline fuel cell technology, while also seeking to accelerate revenue generation with the acquisition of complementary business lines, including our combined heat and power (“CHP”) PWWR Flow Stream business, which affords decrease prices for in multi-residential or business purposes,” stated Frank Carnevale, CEO of AFCP. “With the ongoing developments and continued evolution of the Company, we are grateful for the support of our shareholders and are seeking approval to reprice certain outstanding equity instruments to better align with current market conditions and afford AFCP an incremental source of future financing. We encourage all shareholders to vote on the resolution at our upcoming meeting on October 17, 2022.”

The proposed Warrant Amendments and Option Amendments won’t be efficient till receipt of the requisite shareholder approval is acquired, and sure regulatory and NEO filings are accomplished.

ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR)

AFCP is a diversified funding platform creating reasonably priced, renewable, and dependable vitality belongings and cleantech. We deliver ‘Power to the People’ right now, combining a secure income stream with a future-forward imaginative and prescient to commercialize our superior hydrogen gas cell expertise to fulfill the huge world market want, and in the end generate compelling returns for buyers.

AFCP operates via two world entities: Fuel Cell Power NV, a completely owned subsidiary in Belgium, and PWWR Flow Streams (“PWWR Flow”), an AFCP model in Canada.

  • Fuel Cell Power NV is concentrated on the event, manufacturing and commercialization of micro-combined warmth and energy (“micro-CHP”) programs and off-grid and back-up energy mills primarily based on superior alkaline gas cell expertise that generates zero CO2 emissions. Fuel Cell Power NV is working via milestones to ship a commercialized alkaline gas cell in 2024.
  • PWWR Flow is concentrated on the event, possession and operations of mixed warmth and energy (“CHP”) belongings. PWWR Flow belongings ship effectivity enhancements of over 20% with diminished prices to clients in multi-residential and business purposes. PWWR Flow has contracted present CHP belongings in Toronto, Canada, and has an extra pipeline of potential contracts valued at over $50 million presently in improvement.
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AFCP is properly positioned to ship ‘Power to the People’ within the world vitality transition whereas providing a diversified cleantech progress platform for buyers.

Further data is accessible on the Company web site at https://www.fuelcellpower.com/, and the Company encourages buyers and different stakeholders to observe it on:

LinkedIn, Twitter, Facebook, Instagram and YouTube. Common shares are listed for buying and selling on the NEO underneath the image “PWWR”, the OTC Venture Exchange “OTCQB” underneath the image “ALKFF” and on the Frankfurt Exchange underneath image “77R” and “WKN A3CTYF”.

For additional data, please contact:

Frank Carnevale
Chief Executive Officer
+1 (647) 531-8264
fcarnevale@fuelcellpower.com

Forward-Looking Information

This information launch comprises forward-looking statements and forward-looking data throughout the which means of relevant securities legal guidelines. These statements relate to future occasions or future efficiency. All statements different than statements of historic truth might be forward-looking statements or data. In sure circumstances, forward-looking statements can be recognized by the use of phrases such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “may”, “could”, “would”, “might”, “occur” or “achieve”. Forward-looking statements on this information launch might embrace, however are usually not restricted to, the Warrant Amendments and timelines related therewith, the Option Amendments and timelines related therewith, the Special Meeting, statements with respect to the Company’s expertise, mental property, business plan, aims and technique.

Forward-looking statements and data are supplied for the objective of offering data in regards to the present expectations and plans of administration of the Company referring to the longer term. Readers are cautioned that reliance on such statements and data might not be applicable for different functions, akin to making funding choices. Since forward-looking statements and data handle future occasions and situations, by their very nature they contain inherent dangers and uncertainties. Actual outcomes may differ materially from these presently anticipated due to a variety of elements and dangers. Accordingly, readers ought to not place undue reliance on the forward-looking statements and data contained on this information launch. Readers are cautioned that the foregoing listing of things is just not exhaustive. The forward-looking statements and data contained in this information launch are made as of the date hereof and no enterprise is given to replace publicly or revise any forward-looking statements or data, whether or not as a consequence of new data, future occasions or in any other case, except so required by relevant securities legal guidelines. The forward-looking statements or data contained on this information launch are expressly certified by this cautionary assertion.

NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 

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