Eguana Technologies Inc.

Eguana Technologies Inc.

June 23, 2016 08:12 ET

Eguana Corrects Minor Tabulation Error in the Interim Financial Statements, Updates Executive Compensation Report

CALGARY, ALBERTA--(Marketwired - June 23, 2016) -


Eguana Technologies Inc. (TSX VENTURE:EGT)(OTCQB:EGTYF) ("Eguana" or the "Corporation") announces that it has refiled its unaudited condensed interim consolidated financial statements for the three month period ended December 31, 2015 and for the six month period ended March 31, 2016 (the "2016 Financials") as a result of a simple tabulation error to remove the duplication of $110,321 in deferred revenue which had been included in the September 2015 comparative column. The changes have no effect on current fiscal year figures and only affect the comparative September 30, 2015 balance sheet figures within the 2016 Financials, making them consistent with the audited accounts as of September 31, 2015, which were accurately presented.

In addition, the Corporation has refiled a restated statement of executive compensation for the year ended September 30, 2015 to include compensation to Ms. Patricia Dahm, past CFO and compensation to Mr. Brent Harris, CTO for the past two fiscal years.

About Eguana Technologies Inc.

Eguana designs and manufactures high performance power controls for residential and commercial energy storage systems. Eguana has more than 15 years' experience delivering grid edge power electronics for fuel cell, photovoltaic and battery applications and delivers proven, durable, high quality solutions from its high capacity manufacturing facilities in Europe and North America.

With thousands of its proprietary energy storage inverters deployed in the European and North American markets, Eguana is the leading supplier of power controls for solar self-consumption, grid services and demand charge applications at the grid edge.

To learn more, visit or follow us on Twitter @EguanaTech

Forward-Looking Information

This press release contains certain statements or disclosures relating to the Corporation that are based on the expectations of the Corporation as well as assumptions made by and information currently available to the Corporation which may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that the Corporation anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking information. The forward-looking statements contained in this press release speak only as of the date of this press release and are expressly qualified by this cautionary statement. Furthermore, the forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Such factors include, but are not limited to general economic conditions in Canada and the United States, industry conditions, changes in laws and regulations and changes in how they are interpreted and enforced, increased competition, volatility of commodity prices, and the inability to satisfy the closing conditions, including receipt of regulatory approval. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on the forward-looking information. Eguana's actual results, performance or achievement could differ materially from those expressed in, or implied by, this forward-looking information. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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