SEOUL, SOUTH KOREA and TORONTO, ONTARIO--(Marketwired - April 30, 2014) - Nesscap Energy Inc. ("Nesscap") (TSX VENTURE:NCE), a global leader in research, development and manufacturing of ultracapacitor products, announces that it has engaged Marathon Capital, LLC as exclusive advisor in connection with a proposed equity financing. The financing will be made on a best efforts fully marketed private placement basis with the final terms and timeline of same to be determined in the context of the market and announced at a later date.
"We are very pleased to be partnering with Marathon Capital as we seek to raise the funds needed to execute our business plan and accelerate Nesscap's growth," said Jim Zuidema, Acting Chief Executive Officer of Nesscap Energy Inc. "Marathon has an impressive track record in the power and renewables sectors and I look forward to collaborating with them closely over the coming months."
"There are a number of favorable trends driving the rapid growth of the ultracapacitor market. Nesscap is very well positioned to expand its market position given its experienced team and superior product performance," said Terry Grant, Managing Director of Marathon Capital.
As previously announced, on March 19, 2014, I2BF Energy Inc. (I2BF) and Arbat Capital Group Ltd. (Arbat) have agreed to participate as lead investors in the proposed equity financing, with a minimum subscription amount of US $10,000,000.
Nesscap also announces that Mr. George Kreigler III has been appointed as a Senior Advisor to its Board of Directors with a specific mandate to advise on corporate strategy and business development as well as to support Nesscap's fundraising efforts.
George Kreigler III was, until April 2012, Chief Operating Officer of Maxwell Technologies, a firm that develops, manufactures and markets energy storage and power delivery products for transportation, industrial, telecommunications and other applications and microelectronic products for space and satellite applications. Previously, Mr. Kreigler held a number of roles at Maxwell, including Senior Vice President of Operations, and Vice President of Operations. He has more than 30 years of high technology operations management experience, including supervision of multiple large-scale offshore manufacturing facilities. Prior to Maxwell, Mr. Kreigler served as a Senior Vice President and General Manager of Storage Systems at Quantum Corp, a manufacturer of tape drive, tape automation, data deduplication storage products and scalable file storage software. Prior to this, he served as a Senior Vice President and General Manager of DLTtape at Quantum Corp.
"We are excited to welcome George to the Nesscap team," said Jim Zuidema. "George's knowledge, experience, and skillset will be a tremendous asset as we continue to develop and implement our growth strategies."
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 include transportation, power, and consumer markets. Technical and sales information can be found at www.nesscap.com.
About Marathon Capital
Marathon Capital is a leading financial advisory and investment banking firm focused on providing financial advice in the areas of M&A, capital raising of debt and equity, project finance, tax equity, financial restructuring, recapitalization, bankruptcy and workout situations in the global energy and infrastructure markets. Marathon Capital was recently awarded "Best Renewable Asset M&A Advisor" in Power Finance & Risk's 10th Annual Power Finance Deals and Firms Awards in 2013.
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.
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.