Nesscap Energy Inc.

Nesscap Energy Inc.

June 30, 2015 16:01 ET

Nesscap Announces New Director and Second Tranche of Bridge Financing

SEOUL, SOUTH KOREA and TORONTO, ONTARIO--(Marketwired - June 30, 2015) - Nesscap Energy Inc. ("Nesscap") (TSX VENTURE:NCE), a global leader in research, development and manufacturing of ultracapacitor products, announces that Mr. Yong J. Jung has been appointed to its Board of directors. Mr. Jung is a senior research engineer with the Venture Business Development Group of Hyundai Motor Company.

Nesscap also announces that Arbat Capital Group Ltd. (Arbat) has provided the second tranche of its previously announced bridge financing in an amount of USD 750,000. Arbat has therefore provided Nesscap with an aggregate amount of USD 1,500,000 (the Loan) on the following terms: (i) the Loan has a maturity date of April 1, 2016; (ii) the interest rate for the Loan is 10% per annum with such interest to be accrued and payable together with the principal amount on April 1, 2016; (iii) the Loan is unsecured and ranks equally with other unsecured creditors of Nesscap; (iv) prepayment of principal and interest, in whole or in part, is permitted at any time without premium or penalty; and (v) outstanding principal and accrued (but unpaid) interest of the loans must be repaid by Nesscap upon completion of an equity financing in a minimum amount of USD 10,000,000.

In connection with the advance of the second tranche of the Loan, Nesscap has issued a further 3,129,250 bonus common shares to Arbat. These bonus shares were issued at a deemed price of CAD 0.06 and are subject to resale restrictions until November 1, 2015.

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 include transportation, power, 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.

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