UGE International Ltd.
TSX VENTURE : UG
OTCQB : UGEIF

May 25, 2016 17:00 ET

UGE Announces Filing of Short Form Prospectus for Agency Offering

TORONTO, ONTARIO--(Marketwired - May 25, 2016) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

UGE International Ltd. (the "Company" or "UGE") (www.ugei.com) (TSX VENTURE:UG)(OTCQB:UGEIF), a global leader in distributed renewable energy solutions, is pleased to announce that it has filed its short form prospectus (the "Final Prospectus") with the securities regulatory authorities in the provinces of Ontario, British Columbia and Alberta.

The Final Prospectus has been filed in connection with UGE's public offering (the "Offering") of units ("Units"), on a best-efforts basis, at a price of $0.38 per Unit (the "Offering Price"), for aggregate gross proceeds of a minimum of $1,500,000 and a maximum of $2,500,000. Each Unit shall consist of one common share of the Company (each, a "Common Share") and one half of a common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant may be exercised for one Common Share at an exercise price of $0.48 per share for a period of 24 months from the date of issuance. The Agents (as defined below) shall also have the option (the "Over-Allotment Option") exercisable in whole or in part at any time in the 30 days following the closing date of the Offering to acquire up to additional 986,842 Units for up to an additional $375,000. Net proceeds of the Offering will be used to fund the Company's ongoing development activities, including growth opportunities in key markets, as well as to maintain financial strength and flexibility going forward as more fully described in the Final Prospectus.

UGE also announces it has entered into an agency agreement (the "Agency Agreement") with Haywood Securities Inc. (the "Lead Agent") in respect of the Offering. The Offering is being made through a syndicate led by the Lead Agent and including Canaccord Genuity Corp. (together, the "Agents").

UGE has obtained a receipt for the Final Prospectus from the Ontario Securities Commission.

The securities offered pursuant to the Offering have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold, directly or indirectly, within the United States (as defined in Regulation S under the U.S. Securities Act) other than pursuant to an available exemption from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company within the United States.

About UGE

UGE delivers immediate savings to businesses through cleaner electricity. We help commercial and industrial clients become more competitive through the low cost of distributed renewable energy. With over 300 MW of experience globally, we work daily to power a more sustainable world. Visit us at www.ugei.com.

Neither 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.
Statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in its target markets, the demand for UGE's products and the availability of funding. These forward-looking statements are made as of the date hereof and UGE does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from UGE's expectations and projections.

Contact Information

  • UGE International Ltd.
    Ashley Fallon
    Communications Manager
    press@ugei.com
    (917) 338-1668