ZENN Motor Company Inc.

ZENN Motor Company Inc.

December 22, 2014 17:57 ET

ZENN Motor Company Grants Options

TORONTO, ONTARIO--(Marketwired - Dec. 22, 2014) - ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company"), today announced that it has granted options to acquire an aggregate of 856,000 common shares to officers, directors and employees of the Company under ZENN's stock option plan. Each option is exercisable to acquire one common share at a price of $0.57; 400,000 options vest equally over a twelve month period and 456,000 vest equally over an eighteen month period. These options will expire five years from the date of grant and are subject to approval by the TSX Venture Exchange.

About ZENN Motor Company Inc.

ZENN's mission is to be the provider of leading edge energy storage solutions and related technologies. The Company operates on the principle and belief that a fundamental breakthrough in energy storage will be the catalyst for positive environmental and economic change globally. The Company's current business strategy is focused on licensing and partnership opportunities across a broad spectrum of industries and applications building on its recent technology achievements in the capacitor industry.

The Company holds an approximate 71.3% equity and voting interest and certain technology rights to a solid-state capacitor and related energy storage technologies currently under development by EEStor, Inc. ("EEStor"). The acquisition of the controlling interest in EEStor aligns the businesses of both companies and now allows ZENN to benefit from other revenue streams that should be available to EEStor, including applications throughout the capacitor industry and not limited to high density energy storage applications.

EEStor's capacitor and energy storage technology is still under development and a number of further development milestones must be achieved before commercial viability can be fully established. There are significant risks associated with the development of new technologies such as EEStor's capacitor and energy storage technology and readers are directed to the "Risk Factors" disclosed in ZENN's most recent Annual Information Form filed on SEDAR.

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.

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