Business
Electrovaya Announces Increase in Credit Facility to C$16 million
TORONTO, ON / ACCESSWIRE / July 21, 2022 / Electrovaya Inc. ("Electrovaya" or the "Compa...
About this update from Electrovaya Inc.
[{"type":"text","content":"Electrovaya Announces Increase in Credit Facility to C$16 millionTORONTO, ON / ACCESSWIRE / July 21, 2022 / Electrovaya Inc. (\"Electrovaya\" or the \"Company\") (TSX:EFL)(OTCQB:EFLVF), a lithium ion battery technology and manufacturing company, today announced that its credit facility has been increased from C$14 million to C$16 million to support its sales growth. As consideration for these amendments, Electrovaya has paid a fee of C$50,000, paid in shares to the financial institution.\"We are very pleased with the essentially non-dilutive support our lender has provided to us,\" said John Gibson, CFO of Electrovaya. \"We believe the increased support from the revolving credit facility will assist us with our continued growth and in meeting the existing purchase order backlog.\"For more information, please contact:Investor and Media Contact:Jason RoyElectrovaya Inc.Telephone: 905-855-4618Email: [email protected] Electrovaya Inc.Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. Electrovaya is a technology-focused company with extensive IP, designs, develops, and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.Forward-Looking StatementsThis press release contains forward-looking statements relating to the deployment of the Company's products by the Company's customers and the timing for delivery thereof, and can generally be identified by the use of words such as \"may\", \"will\", \"could\", \"should\", \"would\", \"likely\", \"possible\", \"expect\", \"intend\", \"estimate\", \"anticipate\", \"believe\", \"plan\", \"objective\" and \"continue\" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors and assumptions are ...