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InvestmentPitch Media Video Discusses EEStor Corporation's LOI to Acquire FWG Ltd. and New Non-Brokered Private Placement - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2019) - EEStor Corporation (TSXV: ...
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[{"type":"text","content":"InvestmentPitch Media Video Discusses EEStor Corporation's LOI to Acquire FWG Ltd. and New Non-Brokered Private Placement - Video Available on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - November 15, 2019) - EEStor Corporation (TSXV: ESU) has signed a letter of intent to acquire the outstanding share capital of FWG Ltd. EEStor, a developer of high energy density solid-state capacitor technology utilizing the company's patented Composition Modified Barium Titanate (CMBT) material, is focused on licensing its technology across a broad spectrum of industries and applications.For more information, please view the InvestmentPitch Media \"video\" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"EEStor\" in the search box. Cannot view this video? Visit:http://www.investmentpitch.com/Based in Canterbury, UK, FWG (www.FWGltd.co.uk) is involved in research and development and commercial activities related to capacitor, battery and hybrid electrical energy storage devices, including carbon and graphene-based technologies. Future integration of EEStor's patented CMBT materials and FWG's proprietary technologies using graphene and carbon-based materials potentially offers significant commercialization opportunities for the combined company. Robert Murray-Smith, Co-Founder and CEO of FWG, stated: \"The team at FWG is excited by this transaction and the multitude of opportunities that the combined enterprise addresses. From the immediate replacement technology of antiquated lead acid batteries to the near-endless requirements for sustainable and scalable grid storage applications, we have spent the last six years refining our solutions to meet global demand.\"EEStor anticipates issuing 46,750,000 common shares to the shareholders of FWG, with FWG continuing as a wholly owned subsidiary of EEStor. These shares will represent 25% of the outstanding share capital of EEStor following completion of the acquisition, which is subject to customary due diligence and approvals. Independent third-party certification is scheduled with both the National Physical Laboratory of Great Britain and with Intertek Inc. to ensure that the performance characteristics of the technology are fully validated and disclosed.Ian Clifford, Founder ...