Vancouver, British Columbia (FSCwire) - Anergy Capital Inc. (TSXV: ACA.H) (the “Company”) is pleased to announce that it has closed its Private Placement in the amount of $200,000.  In addition, Kraken Sonar Systems Inc. (“Kraken”) has closed its convertible bridge loan in the amount of $2,109,500.  See below for details of both financings.

Private Placement

The Company has closed its private placement, previously announced by news release dated September 11, 2014 (the “Private Placement”), for total gross proceeds of $200,000 by the issuance of 4,000,000 units (each a “Unit”) at a price of $0.05 per Unit.  Each Unit is comprised of one common share, one-fourth (1/4) of one Warrant A Warrant (as defined below), and one one-fourth (1/4) of one Warrant B Warrant (as defined below). 

Each full Warrant A warrant (a “Warrant A Warrant”) will entitle the holder to acquire one common share of the Company at a purchase price of $0.06666666 (equivalent to $0.15 after adjusting for the Consolidation (as defined below)), expiring twenty-four (24) months after the date of issue, provided that where the volume weighted average price of the shares of the Company trade at or above $0.20 (equivalent to $0.45 after adjusting for the Consolidation) for twenty (20) consecutive trading days, the term of the Warrant A Warrants shall expire 30 days following the date of issue of a press release announcing such occurrence.

Each full Warrant B warrant (a “Warrant B Warrant”) will entitle the holder to acquire one common share of the Company at a purchase price of $0.17777777 (equivalent to $0.40 after adjusting for the Consolidation), expiring twenty-four (24) months after the date of issue, provided that where the volume weighted average price of the shares of the Company trades at or above $0.26666666 (equivalent to $0.60 after adjusting for the Consolidation) for twenty (20) consecutive trading days, the term of the Warrant B Warrants shall expire 30 days following the date of issue of a press release announcing such occurrence. 

The Company paid a cash finder’s fee of $5,295 to Global Securities Corporation in connection with a portion of the Private Placement.

All the securities issued under the Private Placement are subject to a four month and a day hold period under applicable securities legislation.

The proceeds of the Private Placement will be used by the Company for general working capital. 

Convertible Bridge Loan

Kraken has closed its convertible bridge loan (the “Bridge Loan”), as announced and described by the Company in its news release dated September 11, 2014, for total gross proceeds of $2,109,500.

The proceeds of the Bridge Loan will be used by Kraken for general working capital.  As described in the Company’s news release, it is anticipated that all of the Bridge Loan will be converted into units (each comprised of one common share of the Company and one warrant) upon the closing of the Company’s proposed qualifying transaction with Kraken (the “Qualifying Transaction”) after the Consolidation, at a conversion price of  $0.15 per unit.

Consolidation

The Company is proposing to consolidate its outstanding securities on the basis of 2.25 pre-consolidated securities for one (1) post-consolidated security (the “Consolidation”), subject to shareholder approval, which the Company will seek at its annual general and special meeting scheduled for November 14, 2014.

Letter of Intent

The letter of intent between the Company and Kraken described in the Company’s news release dated September 11, 2014 has been amended in order to extend the deadline for executing a definitive agreement to October 31, 2014. The definitive agreement has been prepared and is currently being reviewed and finalized by the parties.  It is anticipated that the Qualifying Transaction will be completed as early as December 2014.

On behalf of the Board of Directors

“Harley D. Sinclair”
Harley D. Sinclair, President

For information, please contact Harley Sinclair at Tel: (778) 785-0321.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain “forward-looking information” within the meaning of applicable securities law, including statements regarding the proposed private placement. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements.  The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements.

ANERGY CAPITAL INC.

Suite #600 - 666 Burrard Street
Vancouver, British Columbia
V6C 2X8

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