Hybrid Power Solutions Announces Up to $600,000 Offering of Units

Vancouver, British Columbia, Canada – June 19, 2024. Hybrid Power Solutions Inc. (CSE: HPSS) (OTCQB: HPSIF) (FSE: E092) (“Hybrid” or the “Company”) is pleased to announce a non-brokered prospectus financing of units (the “Units”) consisting of up to 3,000,000 Units at $0.20 per Unit for gross proceeds of up to $600,000 (the “Offering”). Each Unit will be comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant of the Company (a “Warrant”).  Each Warrant will entitle the holder to acquire one Common Share (a “Warrant Share”) at an exercise price of $0.25 per Warrant Share for a period of 24 months from closing of the Offering, subject to acceleration.

The acceleration clause of the Warrants will provide that if the volume weighted average price of the Common Shares on the Canadian Securities Exchange (“CSE”) (or such other stock exchange where the majority of the trading volume occurs) exceeds $0.35 for a period of five consecutive trading days between the closing date of the Offering and the expiry of the Warrants, then the Company may at any time, in its discretion, accelerate the expiry date of the Warrants by providing written notice to the Warrant holders via news release. If the Company provides such acceleration notice, then any unexercised Warrants will expire on the 30th day after the date on which the news release is disseminated.

The Offering will be subscribed to by ‘accredited investors’ under applicable securities laws, and the Company will be entering into formal subscription agreements with each investor to purchase the Units.

The Company may pay finders’ fees to eligible finders in accordance with applicable securities laws and the policies of the CSE. The Company intends to use the proceeds from the Offering for general working capital and corporate purposes.

The Units will be qualified under a shelf prospectus supplement (the “Prospectus Supplement”) to be filed with the securities commissions in British Columbia, Alberta, Saskatchewan, Ontario, Manitoba, and Newfoundland and Labrador, prior to closing and in accordance with National Instrument 44-101 Short Form Prospectus Distributions and National Instrument 44-102 Shelf Distributions. The Offering will be made only by means of the Prospectus Supplement and the accompanying base shelf prospectus dated March 14, 2024 (the “Shelf Prospectus”). Access to the Prospectus Supplement and the corresponding Shelf Prospectus and any amendment thereto is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. Complete details of the Offering will be set out in the Prospectus Supplement, and when available (within 2 business days from the date hereof), the Prospectus Supplement together with the Shelf Prospectus can be obtained under the Company’s SEDAR+ profile at An electronic or paper copy of the Prospectus Supplement, the corresponding Shelf Prospectus and any amendment to the documents may be obtained, without charge, from the Company by contacting Francois Byrne, CEO of the Company at

The Offering is expected to close on or about July 5, 2024 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals and listings, including fulfilling applicable requirements of the CSE.

The Company also announces that it will not be proceeding with the balance of its previously announced offering of units under the Company’s prospectus supplement dated April 17, 2024, to the Shelf Prospectus, pursuant to which Hybrid raised aggregate proceeds of $541,800. Please see the Company’s news releases dated April 16, 2024 and June 4, 2024 for additional information.

The securities referenced in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws and may not be offered or sold in the United States or to “U.S. persons” (as such term is defined in Regulation S under the U.S. Securities Act) absent such registration or an applicable exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy such securities in any jurisdiction.

For further information, inquiries, or media opportunities, please contact:

On behalf of the company

Francois Byrne
CEO and Director
1 (866) 549-2743

About Hybrid Power Solutions Inc.

Hybrid Power Solutions Inc. is a Canadian clean energy company listed on the Canadian Securities Exchange under the symbol “HPSS”. Hybrid specializes in the development of sustainable energy solutions, offering products that redefine how industries approach access to power and energy storage. With a focus on innovation and environmental responsibility, HPS continues to lead the way in providing scalable, cost effective power solutions.

Forward-Looking Information

Forward Looking Statements Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will”, “expects”, “anticipates” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.