OTTAWA: Hydrogenics Corporation, a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced that it has successfully completed the closing of its previously announced US$7.5 million loan facility (“the Facility”) with a syndicate of lenders led by Cinnamon Investments Limited, including the issuance to the lenders of 250,000 share purchase warrants. Each warrant is exercisable for one common share of the Company at an exercise price of US$15.00 per common share.
The Company intends to use its net proceeds from the Facility primarily for manufacturing expansion and general corporate purposes.
Origin Merchant Securities Inc. acted as advisors to the Company on the Facility.
