21 Dec, 23

E-Power Resources Inc. Announces Closing of a Third and Final Tranche of Private Placement

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Montreal, Quebec–(Newsfile Corp. – December 21, 2023) – E-Power Resources Inc (CSE: EPR) (“E-Power” or the “Company“) announces that it has closed a third and final tranche of the private placement previously announced on November 16, 2023 (the “Private Placement“).

An aggregate of 400,247 units (the “ Units“) of the Company were issued in the third and final tranche at a price of $0.06 per Unit for gross proceeds of $24,014.82, each Unit being comprised of one common share in the capital of the Company (each a “Common Share“) and one common share purchase warrant (each a “Warrant“), each Warrant entitling its holder thereof to acquire one additional common share (each a “Warrant Share“) at a price of $0.10 per Warrant Share for a period of 60 months from the closing date. (the “Offering“)

Net proceeds from the Offering will be used by the Company for general working capital purposes. No Insiders of the Company participated in the Private Placement.

The Company paid finders’ fee to Pieter Danielsson, who received a cash commission of $981.04. In addition, he received 16,350 broker warrants, with each broker warrant entitling its holder thereof to purchase one common share of the Company at a price of $0.10 and expiring in 24 months.

The securities offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. The securities offered pursuant to the Offering are subject to certain trade restrictions pursuant to applicable securities laws.