Hypercharge Signs Exclusivity Agreement with Dawson + Sawyer for EV Charging at Two Developments in Surrey, BC

Rhea-AI Summary

Hypercharge Networks Corp. (TSXV: HC) (OTC: HCNWF) has signed a Master Pipeline Agreement with Dawson & Sawyer Developments , effective September 10, 2024. The agreement makes Hypercharge the exclusive EV charging provider for two Dawson + Sawyer developments in Surrey, BC: Fleetwood Village and Guildford the Greatest.

Key points:

• Initial delivery of 14 Level 2 EV charging stations to Fleetwood Village's Building 1 in October 2024
• Progressive delivery of chargers for Buildings 2-7 through 2026
• Guildford the Greatest to receive Level 2 charging stations through 2027

The company also clarified its warrant repricing terms: if the closing price of Hypercharge's common shares on the TSX Venture Exchange exceeds $0.15 for ten consecutive trading days, the warrant expiration date will be reduced to 30 days.

Positive

• Secured exclusive EV charging provider status for two new developments
• Scheduled delivery of Level 2 EV charging stations starting October 2024
• Expansion of Hypercharge's presence in the Surrey, BC market

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - September 24, 2024) - Hypercharge Networks Corp. (TSXV: HC) (OTC: HCNWF) (FSE: PB7) (the "Company" or "Hypercharge"), a leading, smart electric vehicle (EV) charging solutions provider and network operator, is pleased to announce the signing of a Master Pipeline Agreement effective September 10, 2024 (the "Agreement") with Dawson & Sawyer Developments Ltd. ("Dawson + Sawyer"). Pursuant to the terms and subject to the conditions of the Agreement, Hypercharge has agreed to be the exclusive EV charging provider for two of Dawson + Sawyer's developments currently under construction in Surrey, BC: the master-planned community of Fleetwood Village, and the condominium development of Guildford the Greatest. Delivery of Level 2 EV charging stations is scheduled to commence in October 2024.

Dawson + Sawyer is a real estate developer with over 50 years of experience, focused on creating well-designed communities across British Columbia. Their homes are known for spacious interiors and practical layouts, designed to meet the needs of modern families. With a focus on quality materials and craftsmanship, Dawson + Sawyer has built over 2,000 homes and developed over 175 acres of land.

"Helping new Dawson + Sawyer homeowners switch to electric vehicles is key to making our communities greener," said Chris Koch, Head of Growth & Partnerships at Hypercharge. "This agreement with Dawson + Sawyer enables Hypercharge to bring EV charging to two new communities, making the transition to sustainable transportation seamless and accessible for residents in these developments."

Under the terms of the Agreement, Hypercharge will initially supply 14 Level 2 EV charging stations to Building 1 of Fleetwood Village in October 2024. Chargers for Buildings 2 through 7 are expected to be delivered progressively through 2026. Level 2 charging stations for Guildford the Greatest are expected to be delivered through 2027.

Warrant Repricing Clarity

Further to the Company's news release dated September 4, 2024 with respect to, among other things, the Company's warrant repricing, the Company wishes to clarify the acceleration terms applicable to the warrants. If the closing price of the Company's common shares listed for trading on the TSX Venture Exchange exceeds $0.15 for any ten consecutive trading days, the warrant expiration date will be reduced to 30 days.

About Hypercharge

Hypercharge Networks Corp. (TSXV: HC) (OTC: HCNWF) (FSE: PB7) is a leading provider of smart electric vehicle (EV) charging solutions for residential and commercial buildings, fleet operations, and other rapidly growing sectors. Driven by its mission to accelerate EV adoption and enable the shift towards a carbon neutral economy, Hypercharge is committed to offering seamless, simple solutions including industry-leading hardware, innovative and integrated software, and comprehensive services, backed by a robust network of public and private charging stations. Learn more: https://hypercharge.com/.

On behalf of the Company,

Hypercharge Networks Corp.
David Bibby, President & CEO

Contacts

Investor Relations:
Chris Tyson | Executive Vice President | MZ Group
invest@hypercharge.com | (949) 491-8235

Media Contact:
Kyle Kingsnorth | Head of Marketing | Hypercharge
kyle.kingsnorth@hypercharge.com

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements regarding contractual performance of the Agreement and the expected timing, delivery and installation of EV charging stations. Forward-looking statements are often identified by terms such as "may", "could", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions which are intended to identify forward-looking statements. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224328

FAQ

What is the significance of Hypercharge's agreement with Dawson + Sawyer for HCNWF stock?

The agreement makes Hypercharge the exclusive EV charging provider for two Dawson + Sawyer developments in Surrey, BC, potentially increasing HCNWF's market share and revenue streams in the area.

When will Hypercharge (HCNWF) begin delivering EV charging stations to Fleetwood Village?

Hypercharge is scheduled to deliver the first 14 Level 2 EV charging stations to Building 1 of Fleetwood Village in October 2024.

What are the new warrant repricing terms for Hypercharge Networks Corp. (HCNWF)?

If Hypercharge's common shares closing price on the TSX Venture Exchange exceeds $0.15 for ten consecutive trading days, the warrant expiration date will be reduced to 30 days.

How many EV charging stations will Hypercharge (HCNWF) supply to Dawson + Sawyer's developments?

The exact total is not specified, but 14 Level 2 EV charging stations will be initially supplied to Fleetwood Village's Building 1, with more to be delivered to other buildings through 2026 and 2027.