CellCube Energy Announces $2,000,000 Financing

TORONTO,  – CellCube Energy Storage Systems Inc. (“CellCube” or the “Company“) (CSE: CUBE) (OTCQB: CECBF) (Frankfurt: 01X) has officially announced its intention to complete a non-brokered private placement (the “Offering“) of up to 10 million units of the Company at a price of $0.20 per unit for gross proceeds of approximately $2 million. The Company has already received sufficient interest from individuals to complete the $2 million financing.

Each unit is comprised of one common share of the Company (a “Common Share“) and one-half of one common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share of the Company at an exercise price of $0.40 for a period of 36 months from the date of issuance of the Warrant. Subject to customary closing conditions, including Canadian Securities Exchange approval, the Offering is expected to close on or about August 8, 2018.  All securities issued pursuant to the Private Placement will be subject to a four month hold period from the date of issue.

“This financing, together with our working capital and the previously announced tax refund in the approximate amount of $1.67 million, will solidify the Company well into the new year,” commented Mike Neylan, CEO of CellCube.  “With the support of our major shareholders and insiders on this funding, we are confident that these funds will allow us to continue on our path to sustained revenue and cash flow, which we expect will start in the second half of this year, and will negate further dilution,” added Mr. Neylan.

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