Eguana Announces Partial Revocation Order and Proposed Convertible Debenture Financing
Eguana seeks up to C$500,000 in 12‑month 10% secured convertible debentures to fund overdue filings and pursue full cease trade revocation.
Rhea-AI Summary
Eguana Technologies (EGTYF) received an Alberta Securities Commission partial revocation order on August 27, 2026, allowing a specific financing while a failure-to-file cease trade order remains in effect.
The company plans a non-brokered private placement of 10% subordinated secured convertible debentures in C$1,000 units for up to C$500,000 of gross proceeds. The debentures mature in 12 months and are convertible at C$0.15 per share only after full or further partial revocation of the cease trade order and TSXV acceptance. Proceeds are intended to fund completion of outstanding financial filings, related professional fees, and general working capital, with closing expected on or about September 22, 2026, subject to regulatory and creditor approvals.
Positive
- ASC partial revocation permits a targeted financing despite the existing cease trade order
- Proposed 10% secured convertible debenture financing of up to C$500,000
- Conversion price set at C$0.15 per share after cease trade relief and TSXV approval
- Proceeds earmarked to complete outstanding financial filings and related regulatory costs
Negative
- Failure-to-file cease trade order from May 6, 2026 remains in effect
- Company has not yet filed 2025 annual and Q1 2026 interim financial statements and MD&A
- Debentures are subordinated and rank behind obligations to certain secured creditors
- Financing and conversion remain subject to TSXV acceptance and creditor consents, adding execution risk
AI-generated analysis. How Rhea-AI works. Not financial advice.
Calgary, Alberta--(Newsfile Corp. - September 21, 2026) - Eguana Technologies Inc. (TSXV: EGT) ("Eguana" or the "Company") announces that the Alberta Securities Commission (the "ASC") has issued an order dated August 27, 2026 (the "Partial Revocation Order") partially revoking the failure-to-file cease trade order that they had previously issued against the Company on May 6, 2026 (the "FFCTO") to permit the Company to complete the non-brokered private placement described below. The FFCTO was issued as a result of the Company's failure to file its annual audited financial statements, annual management and discussion analysis, and certification of annual filings for the year ended December 31, 2025, and its interim financial statements, interim management's discussion and analysis and certifications for the three months ended 31 March 2026 (the "Outstanding Filings").
Proposed financing
Pursuant to the Partial Revocation Order, the Company is proposing to issue
Interest on the debentures will be paid in cash, and the debentures will be secured against the Company's present and after-acquired personal property and will rank behind the secured obligations owed to certain secured creditors, on the terms accepted by the TSXV and the applicable secured creditors.
Other than the Financing, the Partial Revocation Order does not permit any other security-based transactions while the FFCTO remains effective.
Use of proceeds
The Company intends to use the Financing to complete the Outstanding Filings and apply for a full revocation of the FFCTO. The proceeds of the Financing are intended to be allocated towards Audit, accounting, and bookkeeping, legal, regulatory, and filing fees, along with general working capital.
Closing is expected on or about September 22nd, 2026 and remains subject to TSXV acceptance, required creditor consents and intercreditor arrangements, receipt of investor documentation, satisfaction of the Partial Revocation Order and other customary conditions. The securities will be subject to applicable statutory and TSXV hold periods and the FFCTO.
About Eguana Technologies Inc.
Based in Calgary, Alberta Canada, Eguana Technologies Inc. (TSXV: EGT) (OTCQB: EGTYF) designs and manufactures high performance residential and commercial energy storage systems. Eguana has two decades of experience delivering grid edge power electronics for fuel cell, photovoltaic and battery applications, and delivers proven, durable, high-quality solutions from its high-capacity manufacturing facilities in Europe, Australia and North America.
With thousands of its proprietary energy storage inverters deployed in the European and North American markets, Eguana is one of the leading suppliers of power controls for solar self-consumption, grid services and demand charge applications at the grid edge.
Company Inquiries
Eguana Technologies Inc.
Justin Holland
CEO
+1.416.728.7635
Justin.Holland@EguanaTech.com
To learn more, visit www.eguanatech.com or follow us on Twitter @EguanaTech
Forward-looking information
This news release contains forward-looking information, including statements regarding the completion and size of the Financing, the proposed use of proceeds, the completion and timing of the Outstanding Filings, the Company's ability to obtain a full revocation of the FFCTO, the receipt of TSXV acceptance and other required approvals and consents, and the resumption of trading of the Company's securities. Forward-looking information is based on management's current expectations, assumptions and estimates as of the date of this news release.
Forward-looking information is subject to a variety of risks, uncertainties and other factors that could cause actual results or events to differ materially from those expressed or implied by such information. There can be no assurance that the Financing will be completed on the terms contemplated, or at all, that the proceeds of the Financing will be sufficient to complete the Outstanding Filings or obtain a full revocation of the FFCTO, or that any required regulatory, stock exchange, creditor or other approvals and consents will be obtained. The Company undertakes no obligation to update or revise any forward-looking information except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315170
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is the primary intended use of proceeds from Eguana's proposed debenture financing?
The company intends to use the proceeds to complete its outstanding audited annual and interim financial filings, apply for a full revocation of the failure-to-file cease trade order, and cover related audit, accounting, bookkeeping, legal, regulatory, and filing fees, along with general working capital.
When is the proposed debenture financing expected to close and what conditions must be met?
Closing is expected on or about September 22, 2026, subject to TSX Venture Exchange acceptance, required creditor consents and intercreditor arrangements, receipt of investor documentation, satisfaction of the partial revocation order terms, and other customary conditions. The securities will also be subject to applicable statutory and TSXV hold periods and the existing cease trade order.