LUXEMBOURG, Feb. 11, 2019 (GLOBE NEWSWIRE) -- DHCT II Luxembourg SARL (“DHCT”), an investment vehicle of Doughty Hanson & Co Technology Ventures, a fund managed by Doughty Hanson & Co Managers Limited, is pleased to announce that on February 7, 2019, it acquired ownership of 434,860, 8%, redeemable, accretive, voting series A first preferred shares (the "Series A First Preferred Shares") of Eguana Technologies Inc. ("Eguana") at C$10 per Series A First Preferred Share and convertible into common shares of Eguana ("Common Shares") at a price of C$0.24 per share, subject to certain adjustments, representing 100% of the presently issued and outstanding Series A First Preferred Shares.
On February 7, 2019, DHCT entered into a subscription agreement with Eguana to purchase 300,000 Series A First Preferred Shares for an aggregate subscription price of $3,000,000. DHCT also converted the existing $1,300,000 loan plus interest accrued thereon into 134,860 Series A First Preferred Shares.
Immediately prior to the acquisition of the Series A First Preferred Shares, DHCT owned (i) 58,018,920 Common Shares representing approximately 26.1% of the issued and outstanding Common Shares, (ii) 1 Series 8 First Preferred Share of Eguana, representing 100% of the issued and outstanding Series 8 First Preferred Shares of Eguana, (iii) 625,000 common share purchase warrants exercisable on or before September 29, 2019 at an exercise price of $0.25 per Common Shares and (iv) 1,238,095 common share purchase warrants exercisable on or before August 22, 2021 at an exercise price of $0.21 per Common Share (items (iii) and (iv) together the “Warrants”).
Following DHCT’s acquisition of the Series A First Preferred Shares, DHCT owns (i) 58,018,920 Common Shares representing approximately 26.1% of the issued and outstanding Common Shares, (ii) 1 Series 8 First Preferred Share of Eguana, representing 100% of the issued and outstanding Series 8 First Preferred Shares of Eguana, (iii) 434,860 Series A First Preferred Shares representing 100% of the presently issued and outstanding Series A First Preferred Shares and (iv) the Warrants.
DHCT has acquired the Series A First Preferred Shares through a private placement with Eguana for investment purposes, and may acquire further Series A First Preferred Shares, or dispose of its holdings of Series A First Preferred Shares, both as investment conditions warrant. Eguana is listed on the TSX Venture Exchange under the symbol “EGT”.
DHCT has its head office at 46a, avenue J.F. Kennedy, Luxembourg, L-1855. For further information please contact Fabrice Mas, Tel: +352 42 71 71 -3153 or Anna Fernoux, Tel: +352 42 71 71 -3445; Fax: +352 42 19 61. Eguana’s head office is located at Unit 3, 6143 4th Street SE, Calgary, Alberta T2H 2H9.