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TORONTO, ON / ACCESSWIRE / September 27, 2021 / Electrovaya Inc. (“Electrovaya” or the “Company”) (TSX:EFL)(OTCQB:EFLVF), a lithium ion battery manufacturer with industry-leading performance and substantial intellectual property, today announced that it has entered into a securities purchase agreement for a private placement of the Company’s common shares (a “Common Share” and, collectively, the “Common Shares”) and warrants to purchase common shares (“Common Warrants”) to a single institutional investor for aggregate gross proceeds to the Company of approximately C$3.795 million (the “Private Placement”). Pursuant to the Private Placement, the Company will issue up to 2,919,230 Common Shares and Common Warrants to purchase up to 1,459,615 Common Shares at a combined purchase price of C$1.30 per Common Share and associated Common Warrant.
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