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TORONTO, ON / ACCESSWIRE / October 1, 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 closed its previously announced private placement of common shares (a “Common Share” and, collectively, the “Common Shares”) and warrants to purchase common shares (“CommonWarrants”) 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 has issued 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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