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Deal snapshot: HYDROGEN ENGINE CENTER COMPLETES FINANCE RELATED TO TINA ACQUISITION.

MANews-(C)2009-2016

US-based alternative-fueled engine specialist Hydrogen Engine Center, Inc. (OTC: HYEG) has completed another phase of financing with TINA Energy Systems, the company said.

In November 2014, DEC announced an agreed deal to buy TINA, with the goal of producing an integrated hydrogen-energy system designed for electrical production. Effective 5 April 2016, HEC has issued 2,930,232 shares to TINA upon TINA's cashless exercise of a warrant to purchase up to 7m shares at USD 0.15 per share.

Country: USA

Sector: Alternative Energy

Target: TINA Energy Systems

Buyer: Hydrogen Engine Center

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing: Stock

Status: Agreed

Buyer advisor: , ,

Comment: Hydrogen Engine Center progresses with financing

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Publication:M & A Navigator
Date:May 18, 2016
Words:116
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