Hy-Drive Technologies is pleased to announce that the TSX Venture Exchange has approved the elevation of the Company to Tier 1 status from Tier 2.
"The listing elevation of Hy-Drive's publicly traded common shares from Tier 2 to Tier 1 accomplishes an on-going corporate goal raising the public visibility of our company for the benefit of our shareholder's and customers alike. The timing is right and we are pleased to have met the defined listing requirements, thus elevating the company profile and, following good corporate governance practices, in doing things in a timely, logical progressive fashion," stated Tom Brown, President and CEO of Hy-Drive Technologies Ltd. "In addition, this elevated listing will add additional credibility to our Company, thereby enhancing our ability to penetrate larger brand name customers for the sale of our proprietary, patented hydrogen generating system," concluded Mr. Brown.
About Hy-Drive
Hy-Drive is an energy technology firm that has developed a proprietary, patented hydrogen generating system. The Hy-Drive system generates and injects hydrogen gas into a regular internal combustion engine, enhancing the combustion process by allowing fuel to burn more efficiently and completely. In previous extensive customer trials and tests, the Hy-Drive system has demonstrated significant performance enhancements, including reduced emissions, increased torque/horsepower, fuel savings and extended engine life. These benefits, specifically fuel economy and reduced emissions, provide customers with greater productivity overall, as their engines operate more efficiently, with improved cycle times and less carbon build-up. For further information, visit www.hy-drive.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release may constitute forward-looking statements. Such statements reflect Hy-Drive's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Hy-Drive's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including among other things, those which are discussed under the headings "Risk Factors" and elsewhere in documents that Hy-Drive files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Hy-Drive does not intend, and does not assume any obligation, to update these forward-looking statements.
The TSX Venture Exchange has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the
contents of this press release. The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
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For further information: Investor Relations: Glen Akselrod, Bristol Capital Ltd., Tel: (905) 326-1888, glen@bristolir.com or Tom Brown, Hy-Drive Technologies Ltd, Tel: (905) 542-3024, ext. 300, Email: tombrown@hy-drive.com