Eddy Smart Home Solutions Ltd. Announces Shareholder Meeting Date and Financing Update

Eddy Smart Home Solutions Ltd. (TSXV: EDY) has announced its plans for the upcoming annual general and special meeting scheduled for June 17, 2024. Shareholders will have the opportunity to vote on various important matters, including the election of directors, appointment of auditors, approval of a share consolidation, and the adoption of a new equity incentive plan.

One of the key agenda items at the meeting is the approval of a non-brokered private placement, which could potentially create Mr. Mark Silver as a “control person” of the company. The offering aims to raise up to $8,000,000 through the issuance of post-consolidation common shares at $1.50 per share. Mr. Silver, the CEO and Chairman of Eddy, has committed to subscribing for a minimum of 885,787 shares, with the possibility of subscribing for the remaining balance if other investors do not fully participate.

The proceeds from the offering will be used to repay the company’s existing credit facilities and for general working capital purposes. Additionally, a portion of the debt owed to Shalcor Management Inc., a company controlled by Mr. Silver, will be converted into common shares of the company as part of the offering.

Shareholders of Eddy Smart Home Solutions Ltd. are encouraged to review the meeting materials, which will be available on SEDAR+ on or around May 24, 2024. Detailed instructions on how to vote at the meeting will also be provided to shareholders of record as of April 30, 2024.

Eddy is a leading provider of smart water metering products and monitoring services in North America, helping property owners conserve water usage through innovative technology. For more information on the company and its products, visit www.eddysolutions.com.