|Hydrogenics Reports Filing of Final Shelf Prospectus|
|Mississauga, Ontario, Canada - January 4, 2010 - Hydrogenics Corporation, a leading developer and manufacturer of hydrogen generation and fuel cell products, announced today that it has filed a final short form base shelf prospectus with certain Canadian securities regulatory authorities, and a corresponding registration statement on Form F-3 has been declared effective by the U.S. Securities and Exchange Commission. The shelf prospectus will allow Hydrogenics to offer, from time to time, over a 25-month period up to US$16,000,000 of debt, equity or other securities.
These filings are intended to restore Hydrogenics' flexibility to access the capital markets that was available to Hydrogenics with its prior shelf prospectus and corresponding registration statement on Form F-10, which were withdrawn earlier this year, as disclosed in the management proxy circular dated June 25, 2009 in connection with the previously announced non-dilutive financing transaction involving Algonquin Power Income Fund.
Except as otherwise may be disclosed in a prospectus supplement relating to a particular offering, Hydrogenics currently intends to use the net proceeds received to fund current operations and potential future growth opportunities. Should Hydrogenics offer any securities, it will make a prospectus supplement available that will include the specific terms of the securities being offered.
Hydrogenics is not required to offer or sell all or any portion of the securities in the future and will only do so if market conditions warrant.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Hydrogenics Corporation (www.hydrogenics.com) is a globally recognized developer and provider of hydrogen generation and fuel cell products and services, serving the growing industrial and clean energy markets of today and tomorrow. Based in Mississauga, Ontario, Canada, Hydrogenics has operations in North America and Europe.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements and other statements concerning Hydrogenics objectives and strategies and managements beliefs, plans, estimates and intentions about its achievements, future results, goals, levels of activity, performance, and other future events. Hydrogenics believes the expectations reflected in its forward-looking statements are reasonable, although cannot guarantee achievements, future results, levels of activity, performance, or other future events. These statements are based on the managements current expectations and actual results may differ from these forward-looking statements due to numerous factors. Readers should not place undue reliance on these forward-looking statements. Readers are encouraged to review the section captioned 'Risk Factors' in Hydrogenics regulatory filings with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission, for a more complete discussion of the factors that could affect the foregoing forward-looking statements. Furthermore, the forward-looking statements contained herein are made as of the date of this release, and Hydrogenics undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, unless otherwise required by law. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.
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