Burlington, Ontario, Canada, March 12, 2021 – – Hydro Power Technologies, Inc., (OTC Pink: PYBX) (the “Company” or “HPT”) announced today that the Financial Industry Regulatory Authority, Inc. (“FINRA”) has announced the Company’s name change to “Hydro Power Technologies, Inc.” (from Playbox(US), Inc.). These corporate actions will be effective as of the open of trading on March 12, 2021. The new CUSIP number for the common stock will be 44882R101.
Commenting on the actions, Michael Shamber, Chief Executive Officer of the Company, stated:
“These changes represent a deliberate and strategic rebranding effort. We are excited to now be operating under a name that is reflective of our core business. The Company has a number of strategic actions which have been on hold pending the name change and we are excited to execute these over the near term.”
Forward Looking Statements
This press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, references to novel technologies and methods; our business and product development plans; or market information. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, our ability to raise the additional funding we will need to continue to pursue our business plan and product development plans; the inherent uncertainties associated with developing new products or technologies and operating as a development stage company; our ability to develop, complete clinical trials and obtain approvals for the commercialization of any of our product candidates; competition in the industry in which we operate and market conditions. These forward-looking statements are made as of the date of this press release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. The Company does not undertake any obligation to publicly update any forward-looking statement. The Company is not subject to the reporting requirements of the Securities and Exchange Commission under the Securities and Exchange Act of 1934 as amended.
Hydro Power Technologies, Inc.