EXHIBIT 99.1
MATERIAL CHANGE REPORT
1. | Name and Address of Company |
Ballard Power Systems Inc.
9000 Glenlyon Parkway
Burnaby, British Columbia
V5J 5J8
2. | Date of Material Change |
March 21, 2013. |
3. | News Release |
The news release attached as Schedule "A" hereto was disseminated on March 21, 2013 through Canada Newswire.
4. | Summary of Material Change |
Ballard Power Systems Inc. ("Ballard") announced a public offering (the "Offering") in the U.S. of 7,275,000 units ("Units") at a price of US$1.10 per unit for gross proceeds of approximately US$8,000,000. Each Unit entitles the holder to one common share and one warrant (a "Warrant") to purchase one common share of the company. The Warrants are exercisable immediately upon issuance for a period of five years at an exercise price of US$1.50 per share. Ballard has granted the underwriter a 30-day option to purchase an additional 1,091,250 Units on the same terms and conditions solely to cover over-allotments. On March 20, 2013, Ballard entered into an underwriting agreement with Lazard Capital Markets LLC to sell the Units.
5.1 | Full Description of Material Change |
For full details see a copy of Ballard's news release dated March 21, 2013 attached as Schedule "A" hereto.
5.2 | Disclosure for Restructuring Transactions |
Not Applicable.
6. | Reliance on subseciton 7.1(2) of National Instrument 51-102 |
This report is not being filed on a confidential basis.
7. | Omitted Information |
Not applicable.
8. | Executive Officer |
Kerry Hillier, Corporate Secretary
Telephone: (604) 454-0900
kerry.hillier@ballard.com
9. | Date of Report |
March 25, 2013.
Schedule A
Please see attached.