Why doesn't the company put out a news release for this? The company badly needs cash. There will be dilution for us shareholders.

http://www.electrovaya.com/pdf/QR/2014-Q4.pdf

18. Subsequent Event
In November, 2014, the Company entered into an agreement for a private placement on a “best-efforts”basis in accordance with the “accredited investor” exemption found in section 2.3 of National Instrument 45-106, Prospectus and Registration Exemptions. The Board has approved a raise of up to Cdn $3,500,000 or 5,000,000 Units, with each Unit consisting of one common share and one common share purchase warrant. The conditional approval letter from the TSX allows for the closing of the transaction at any time up to February 1, 2015 at a subscription price of Cdn $0.70 per Unit, each Unit consisting of one common shares of the Company and on common share purchase warrant (the "Warrant"), each whole Warrant exercisable for one common share at a price of Cdn $1.05 per share, with a term of 36 months from the closing date. TSX understands that up to an additional 700,000 Units may be issued as broker warrants with the same terms as the Units and Warrants described above. The TSX has confirmed that the controlling shareholder may participate in a share loan and pledge transaction, loaning freely tradable shares to certain subscribers. TSX also further confirms that the controlling shareholder will not be receiving any fees or other consideration in connection with the loan and pledge transaction.
TSX has accepted notice of the proposed private placement, and has conditionally approved for listing up to an additional 10,700,000 common shares issuable thereto. On December 24, 2014, the Company received the first tranche of this financing, totaling $558.