ZBB Energy Signs Definitive Agreement to Raise $2.3 Million in Registered Direct Offering

BB Energy Corporation ZBB today announced that it has entered into a securities purchase agreement for a registered direct offering with several investors to sell a total of 2,780,439 shares of common stock, for gross proceeds of $2,279,960 before deducting placement agent fees and estimated offering expenses. The shares will be sold for a per share purchase price of $0.82. MDB Capital Group, LLC acted as the placement agent for this offering. ZBB also entered into stock purchase agreements with certain members of its board of directors, officers and advisors providing for the sale of a total of $247,500 of shares of common stock for a price per share equal to $0.92 which was the closing price of the Company's common stock on June 13, 2011 (the "Private Placement Transaction"). Eric Apfelbach, Chief Executive Officer of ZBB Energy Corporation, commented, "This financing not only strengthens our balance sheet, but also continues to demonstrate our ability to attract fundamental investors and raise money with attractive terms. The broad participation from Directors and Management is a reflection of the belief in the mission."