Next Hydrogen Solutions Inc, a renowned designer and manufacturer of electrolyzers based in Mississauga, Ontario, has announced a private placement of unsecured convertible debentures totaling up to $3,000,000. The debentures, maturing based on specific conditions, will accrue interest at a rate of 10.0% per annum, payable semi-annually, and offer the option for holders to convert into common shares of the company. The proceeds generated from this offering will primarily support the company's scale-up initiatives and general corporate requirements, aiming to bolster its presence in the electrolyzer sector. The debentures, considered direct and unsecured obligations, will rank equally with other present and future unsecured debts of Next Hydrogen. Notably, this offering is being conducted on a private placement basis in Canada and select offshore jurisdictions. However, the debentures are not qualified for public sale under Canadian securities laws and are not registered under the U.S. Securities Act, prohibiting their offer or sale in the United States without compliance. The completion of this private placement is contingent upon obtaining necessary regulatory approvals, including from the TSX Venture Exchange, with no definitive assurance of finalization. Overall, this development portrays a positive outlook for Next Hydrogen Solutions Inc's growth strategy and financial positioning in the market.