Charbone Hydrogen Corporation Successfully Closes $1 Million Private Placement
Key Ideas
- Charbone Hydrogen Corporation closed the final tranche of its $1 million private placement, raising an additional $193,000.
- Funds from the placement will be used for engineering, equipment procurement, and project preparation, supporting the company's green hydrogen facility in Sorel-Tracy.
- Charbone's flagship facility in Quebec is set to commence production soon and is part of a larger plan to establish 16 green hydrogen production sites in North America by 2030.
- The share purchase warrants issued in the placement are exercisable at $0.05 for 12 months, offering investors potential future value.
Charbone Hydrogen Corporation, a company listed on the TSX-V and OTCQB, has completed the final tranche of its non-brokered private placement, raising $193,000. Each unit sold in this tranche consisted of one common share and one share purchase warrant exercisable at $0.05 for a year. The funds garnered will be directed towards various purposes including engineering, equipment procurement, and project readiness, as well as for upcoming financing rounds. Specifically, the financing will bolster the ongoing activities at Charbone's primary green hydrogen facility located in Sorel-Tracy, Quebec, with production expected to commence shortly. This facility represents the inaugural step in Charbone's strategic vision to establish a network of 16 green hydrogen production sites throughout North America by 2030. The company emphasized the significance of this milestone in advancing sustainable energy solutions and enhancing its operational footprint in the region.