Provaris Energy Ltd, listed on ASX (PV1) and OTC (GBBLF), has successfully secured A$1 million in funding through a share purchase plan (SPP) and underwritten shortfall shares. The company plans to utilize the additional funds for commercial activities and the development of compressed hydrogen supply chain projects in Europe. Concurrently, Provaris Energy is working on completing its proprietary Prototype Tank program in Norway. The final applications for the share purchase plan totalled $724,500, of which $275,500 was placed under an underwriting agreement with five existing shareholders. The company's chair, Greg Martin, expressed gratitude to all shareholders who participated in the SPP and thanked the underwriters, who are long-term material shareholders, for their continuous support. Participants in the SPP, including underwriters, will receive 1 free attaching option for every three shares subscribed for. These options have an exercise price of $0.075 and a two-year expiry date. The issuance of shares and options will occur immediately, with quotation to commence the following day, on Friday, July 12, 2024.