CHARBONE Hydrogen Corporation Extends Private Placement Financing Deadline
Key Ideas
  • CHARBONE Hydrogen Corporation extends the private placement financing deadline for a maximum of US$6 million unsecured convertible debt by 30 days, showing significant interest.
  • The offering includes unsecured convertible notes with a 36-month term and a 12% annual interest rate, aiming to fund modular green hydrogen production facilities across North America.
  • The company aims to produce eco-friendly dihydrogen using renewable energy for various sectors, positioning itself as the only publicly traded pure-play green hydrogen company in North America.
  • Investors have shown interest as the company raised US$1.5M (CA$2.1M) on December 4, 2024, with an additional $133,500 from warrant exercises as of December 30, 2024.
CHARBONE Hydrogen Corporation, based in Brossard, Quebec, has announced an extension of the deadline for its private placement financing round, allowing interested parties more time to participate. The company is seeking to raise a maximum of US$6 million through unsecured convertible debt, with the offering structured as unsecured convertible notes with a 36-month term and a 12% annual interest rate, led by its US banker. This move comes after the company successfully closed US$1.5 million (CA$2.1 million) on December 4, 2024, showcasing strong investor interest in the green hydrogen sector. CHARBONE is dedicated to producing eco-friendly dihydrogen (H2) using renewable energy sources and aims to establish a network of modular green hydrogen production facilities across North America. As the only publicly traded pure-play green hydrogen company in the region, CHARBONE is listed on the TSX Venture Exchange, OTC Markets, and the Frankfurt Stock Exchange. In addition to the private placement extension, the company has received $133,500 from the exercise of warrants as of December 30, 2024, further supporting its financial activities. The announcement emphasizes CHARBONE's commitment to sustainable energy solutions and its strategic vision for contributing to a greener future through hydrogen production. The company's leadership, including Chief Executive Officer Dave B. Gagnon, Chief Operating Officer Daniel Charette, and Chief Financial Officer Benoit Veilleux, play crucial roles in driving CHARBONE's mission forward. The extension of the private placement financing deadline signals a positive outlook for the company's growth and its role in the green hydrogen sector.
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