CHARBONE Hydrogen Corporation Extends Private Placement Financing Deadline
Key Ideas
- CHARBONE Hydrogen Corporation extends private placement financing deadline by 30 days to February 3, 2025, aiming to raise up to US$6 million.
- The company has already closed US$1.5 million (CA$2.1 million) on December 4, 2024, and received an additional $133,500 from warrants exercise.
- CHARBONE focuses on producing eco-friendly dihydrogen (H2) for various sectors using renewable energy sources and aims to create a network of modular green hydrogen production facilities across North America.
- The offering is in the form of an unsecured convertible note with a 36-month term and a 12% annual interest rate, led by its US banker, with the maturity date in December 2027 or convertible earlier.
CHARBONE Hydrogen Corporation, based in Brossard, Quebec, has announced a 30-day extension until February 3, 2025, for the private placement financing of up to US$6 million unsecured convertible debt, subject to Exchange approval. The company, identified as North America's only publicly traded pure-play green hydrogen company, has shown strong interest in the raise after closing US$1.5 million (CA$2.1 million) on December 4, 2024. The extension was made to accommodate interested parties during the holiday season.
In addition to the financing extension, CHARBONE has already received $133,500 from exercises of warrants as of December 30, 2024. The company's focus lies in creating a network of modular green hydrogen production facilities across North America using renewable energy sources. They aim to produce eco-friendly dihydrogen (H2) for industrial, institutional, commercial, and future mobility users.
The offering for the private placement is structured as an unsecured convertible note with a 36-month term and a 12% annual interest rate. This initiative is led by CHARBONE's US banker and will mature in December 2027, or be convertible earlier.
CHARBONE Hydrogen Corporation is the only publicly traded pure-play green hydrogen company in North America, with shares listed on the TSX Venture Exchange, OTC Markets, and Frankfurt Stock Exchange. Their projects and initiatives can be further explored on their website.