Charbone Hydrogen Corporation has successfully completed the first closing of a $1 million non-brokered private placement, with $700,000 raised to advance its flagship green hydrogen production facility in Quebec. The company announced that the plant is on track to begin operations in the near future, further solidifying Charbone's position as a key player in the green hydrogen industry. The company's CEO and Chairman, Dave Gagnon, expressed confidence in their leadership within the sector and outlined plans to establish a network of 16 modular hydrogen production facilities across North America by 2030. The funds from the initial financing round will be utilized for engineering, construction, equipment procurement at the Sorel-Tracy site, and to prepare for a larger round of financing. Charbone issued 13,100,100 units as part of the offering, each priced at $0.05 and comprising a common share and a purchase warrant. Additionally, Charbone intends to raise an additional $300,000 through a second tranche of the private placement, expected to be completed by December 12, 2024, to further support their expansion plans in the green hydrogen sector.