Charbone Hydrogen Poised to Lead Green Hydrogen Revolution in North America

Charbone Hydrogen Corporation, a leading North American green hydrogen company, is on the brink of a significant milestone. The company has secured $0.7 million in a private placement to accelerate the completion of its flagship green hydrogen production facility in Sorel-Tracy, Quebec. This facility is set to commence operations within the next few weeks.

The company has raised $0.7 million so far through a private equity offering with a target of $1 million. They've sold 13,100,100 units, each costing $0.05 and including one common share and one warrant to buy another share. They aim to raise an additional $300,000 by December 12, 2024.

The company sold units for $0.05 each. Each unit included one common share and one warrant to buy another share at $0.05 within a year. They paid a $17,350 fee and issued 347,000 warrants to dealers who helped them sell the units. The sale was made under specific exemptions for accredited investors. However, the company can reject subscriptions smaller than $5,000 to reduce administrative costs.

Dave Gagnon, CEO and Chairman of Charbone Hydrogen, expressed his enthusiasm: "This financing underscores the growing confidence in Charbone's leadership position in North America's green hydrogen sector. We're on track to initiate production and generate near-term revenue, while simultaneously advancing our ambitious vision of establishing a network of 16 modular hydrogen production facilities by 2030."

The funds raised will be utilized to finance the engineering and construction of the Sorel-Tracy facility, procure essential equipment and develop necessary infrastructure, and manage the project while preparing for a larger financing round.

Charbone Hydrogen aims to revolutionize the energy landscape by building a network of 16 green hydrogen production facilities across North America. The company's strategic focus on green hydrogen positions it as a key player in the global shift towards sustainable energy solutions.

About Charbone Hydrogen Corporation

CHARBONE Hydrogen is a North American green hydrogen company focused on producing and distributing eco-friendly hydrogen from renewable energy sources. The company is committed to building a network of modular, scalable hydrogen production facilities across North America, with a target of 16 facilities by 2030. Serving industrial, commercial, and mobility sectors, CHARBONE aims to deliver low-carbon, green hydrogen solutions. As North America's only publicly traded pure-play green hydrogen company, CHARBONE is listed on the TSX Venture Exchange (CH), OTC Markets (CHHYF), and Frankfurt Stock Exchange (K47). Their core values drive their ambition to lead the energy transition.