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ORIGINAL: Charbone Hydrogen Announces Closing of a Third and Final Tranche of its Non-Brokered Private Placement
2023-01-23 08:25 ET - News Release
(via TheNewswire)
NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
Brossard, Qubec – TheNewswire - January 23, 2023 – Charbone Hydrogen Corporation (TSXV:CH) (“ Charbone ” or the “ Company ”) is pleased to announce the closing of a third and final tranche of its previously announced private placement financing of units of the Company (the “ Offering ”) for gross proceeds of $555,400. When combined with the two previous closings, the Company has raised an aggregate of $1,197,600 pursuant to the Offering.
Each of the units offered (each a “ Unit ”), priced at $0.12 per Unit, was comprised of one common share of the Company (each, a “ Unit Share ”) and one common share purchase warrant (each, a “ Warrant ”). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $ 0.20 for a period of 24 months following the closing date of the Offering (the “ Closing Date ”). A total of 4,628,335 Units were issued pursuant to the closing of the third and final tranche of the Offering.
At the Closing Date, the Company engaged to pay a finder’s fee of $2,880 plus to issue 24,000 finder’s warrants to a registered finder in connection with sale of Units to a qualified subscriber introduced to the Company by such finder.
The Units were offered by way of the “accredited investor” exemptions under National Instrument 45-106 – Prospectus Exemptions (in Qubec, Regulation 45-106 respecting Prospectus Exemptions ).
The proceeds from the third and final tranche of the Offering are intended to be used by the Company for equipment purchases in preparation of further phases of its Sorel-Tracy green hydrogen facility and for general working capital purposes.
All securities issued pursuant to the Offering are subject to a statutory four month and one day hold period in Canada following the Closing Date.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “ 1933 Act ”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About Charbone
Charbone is a Canadian green hydrogen group established in North America. The company's strategy is to develop modular and expandable hydrogen facilities and regional hubs. With the acquisition of hydroelectric power plants in the United States and Canada, Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial and commercial companies.