News.
ORIGINAL: Charbone Hydrogen Announces Closing of a Second Tranche of its Non-Brokered Private Placement
2023-12-18 08:25 ET - News Release
(via TheNewswire)
NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES
Brossard, Quebec – TheNewswier - December 18, 2023 – Charbone Hydrogen Corporation (TSXV:CH ) ( OTC:CHHYF ) ( FWB:K47) (“ Charbone ” or the “ Company ”) is pleased to announce the closing of a second tranche of its previously announced private placement financing of units of the Company (the “ Offering ”) for gross proceeds of $248,377. When combined with the previous closing, the Company has raised an aggregate of $499,877 pursuant to the Offering.
Each of the units offered (each a “ Unit ”), priced at $0.05 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 $ 0.05 for a period of 12 months following the closing date of the Offering (the “ Closing Date ”). A total of 4,967,540 Units were issued pursuant to the closing of the second tranche of the Offering.
The Units were offered by way of the “accredited investor” exemptions under National Instrument 45-106 – Prospectus Exemptions (in Qubec, Regulation 45-106 – Prospectus Exemptions ).
The proceeds from the Offering are intended to be used by the Company to finance operations to continue Sorel-Tracy (Qc, Canada) project and to prepare a significant potential financing transaction.
The Company may close a third and final tranche on or before December 22, 2023. The closing of the Offering remains subject to the approval of the TSX Venture Exchange and other customary closing conditions.