Charbone Hydrogen Announces Grant of Common Share Purchase Options and Units for Debts Update

(TheNewswire)

Brossard, Québec - TheNewswire - November 9, 2023 - Charbone Hydrogen Corporation (TSXV:CH)(OTC:CHHYF) (FWB:K47)(“Charbone” or the “Company”)is pleased to announce the grant of 1,100,000 common share purchase options of Charbone (“Options”) to directors, executive and team members. Those options are granted in accordance with the conditions of the Charbone stock option plan. Each Option allows its holder to purchase one common share of the Company at a price of $0.075 per common share for a period of one year starting November 8, 2023.

Concerning the previously announced, on August 31 and September 7, 2023,closings of Units for debt settlements, following discussions with TSX Venture Exchange, the Company had to revise the total amount and number of units to be issued. The Company has settled with certain arm’s length suppliers a total of $479,162 payable through the issuance of units. A total of 4,791,619 Units will be issued pursuant to the closing, at a conversion price per unit of $0.10. Any debt settlement will be reflected in a formal agreement and will be subject to the final approval of the TSX Venture Exchange.

About Charbone Hydrogen Corporation

Charbone is a green hydrogen group established in North America. The company's strategy is to develop modular and expandable hydrogen facilities and regional hubs. 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, commercial and mobility users.

Forward-Looking Statements

This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.

Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts

Benoit Veilleux

Chief Financial Officer and Corporate Secretary

CHARBONE Hydrogen Corporation

Telephone: +1 450 678-7171

Email: bv@charbone.com

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