Protium Clean Energy closes $1.07-million unit offering

Executive Summary

• Protium Clean Energy Corp. closed an oversubscribed private placement, issuing 10.28 million units at $0.105 per unit for total gross proceeds of $1,079,400.
• Each unit includes one common share and half a share purchase warrant; warrants are exercisable at $0.14 per share for two years.
• Proceeds will fund hydrogen and mineral exploration activities and general working capital.

Key Details

• Units Issued: 10,280,000 (oversubscribed by 280,000 units beyond the originally planned 10 million).
• Price per Unit: $0.105 (10.5 cents).
• Gross Proceeds: $1,079,400.
• Unit Composition: 1 common share + ½ share purchase warrant.
• Warrant Terms: Exercise price $0.14 per share; term expires two years from issuance.
• Statutory Hold Period: All securities subject to a four‑month‑and‑one‑day hold period.
• Finder’s Fee: Up to 10 % cash and 10 % warrants paid to eligible finders where applicable.
• Use of Proceeds: Hydrogen exploration, mineral exploration, and general working capital.
• Closing Conditions: Subject to approval by the Canadian Securities Exchange.

Notable Quotes

(No direct quotes were provided in the release.)