Protium Clean Energy Corp. Closes Oversubscribed Private Placement Offering

Executive Summary

• Protium Clean Energy Corp. closed its previously announced private placement, issuing 10,280,000 units at $0.105 per unit for total gross proceeds of $1,079,400.
• The offering was oversubscribed by 2.8% (280,000 additional units) beyond the originally contemplated maximum of 10,000,000 units.
• Proceeds will be allocated to hydrogen and mineral exploration programs and general working capital.

Key Details

• Units Issued: 10,280,000 Units (each consisting of one common share + half a warrant).
• Price per Unit: $0.105.
• Total Gross Proceeds: $1,079,400.
• Oversubscription: 280,000 units above the planned maximum of 10,000,000 units.
• Warrant Terms: Each whole warrant exercisable at $0.14 per share; warrants expire two years from issuance.
• Statutory Hold Period: All securities subject to a four‑month and one‑day hold period.
• Finder’s Fees: Up to 10% cash and 10% warrants payable to eligible finders where applicable.
• Use of Proceeds: Funding hydrogen exploration, mineral exploration, and general working capital.
• Closing Condition: Subject to approval by the Canadian Securities Exchange.

Notable Quotes

(No direct quotes provided in the release.)