Charbone Hydrogen closes units-for-debt settlement

Executive Summary

• Charbone Hydrogen Corp. closed a units‑for‑debt financing transaction totaling $503,125 with a strategic partner to fund construction of its Sorel‑Tracy hydrogen plant.
• The settlement was executed by issuing 4,192,708 units at $0.12 per unit, each consisting of one common share and one warrant to purchase an additional share at $0.14 for twelve months.
• The transaction is expected to preserve cash, advance the Sorel‑Tracy project, and is subject to TSX Venture Exchange approval and a four‑month statutory hold period on the securities.

Key Details

• Total consideration: $503,125 settled in payables via issuance of units.
• Unit pricing: $0.12 per unit (one common share + one warrant).
• Units issued: 4,192,708 units.
• Warrant terms: Each warrant allows purchase of one additional common share at an exercise price of $0.14; exercisable for 12 months after closing.
• Purpose: To fund construction of the Sorel‑Tracy hydrogen production plant and manage cash prudently.
• Regulatory: Transaction requires approval from the TSX Venture Exchange; securities issued are subject to a four‑month statutory hold period in Canada.

Notable Quotes

(No direct quotes were provided in the release.)