Original News Release
Charbone Hydrogen closes units-for-debt settlement
Mr. Benoit Veilleux reports
CHARBONE ANNOUNCES CLOSING OF UNITS FOR DEBT FINANCING TOTALING $0.5M
Charbone Hydrogen Corp. has closed its units-for-debt settlements amounting to $503,125 with a strategic partner for the Sorel-Tracy plant's construction.
The company has settled $503,125 of payables with an arm's-length supplier through the issuance of units. Each unit offered, priced at 12 cents per unit, comprised one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of 14 cents for 12 months following the closing date. A total of 4,192,708 units will be issued at the closing, at a conversion price per unit of 12 cents. The company believes that settling its payables through the issuance of securities is appropriate to advance production of its Sorel-Tracy project and to manage its cash prudently. A formal agreement will reflect any debt settlement and will be subject to the approval of the TSX Venture Exchange. Any securities issued pursuant to a debt settlement will be subject to a statutory four-month hold period in Canada.
About Charbone Corp.
Charbone is an integrated company specializing in clean ultrahigh-purity (UHP) hydrogen and the strategic distribution of industrial gases in North America and Asia Pacific. Through a modular approach, the company is building a distributed network of green hydrogen production plants while diversifying revenues through helium and specialty gas partnerships. This disciplined model reduces risk, enhances flexibility and positions Charbone as a leader in the transition to a low-carbon future. Charbone is listed on the TSX Venture Exchange (TSX-V: CH), the OTC Markets (OTCQB: CHHYF) and the Frankfurt Stock Exchange (FSE: K47).
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