First Hydrogen closes $1.56-million financing

Executive Summary

• First Hydrogen Corp. has closed a private placement of 5.2 million units, raising gross proceeds of $1.56 million.
• Each unit consists of one common share and one share purchase warrant, exercisable at $0.45 per share for a period of two years.
• The offering was completed under the listed issuer financing exemption, meaning the securities are not subject to a hold period.

Key Details

• Gross Proceeds: $1,560,000
• Units Sold: 5,200,000 units
• Unit Composition: Each unit comprises one common share and one share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.45 per share
  • Duration: Two years from the closing date
  • Ratio: One warrant per unit
• Use of Proceeds: Working capital and general corporate purposes.
• Regulatory Status: Completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106; no hold period applies.
• Finders' Fees:
  • Cash Fees: $124,800 paid to finders.
  • Warrants Issued: 416,000 non-transferable finders' warrants.
  • Finder's Warrant Terms: Exercisable at $0.45 per share for a period of two years from the closing date.

Notable Quotes

• None provided in the text.