First Hydrogen arranges $3-million private placement

Executive Summary

• First Hydrogen Corp. announced a non‑brokered private placement of up to 9,677,419 units for gross proceeds of up to $3 million at $0.31 per unit.
• The offering includes common shares and share purchase warrants (exercise price $0.45, two‑year term) and offers convertible debenture holders the option to settle $2,744,425 of principal by receiving units in the placement.
• Net proceeds are earmarked for working capital and general corporate purposes.

Key Details

• Units Offered: Up to 9,677,419 units at $0.31 per unit (gross proceeds ≤ $3 million).
• Unit Composition: Each unit = 1 common share + 1 warrant.
• Warrant Terms: Right to purchase one additional share at $0.45 per share; exercisable for two years from closing date.
• Convertible Debenture Settlement Offer:
• Up to $2,204,425 of convertible debentures due 22 Nov 2028 and $540,000 due 9 Jul 2026 may be settled by receiving up to 8,852,984 units of the private placement.
• Resale Restrictions: All securities subject to a statutory resale restriction for four months and one day from closing.
• Finder’s Fees: Company may pay finder’s fees in accordance with TSX Venture Exchange policies.
• Subscription Rights: Company reserves the right to accept, reject, or partially fill any subscriptions up to the permitted aggregate amount.
• Use of Proceeds: Net proceeds will be used for working capital and general corporate purposes.

Notable Quotes

(No executive quotes were provided in the release.)