FAQ: CHARBONE Hydrogen's Oversubscribed $1M Private Placement Closing

What is the main announcement in this content?

CHARBONE Hydrogen Corporation has completed the second and final closing of its $1 million non-brokered private placement, which was oversubscribed and raised a total of $1.013 million.

How much money was raised in the second tranche and total?

The second tranche raised $0.551 million, bringing the total amount raised to $1.013 million, exceeding the original $1 million target.

What will the proceeds from this private placement be used for?

The funds will be used for purchasing operating hydrogen equipment, re-installation at the Sorel-Tracy site, infrastructure development, and general working capital requirements.

What was the structure of the private placement units?

Each Unit was priced at $0.06 and consisted of one common share and one common share purchase warrant, with each warrant allowing the holder to buy one additional common share at $0.08 for 24 months.

Why is this private placement significant for CHARBONE?

This successful financing provides CHARBONE with resources to advance its hydrogen equipment re-installation and infrastructure development, demonstrating investor confidence in the company’s vision to deliver clean UHP hydrogen across North America.

What are the regulatory conditions and restrictions for this offering?

The closing remains subject to TSX Venture Exchange approval, all securities are subject to a four-month and one-day hold period, and the offering was made under accredited investor exemptions with restrictions on U.S. sales unless registered or exempt.

Who is the CEO quoted in the announcement and what did they say?

Dave B. Gagnon, CEO of CHARBONE, expressed pleasure with the strong investor interest and stated that the financing supports the company’s disciplined, modular approach to becoming a key player in the transition to a low-carbon economy.

What is CHARBONE’s business focus and mission?

CHARBONE is dedicated to building North America’s first clean Ultra High Purity (UHP) hydrogen production and distribution network, positioning itself as a key player in the transition to a low-carbon emission economy.

Were there any finder’s fees or commissions paid in this offering?

Yes, the Company paid a finder’s fee of $22,160 and issued 369,333 finder’s warrants to registered dealers related to the sale of specific Units to qualified subscribers introduced by those dealers.