Charbone Hydrogen Announces Closing of Units for Debts Issuance and Provides a Corporate Update on Management Advances — TradingView News

(TheNewswire)

Brossard, Quebec – TheNewswire – March 8, 2024 – CHARBONE HYDROGENCORPORATION (TSXV:CH); (OTC:CHHYF);(FWB:K47) (the“Company” or “Charbone”), North America’s only publiclytraded pure-play green hydrogen company, today is pleased to announcethe closing of Units for debt settlements of $50,000.

The Company has settled with an arm’s length supplier$50,000 of payables through the issuance of units. Each of the unitsoffered, priced at $0.10 per Unit, was comprised of one common shareof the Company and one common share purchase warrant. Each Warrantwill entitle the holder thereof to purchase one additional commonshare of the Company at an exercise price of $0.12 for a period of 12months following the closing date. A total of 500,000 Units will beissued pursuant to the closing, at a conversion price per unit of$0.10. The Company believes that the settlement of the payablesthrough the issuance of securities is appropriate at the present timein light of the various project commitments and the overall need tomanage its cash in a prudent manner.  Any debt settlement will bereflected by a formal agreement and will be subject to the approval ofthe TSX Venture Exchange. Any securities issued pursuant to a debtsettlement will be subject to a statutory four month hold period inCanada and be released in a manner of 25% of the total shares receivedevery quarter over a period of twelve (12) months.

In addition, during Q4 2023, Charbone received therepayment of the full amount remaining as of September 30, 2023($21,153) of the CFO’s shareholder advance to help financingon-going corporate activities.

AboutCharbone Hydrogen Corporation

Charbone is an integrated green hydrogen group focusedon delivering a North American network of production facilities andtechnological solutions for the creation and distribution of greenhydrogen produced from clean and renewable energies. Providingeco-friendly energy solutions for industrial, institutional,commercial and future mobility users, the Company’s strategy is todevelop modular and expandable hydrogen facilities producing green andlow carbon intensity dihydrogen molecules, with the goal of scaling todeliver 16 modular and scalable green hydrogen production facilitiesin strategic areas across North America by 2030.

As North America’s onlypublicly traded pure-play green hydrogen company, Charbone’s common shares are active on the TSX VentureExchange CCH; the OTC Markets (OTCQB: CHHYF); and the FrankfurtStock Exchange KK47.

Forward-Looking Statements

This news release containsstatements that are “forward-looking information” as defined underCanadian securities laws (“forward-looking statements”). Theseforward-looking statements are often identified by words such as“intends”, “anticipates”, “expects”, “believes”,“plans”, “likely”, or similar words. The forward-lookingstatements reflect management’s expectations, estimates, orprojections concerning future results or events, based on theopinions, assumptions and estimates considered reasonable bymanagement at the date the statements are made. Although Charbonebelieves that the expectations reflected in the forward-lookingstatements are reasonable, forward-looking statements involve risksand uncertainties, and undue reliance should not be placed onforward-looking statements, as unknown or unpredictable factors couldcause actual results to be materially different from those reflectedin the forward-looking statements. The forward-looking statements maybe affected by risks and uncertainties in the business of Charbone.These risks, uncertainties and assumptions include, but are notlimited to, those described under “Risk Factors” in the Corporation’s Filing Statementdated March 31, 2022, which is available on SEDAR at www.sedar.com;they could cause actual events or results to differ materially fromthose projected in any forward-looking statements.

Except as required under applicablesecurities legislation, Charbone undertakes no obligation to publiclyupdate or revise forward-looking information.

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.

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