CHARBONE Hydrogen Provides Update on Flagship Sorel-Tracy Project, Achieving Multiple Key Milestones This Week

Core Insights - CHARBONE Hydrogen Corporation has made significant progress in the construction of its Sorel-Tracy project, which is focused on ultra-pure green hydrogen production and distribution [2][3][4] - The company has completed key infrastructure connections, including electrical interconnection and water supply, which are essential for the hydrogen production process [2][3] - Environmental stewardship efforts have been undertaken to protect a rare plant species found on-site, demonstrating the company's commitment to sustainable practices [5] Construction Progress - The electrical interconnection at the Sorel-Tracy site has been completed, allowing energy to flow from the Hydro-Quebec grid to the production area [2] - Water supply infrastructure has been installed, linking the site to a 14-inch main water line, ensuring sufficient water capacity for all project phases [3] - Heavy civil construction equipment has arrived, and construction teams have begun site preparation for production equipment installation [4] Environmental Initiatives - The Quebec Ministry of the Environment identified a rare plant species on the property, and CHARBONE has successfully relocated and protected it, ensuring its habitat is preserved [5] Financial Updates - CHARBONE has closed shares for debt settlements amounting to $118,095, issuing 1,968,254 shares at a conversion price of $0.06 to manage cash prudently [6] - The company is also closing US$1.5 million (CA$2.1 million) in convertible notes, which will result in the issuance of 2,109,900 warrants to the placement agent [7][8]