CHARBONE Announces a Non-Brokered Private Placement Closing of $3.1M

Core Viewpoint - CHARBONE CORPORATION has successfully closed a non-brokered private placement, raising gross proceeds of $3.1 million to enhance its clean Ultra High Purity hydrogen production capacity [1][2]. Private Placement Details - The company issued 23,614,286 Units at a price of $0.13125 per Unit, each consisting of one common share and one common share purchase warrant [2][6]. - The proceeds will primarily fund the purchase and installation of Phase 1B hydrogen equipment at the Sorel-Tracy site, increasing production capacity by 4.5 times to nearly 1 tonne per day [2][6]. - Each warrant allows the holder to purchase an additional common share at an exercise price of $0.18 for 24 months post-closing, with an acceleration clause if the share price exceeds $0.30 for 10 consecutive trading days [6]. Company Overview - CHARBONE is focused on developing a network of clean hydrogen production facilities across North America, starting with its flagship project in Sorel-Tracy, Quebec [4]. - The company aims to support the transition to a lower-carbon economy by providing decentralized clean hydrogen and specialty gas solutions [4]. - CHARBONE is listed on the TSX Venture Exchange, OTC Markets, and Frankfurt Stock Exchange [4].