Business
Charbone Hydrogen Announces Closing of Units for Debts Issuance and Provides a Corporate Update on Management Advances
(TheNewswire) Brossard, Quebec – TheNewswire - March 8, 2024 –...
About this update from Charbone Hydrogen Corporation
[{"type":"text","content":"Charbone Hydrogen Announces Closing of Units for Debts Issuance and Provides a Corporate Update on Management Advances\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Brossard, Quebec –\n \n \n TheNewswire -\n \n \n March 8, 2024 –\n \n \n \n \n CHARBONE HYDROGEN\nCORPORATION\n \n \n \n \n (TSXV:CH\n \n \n )\n \n \n ;\n \n \n (\n \n \n OTC:CHHYF\n \n \n )\n \n \n ;\n \n \n (\n \n \n FWB:K47) (the\n“\n \n \n Company\n \n \n ” or “\n \n \n Charbone\n \n \n ”), North America’s only publicly\ntraded pure-play green hydrogen company, today is pleased to announce\nthe closing of Units for debt settlements of $50,000.\n \n \n \n \n The Company has settled with an arm’s length supplier\n$50,000 of payables through the issuance of units. Each of the units\noffered, priced at $0.10 per Unit, was comprised of one common share\nof the Company and one common share purchase warrant. Each Warrant\nwill entitle the holder thereof to purchase one additional common\nshare of the Company at an exercise price of $0.12 for a period of 12\nmonths following the closing date. A total of 500,000 Units will be\nissued pursuant to the closing, at a conversion price per unit of\n$0.10. The Company believes that the settlement of the payables\nthrough the issuance of securities is appropriate at the present time\nin light of the various project commitments and the overall need to\nmanage its cash in a prudent manner.  Any debt settlement will be\nreflected by a formal agreement and will be subject to the approval of\nthe TSX Venture Exchange. Any securities issued pursuant to a debt\nsettlement will be subject to a statutory four month hold period in\nCanada and be released in a manner of 25% of the total shares received\nevery quarter over a period of twelve (12) months.\n \n \n \n \n In addition, during Q4 2023, Charbone received the\nrepayment of the full amount remaining as of September 30, 2023\n($21,153) of the CFO’s shareholder advance to help financing\non-going corporate activities.\n \n \n \n \n \n \n About\nCharbone Hydrogen Corporation\n \n \n \n \n Charbone is an integrated green hydrogen group focused\non delivering a North American network of production facilities and\ntechnological solutions for...