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CHARBONE HYDROGEN Announces the Amendment to the Agreement for the Acquisition of the three Hydropower Plants in Michigan and other Corporate Updates
(TheNewswire) Brossard, Québec – TheNewswire - May 30, 2023 – ...
About this update from Charbone Hydrogen Corporation
[{"type":"text","content":"CHARBONE HYDROGEN Announces the Amendment to the Agreement for the Acquisition of the three Hydropower Plants in Michigan and other Corporate Updates\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 Brossard, Québec –\n \n \n TheNewswire -\n \n \n May 30, 2023 –\n \n \n CHARBONE HYDROGEN CORPORATION (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)\n \n \n \n \n (“\n \n \n Charbone\n \n \n ”)\n \n \n announces that it\n \n \n has\nexecuted a second amendment, on May 30, 2023, pursuant to certain\nterms and conditions to the Purchase and Sale Agreement\n \n \n (the “\n \n \n PSA\n \n \n ”), signed January 17, 2023. The\namendment postpones the closing date. The acquisition of Tower Kleber\nLimited Partnership (“\n \n \n TKLP\n \n \n ”), a Michigan Limited Partnership and\nBlack River Limited Partnership (“\n \n \n BRLP\n \n \n ” and\ncollectively with TKLP, the “\n \n \n Limited Partnerships\n \n \n ”), will close on or\nbefore August 10, 2023, subject to an additional USD200,000\nnon-refundable deposit to be provided on or before July 28, 2023, and\nother customary closing conditions including the receipt by Charbone\nof satisfactory financing.\n \n \n \n \n The Limited Partnerships have the capacity to produce\n2,760 kW of hydropower. The Michigan Plants are generating revenues\nunder long-term Power Purchase Agreement for the sale of energy, as\nwell as earning revenues from the sale of capacity and Renewable\nEnergy Credits\n \n \n .\n \n \n \n \n Charbone is also pleased to announce that it’s Chief\nOperating Officer, Daniel Charette has been elected on the Hydrogen\nQuebec Association board as Vice-president during the last general\nassembly election. Daniel has a large experience and track record\nsitting on sectorial association such as Hydrogen Quebec as he spends\nover 9 years on the Canadian Wind Energy Association (now CanREA) and\nothers over the course of its career.\n \n \n \n \n During April and May 2023, Charbone received the\nrepayment of the full amount remaining as of March 31, 2023 ($158,712)\nof the CEO’s shareholder advance to help financing on-going\ncorporate activities.\n \n \n \n \n...