Primary Hydrogen Announces Proposed Consolidation of Common Shares

About this update from Primary Hydrogen Corp.

Primary Hydrogen Announces Proposed Consolidation of Common SharesCalgary, Alberta--(Newsfile Corp. - January 28, 2026) - Primary Hydrogen Corp. (TSXV: HDRO) (OTCQB: HNATF) (FSE: 83W0) (the "Company" or "Primary Hydrogen") is pleased to announce that the board of directors has approved a proposed consolidation of the Company's issued and outstanding common shares (the "Shares") on the bases of ten (10) pre-consolidation Shares for one (1) post-consolidation Share (the "Consolidation").The Consolidation, if completed, will reduce the number of Shares outstanding from approximately 49,191,411 to approximately 4,919,141. Shareholders will hold proportionally fewer shares at a correspondingly higher price per Share, with no change to the overall value of their holdings (subject to rounding of fractional shares). No fractional Shares will be issued; any fractional interest will be rounded to the nearest whole number.The proposed Consolidation is intended to better position the Company's capital structure for future corporate and financing initiatives. The Company's name and trading symbol will remain unchanged following completion.The Consolidation is subject to acceptance by the TSX Venture Exchange (the "Exchange"). No effective date has been determined at this time. The Company will issue a further news release to confirm the effective date and record date once Exchange acceptance has been received.About Primary Hydrogen Corp.Primary Hydrogen is dedicated to the exploration and development of natural hydrogen resources. With over 740 acres in the U.S. and 230 square kilometers across Canada, the Company's portfolio includes the Blakelock, Hopkins, Mary's Harbour, Point Rosie, Crooked Amphibolite, Coquihalla, and Cogburn projects. Primary has an option to acquire a 75% interest in a hydrogen-REE project known as Wicheeda North located in British Columbia.--FOR FURTHER INFORMATION, PLEASE CONTACT:Ben AsuncionChief Executive OfficerPrimary Hydrogen Corp.Email: [email protected] NOTE REGARDING FORWARD-LOOKING INFORMATIONThis news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements in this release include statements regarding (1) the anticipated Consolidation and receiving the necessary approvals.Forward-looking statements are based on seve...

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