CHARBONE HYDROGEN CORPORATION (the “Company” or “CHARBONE”), North America’s only publicly
traded pure-play green hydrogen company, is pleased to announce that it has received $371,150 from
the exercise of warrants expiring in December 2024 as well as February 2025.
Extension of warrants
The Company also announces that it has requested the extension of the expiry date and modification
of the exercise price of 9,980,004 common share purchase warrants (the “Warrants”) that were issued
pursuant to a non-brokered private placement of units of CHARBONE that closed by tranches on
December 14 and 28, 2022, as well as on January 20, 2023.
Pursuant to the approval by the TSX Venture Exchange, CHARBONE will extend the expiry dates of
the Warrants of December 14, 2024, December 28, 2024 and January 20, 2025 to February 28, 2025.
CHARBONE will also modify the exercise price from $0.20 to $0.125. All other terms and conditions
of the Warrants remain unchanged. None of these Warrants have been exercised to date. Warrant
holders are advised that replacement warrant certificates will not be issued and that the original warrant
certificate must be presented to CHARBONE in order to effect the exercise of the Warrants.
None of the warrant holders are insiders. In accordance with the policies of the TSX Venture Exchange,
no compensation warrants issued in connection with the prior financing are being extended nor
modified.
Grant of Common Share Purchase Options
CHARBONE is pleased to announce the grant of 1,750,000 common share purchase options of
Charbone (“Options”) to directors, executive, team members and consultants. Those options are
granted in accordance with the conditions of the CHARBONE stock option plan. Each Option allows
its holder to purchase one common share of the Company at a price of $0.15 per common share for a
period of two (2) years starting December 13, 2024.
$1M Non-Brokered Private Placement
Concerning the previously announced private placement with a first tranche announce on November
26, 2024 and a second and third tranches announced on December 3, 2024, the Company want to
specify that the finder’s warrants issued are all having the same terms as the Units issued which will
entitle the holder thereof to purchase one additional common share of the Company at an exercise price
of $0.05 for a period of 12 months following the closing dates of the Offering. Also, Mr. Mena Beshay,
director of the Company, have subscribed for 360,000 Units in the second tranche announced on
December 3, 2024. Mr. Benoit Veilleux, CFO and Mr. Mena Beshay, Director, were the only insiders
that have subscribed in the private placement for a total of 1,260,000 Units. Such participations are not
subject to the minority approval and formal valuation requirements under MI 61-101 since there is an
applicable exemption from these requirements as neither the fair market value of the subject matter,
nor the fair market value of the consideration of the transaction, insofar as it involves the interested
parties, exceeded 25% of the Company’s market capitalization.
