Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) has completed the first tranche of a private placement, raising $339,566.
Priced at $0.05 per unit, each unit comprises one common share and one warrant. A total of 5,030,000 units were issued, with the potential for an additional 9,970,000 units, aiming for a total offering of up to $750,000.
The funds will support operational activities for the Sorel-Tracy project in Quebec, and prepare for a substantial financing transaction.
The company paid a finder's fee of $10,150 and issued 203,000 finder's warrants at the closing date.