Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) is raising funds for its green hydrogen development plans.
The Brossard, Quebec-based company is developing modular and expandable hydrogen facilities and regional hubs in North America.
Charbone aims to set itself apart as a provider of eco-friendly solutions for industrial, commercial, and mobility users by utilizing dependable and sustainable energy sources to generate green dihydrogen molecules.
The company recently closed the first tranche of a $750,000 fundraising campaign to finance operations to continue the Sorel-Tracy project in Quebec, and to prepare a “significant potential financing transaction,” according to a statement.
In the first tranche, the firm offered 5.03 million units priced at $0.05 for gross proceeds of a total of $339,566.
Each unit is priced at $0.05 and includes one regular share of the company and one warrant exercisable at a price of $0.05 within 12 months after the offering's closing date.
Charbone said it may issue up to an additional 9.97 million units, for gross proceeds of up to $498,500, representing a total offering of up to $750,000.
The company anticipates a second tranche to close no later than December 22.