Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) announced that it has closed an approximately $503,000 debt settlement with a strategic partner for its Sorel-Tracy plant.
The company issued about 4.19 million units at $0.12 each, each consisting of one share and one warrant exercisable at $0.14 for 12 months.
Charbone said using units to settle payables supports project advancement and prudent cash management.