Brossard, Quebec, November 28, 2023 – CHARBONE HYDROGEN CORPORATION (TSXV: CH, OTCQB: CHHYF, FWB:K47) (“Charbone”) is pleased to announce that its fully owned US subsidiary, CHARBONE CORPORATION USA (“Charbone USA”), has executed a Memorandum of Understanding (the “MOU”) as of November 27, 2023 with NEK COMMUNITY BROADBAND CUD (“NEK Broadband”) for the supply of green hydrogen in the Northeast Kingdom of the state of Vermont (USA). It is to be used to provide the necessary back-up power to the extensive NEK Broadband new internet network under construction in the Northern Kingdom of Vermont.
Charbone USA and NEK Broadband will pursue the negotiation to an agreement that will define the green hydrogen price at the gate, annual required volumes and the general terms and conditions pertaining to such agreement. Charbone will have the ability to supply green hydrogen from its nearest facility. Charbone’s first project at Sorel-Tracy (Quebec, Canada), which is under construction and planned to be in production in the first semester of 2024, could be the source plant. Charbone plans to develop, operate and distribute green hydrogen from a network of up to 15 facilities in Canada and the United States.
NEK Broadband is a communication union district formed under 30 VSA Chapter 82 that includes every town in the Northeast Kingdom of Vermont, plus Wolcott, and is building public infrastructure to help ensure that every address that has existing electric utility service will have access to affordable, reliable, and high-speed broadband internet. In order to keep the system working and have a continuous and reliable backup power supply, NEK Broadband has opted to install an innovative hydrogen fuel cell backup system. This system will allow them to be carbon neutral and be the first in the northeast to use such a state-of-the-art decarbonized system.
“I’m particularly proud to be part of such a great community project with the NEK Broadband team in our neighboring state of Vermont,” said Dave B. Gagnon, Chairman and CEO of Charbone. “The size of the project will allow the Charbone Team to deploy our green hydrogen to fuel cells and expand our portfolio of industrial customers. We are extremely pleased by how the values upheld by the NEK Broadband team align with Charbone’s mission, objectives, and community values.”
“NEK Broadband’s commitment to our community incorporates finding ways to reduce our networks carbon footprint as we bring high-speed internet to the unserved in northeast Vermont,” said Christa Shute, Executive Director of NEK Broadband. “We are excited about Charbone’s commitment to renewable hydrogen production that will enable us to pioneer a green hydrogen fuel cell resulting in a zero-carbon back up power system for our electronic hub sites while giving our customers the confidence to use the internet through three days of local power outages.”
About Charbone Hydrogen Corporation
Charbone is a green hydrogen group established in North America. The company’s strategy is to develop modular and expandable hydrogen facilities and regional hubs. Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial, commercial and mobility users.
About NEK Community Broadband CUD
NEK Broadband is a Communications Union District formed under 30 VSA Chapter 82 that includes every town in the Northeast Kingdom of Vermont. We are building public infrastructure to help ensure that every address that has existing electric utility service will have access to affordable, reliable, and high-speed broadband internet As a municipality, we are a non-profit, so revenue generation will be invested in building and repairing infrastructure and supporting affordability programs.
People in NEK Broadband’s service area who would like to keep track of when service will be available at their home can sign up for updates at www.get.nekbroadband.org
Forward-Looking Statements
This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts Charbone Hydrogen Corporation Contacts NEK Broadband
Dave B. Gagnon Christa Shute Chief Executive Officer and Executive Director Chairperson of the Board
CHARBONE Hydrogen Corporation NEK Broadband
Brossard, Quebec, November 27, 2023 – CHARBONE HYDROGEN CORPORATION (TSXV: CH, OTCQB: CHHYF, FWB:K47) (“Charbone” or “Company”) is pleased to announce that it has executed an engagement letter to appoint Maxim Group LLC (“Maxim”) as the Charbone’s exclusive financial advisor to perform the advisory services in connection with a merger and acquisition transaction (the “Agreement”).
The executed Agreement between the parties will provide Charbone with the strong and experienced investment banking partner to lead the offers process to invite existing and potential partners to participate in a proposed transaction that is expected to be undertaken by the Company with respect to the potential partnership or sale, in part or in whole, of certain of its developed projects, and potential equity position in the Company or its subsidiaries (the “Transaction”). Charbone and Maxim has launched the process where candidates, newly presented to or already in discussion with Charbone, will be invited to submit an indicative offer for the Transaction no later than 17:00h EST on December 15, 2023.
The upcoming closing of the Transaction is part of Charbone’s financing plan to complete its first project at Sorel-Tracy (Quebec, Canada), which is under construction and planned to be in production in the first semester of 2024 and to continue the development of a network of up to 15 facilities in Canada and the United States of production and distribution of renewable hydrogen by 2028.
About Charbone Hydrogen Corporation
Charbone is a green hydrogen group established in North America. The company’s strategy is to develop modular and expandable hydrogen facilities and regional hubs. Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial, commercial and mobility users.
About Maxim Group LLC
Maxim Group is a leading full-service investment bank, securities and wealth management firm headquartered in mid-town Manhattan. Maxim formed in 2002 as a spin-off of the U.S. subsidiary of the global investment firm Investec. Maxim provides a comprehensive array of financial services including investment banking, global institutional sales, equity research, fixed income and derivative sales & trading, merchant capital, private wealth management, and prime brokerage services to a diverse range of corporate clients, institutional investors, and high-net-worth individuals.
Forward-Looking Statements
This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
Secretary
CHARBONE Hydrogen Corporation Maxim Group LLC
Telephone: +1 212 895-3658 Email: pmavrides@maximgrp.com
Brossard, Quebec, November 17, 2023 – Charbone Hydrogen Corporation (TSXV:CH, OTCQB:CHHYF, FWB:K47) (“Charbone” or the “Company”) is pleased to announce the closing of Shares for debt settlements of an aggregate of $195,000 of management, including Chief Executive Officer, remuneration debts by the issuance of 1,950,000 Common Shares (at a deemed value of $0.10 per Common Share) and the nomination of Mr. André Halley as a new Board member of Charbone, to be elected at the Annual General and Special Meeting of Shareholders on December 19, 2023. Mrs Brigitte Chabarekh, actual director of the Board of Charbone, will not renew her mandate after December 19, 2023.
In an effort to conserve its capital, the Corporation entered into those debt settlement agreements with certain members of management, including its Chief Executive Officer, to settle remuneration debts. Any debt settlement will be reflected by a formal agreement and pursuant to Policy 4.4 – Security Based Compensation of the Exchange Corporate Finance Manual, the Shares for Debt is subject to acceptance by the Exchange and subject to disinterested shareholder approval as the deemed value of the Common Shares to be issued exceeds $10,000 per month in aggregate. Any securities issued pursuant to a debt settlement will be subject to a statutory four month hold period in Canada.
Mr. André Halley has a career spanning over 40 years in the telecommunications industry occupying multiple presidential executive positions. Since the last couple of years, Mr. Halley was involved in Senior Advisory mandates sharing his expertise in international activities, management, start-up financing, growth industries and technology. As an accomplished senior executive and board member, Mr. Halley will bring a magnificent complementary experience to the Board of Charbone.
We thank Mrs Brigitte Chabarekh for her time and involvement as a member of the Board since the beginning, but also as the Chairman of the Audit Committee. We understand that Mrs Chabarekh will need to concentrate her efforts on new and increased professional responsibilities and wish her great success in her next endeavors.
About Charbone Hydrogen Corporation
Charbone is a green hydrogen group established in North America. The company’s strategy is to develop modular and expandable hydrogen facilities and regional hubs. Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial, commercial and mobility users.
Forward-Looking Statements
This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com, along with risks relating to the Offering and the intended use of proceeds of the Offering; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
For further information, please contact:
Dave B. Gagnon Chief Executive Officer and Chairperson of the Board
CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Email: dg@charbone.com
Daniel Charette Chief Operating Officer
CHARBONE Hydrogen Corporation
Telephone: +1 514 980 5841 Email: dc@charbone.com
Brossard, Québec, October 17, 2023 – CHARBONE HYDROGEN CORPORATION (TSXV: CH, OTCQB: CHHYF, FWB:K47) (“Charbone” or the “Company”) is pleased to announce that it has requested the extension of the expiry date of 5,635,000 common share purchase warrants (the “Warrants”) that were issued pursuant to a non-brokered private placement of units of Charbone that closed on April 21, 2022.
Pursuant to the approval by the TSX Venture Exchange, Charbone will extend the expiry date of the Warrants from October 21, 2023 to October 21, 2024. 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.
Less than 1% 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.
Concerning the previously announced private placement with a first tranche closed on September 6, 2023, the Company has not been allowed to close any other tranche before September 22, 2023, which was the last date for the period approved by TSX Venture Exchange.
Furthermore, the Company has reserved December 19, 2023 for its 2022 Annual General and Special Meeting of Shareholders. More details will be sent to all shareholders of the Company as of November 7, 2023.
About Charbone Hydrogen Corporation
Charbone is a green hydrogen group established in North America. The company’s strategy is to develop modular and expandable hydrogen facilities and regional hubs. Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial, commercial and mobility users.
Forward-Looking Statements
This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chairperson of the Board Chief Operating Officer
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: 1 514 980 5841 Email: dg@charbone.com Email: dc@charbone.com
Brossard, Québec, October 16, 2023 – CHARBONE HYDROGEN CORPORATION (TSXV: CH, OTCQB: CHHYF, FWB:K47) (“Charbone”) is pleased to announce that it has executed a “Design and Build” construction agreement (the “Agreement”) with one of the largest construction company in Quebec, EBC Inc., dated as of October 13, 2023, that will facilitate financing of the project. The Agreement has been executed between its wholly owned subsidiary, Charbone Hydrogen Quebec Inc. (“Charbone QC”), and EBC Inc. (“EBC”). Securing this new Agreement is paramount to the final item included in Charbone’s Québec construction plans for its first green hydrogen Phase I facility in Sorel-Tracy (Québec, Canada). Local subcontractors will be involved with EBC to complete these projects in the near future, as all major components and equipment for the facility are ready for delivery to the site.
The executed Agreement between the parties will provide Charbone with a strong and experienced contracting partner for its coast to coast ‘design and build’ facilities in Canada and potentially in the United States. Charbone has granted EBC the right of first refusal to construct additional Sorel-Tracy phases as well as one or all Charbone’s facilities within the North American market.
“This agreement with EBC is solidifying Charbone’s status as a frontrunner in the hydrogen production facility development and construction. It establishes a robust and steadfast partnership, not only for this project but also for all 14 other projects in our pipeline” said Dave B. Gagnon, Chairman and CEO of Charbone. “Charbone is thrilled to have finalized this agreement with EBC, who will serve as the design and build contractor. This partnership allows us to expedite the production and delivery of our first kilogram”.
Éric Bertrand, Vice-President Operations – Major Projects and Management Support at EBC,
expressed enthusiasm for being part of Charbone’s venture to establish Québec’s first exclusively dedicated green hydrogen production facility. He added, “For the past 55 years EBC has been a leader in renewable energy construction projects, and we are delighted to contribute our seasoned construction teams to assist Charbone in their decarbonization journey.”
About Charbone Hydrogen Corporation
Charbone is a green hydrogen group established in North America. The company’s strategy is to develop modular and expandable hydrogen facilities and regional hubs. Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial, commercial and mobility users.
About EBC Inc.
EBC is a Canadian construction industry leader, EBC is active in the building, mining, and major civil engineering sectors. In collaboration with its business partners, EBC carries out ambitious and diverse projects of the highest quality. We apply the most stringent safety and quality standards while focusing on customer satisfaction.
Forward-Looking Statements
This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chairperson of Chief Operating Officer the Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: 1 514 980 5841 Email: dg@charbone.com Email: dc@charbone.com
EBC INC.
Éric Bertrand Vice-President Operations – Major Projects and Management Support
Telephone: 613-564-0600,1116 Email: eric.bertrand@ebcinc.com
Brossard, Québec, May 1, 2023 – Charbone Hydrogen Corporation (TSXV:CH) (OTCQB: CHHYF) (FWB: K47) (“Charbone” or the “Company”) is pleased to announce that it has successfully obtained the DTC full-service eligibility approval on April 26, 2023. Charbone’s common shares are now freely and electronically tradable pursuant to U.S. securities laws on the OTCQB Venture Market (“OTCQB”). Charbone’s common shares trade under the symbol “CHHYF”.
According to OTC Markets Group Inc., the OTCQB offers investors transparent, high-quality trading in entrepreneurial and development stage companies which provides investors with improved market visibility to enhance trading liquidity. OTCQB is recognized as an established public market by the U.S. Securities and Exchange Commission. To be eligible for trading on the OTCQB, companies must be current in their reporting with the U.S. Securities and Exchange Commission, maintain audited financials through a Public Company Accounting Oversight Board (PCAOB) registered firm, and undergo an annual verification and management certification process.
“We believe this DTC eligibility on the OTCQB will position the Company to achieve greater exposure to a broader investor base,” stated Dave B. Gagnon, CEO of Charbone. “This is a very positive milestone and achievement for the Company and our shareholders.”
About Charbone
Charbone is a Canadian green hydrogen group established in North America. The company’s strategy is to develop modular and expandable hydrogen facilities and regional hubs. With the acquisition of hydroelectric power plants in the United States and Canada, Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial and commercial companies.
Forward-Looking Statements
This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forwardlooking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com, along with risks relating to the Offering and the intended use of proceeds of the Offering; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
For further information, please contact:
Dave B. Gagnon Chief Executive Officer and Chairperson of the Board
CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Email: dg@charbone.com
Daniel Charette Chief Operating Officer
CHARBONE Hydrogen Corporation
Telephone: +1 514 980 5841 Email: dc@charbone.com
Brossard, Québec, March 13, 2023 – CHARBONE HYDROGEN Corporation (TSXV:CH,
OTCQB:CHHYF, FWB:K47) (“Charbone”) announced today that the Management has been invited to present at the Industrial Tech Virtual Conference, presented by Maxim Group LLC (“Maxim”) and hosted by M-Vest, on Tuesday, March 21st 2023 at 2:30 p.m. ET.
New technology combined with emerging trends in multiple industrial sectors will continue to create both opportunities and challenges for most of the companies participating in the virtual industrial conference. The conference will highlight emerging sector trends and margin and revenue opportunities.
This conference will be live on M-Vest. To attend, just sign up to become an M-Vest member.
Click Here to Reserve your seat
Charbone has engaged Maxim as its financial advisor and investment banker to provide general financial advisory and investment banking services in the United States of America for an initial term of one year. In connection with the engagement, Charbone granted Maxim 860,449 options to acquire up to 860,449 common shares, at an exercise price of US $1.00 per share, for a period of one year. 50% of the options shall be exercisable six months following the engagement, and the remaining 50% shall be exercisable one year following the execution of this engagement.
About Charbone Hydrogen Corporation
Charbone is a Canadian green hydrogen company established in North America. The company’s strategy consists of developing modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States and in Canada, Charbone intends to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial companies.
Forward-Looking Statements
This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACTS CHARBONE
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chief Operating Officer Chairperson of the Board
Charbone Hydrogen Corporation Charbone Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: +1 514 980 5841 Email: dg@charbone.com Email: dc@charbone.com
Secretary
Brossard, Québec, February 28, 2023 – CHARBONE HYDROGEN CORPORATION (TSXV:CH, OTCQB:CHHYF, FWB:K47) (“Charbone”) announces that it has amended, on February 27, 2023, certain terms and conditions to the Purchase and Sale Agreement (the “PSA”), signed January 17, 2023. The amendment postpones the closing date to allow the lender to complete its due diligence and to submit their final proposed financing terms and conditions to Charbone. The acquisition of Tower Kleber Limited Partnership (“TKLP”), a Michigan Limited Partnership and Black River Limited Partnership (“BRLP” and collectively with TKLP, the “Limited Partnerships”), is now expected to close on or before May 15, 2023, subject to customary closing conditions including the receipt by Charbone of satisfactory financing.
The transaction is between its wholly-owned subsidiary, Charbone Corporation USA (“Charbone USA”), and NORTHWOODS HYDROPOWER INC. (“Northwoods”), for the acquisition of all of the general partner and limited partner interests of the Limited Partnerships, respectively the owner of the Tower 560 kW, Kleber 1,200 kW and Alverno 1,000 kW operating hydropower plants in the Onaway, Michigan area (the “Michigan Plants”).
The Limited Partnerships have the capacity to produce 2,760 kW of hydropower. The Michigan Plants are generating revenues under long-term Power Purchase Agreement for the sale of energy, as well as earning revenues from the sale of capacity and Renewable Energy Credits.
About Charbone
Charbone is a Canadian green hydrogen company established in North America. The company’s strategy consists of developing modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States and in Canada, Charbone intends to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial companies.
About Northwoods
Northwoods, Wolf River Hydro Limited Partnership, Tower Kleber Limited Partnership and Black River Limited Partnership are U.S. based businesses, wholly owned by a Canadian family, that have been operating the Michigan and the Wisconsin hydropower plants for over 20 years.
Forward-Looking Statements
This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chairperson of Chief Operating Officer the Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: +1 514 980-5841 Email: dg@charbone.com Email: dc@charbone.com
Brossard, Québec, February 21, 2023 – CHARBONE HYDROGEN CORPORATION (TSXV: CH, OTCQB: CHHYF, FWB:K47) (“Charbone”) is pleased to announce that it has concluded the final negotiations and executed a special construction agreement based on a hybrid model between a “Cost-Plus Contract” and an “Integrated Project Delivery” agreement (the “Agreement”), between its wholly owned subsidiary, Charbone Hydrogène Québec Inc. (“Charbone QC”), and Construction Sorel Ltée. (“Construction Sorel”). Securing this Agreement was the final item included in Charbone QC’s construction budget for a fast-track components integration, pre-construction activities, and site construction of its first green hydrogen Phase I facility in Sorel-Tracy, Quebec.
The parties decided on a hybrid construction model for the Agreement to ensure that the teams will prioritize collaboration and promote a sense of ownership and teamwork as all the parties involved will need to work together to achieve the desired on-site results within the timeframe and budget associated with the project. Charbone QC has already procured the necessary major components from its selected suppliers, and we anticipate that they will be ready for delivery to Construction Sorel for the integration work in the first week of March 2023. Charbone QC’s engineering team, BBA, is responsible for the design/engineering, and Construction Sorel is responsible for the modular integration of the major components and coordination of all the site work with its sub-contractors.
“The execution of this Agreement is crucial for our first construction project. Construction Sorel is an established local company that works on all kinds of industrial projects. Being able to work on a cost-plus project and have transparency and openness from a great local partner when establishing our facilities is very important for Charbone; hiring locally is in our DNA,” said Dave B. Gagnon, Chairman and CEO of Charbone. “Charbone’s strategy to produce its green hydrogen from modular and scalable facilities allows us to fast track the project in a timely and cost-efficient manner which will shorten the installation and commissioning process and allow us to accelerate our first kilogram production”.
“Construction Sorel is excited to participate in such an innovative project in our region,” said Sylvain Descheneaux, President at Construction Sorel. “We are pleased to have been selected by Charbone to integrate and built the initial phase I of this facility, which is literally in our back yard. We believe that this is a great project to start a collaboration in the energy transition, sharing the same community involvement is very important to us, and we recognize that Charbone management shares this community vision this with us”.
About Charbone
Charbone is a Canadian green hydrogen company established in North America. The company’s strategy consists of developing modular and expandable hydrogen facilities. Through the acquisition of hydropower plants in the United States and in Canada, Charbone intends to produce green dihydrogen molecules using reliable and sustainable energy to distinguish itself as a supplier of an environmentally friendly solution for industrial and commercial companies.
Forward-Looking Statements
This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
Dave B. Gagnon Daniel Charette Chief Executive Officer and Chairperson of Chief Operating Officer the Board
CHARBONE Hydrogen Corporation CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Telephone: 1 514 980 5841 Email: dg@charbone.com Email: dc@charbone.com
Brossard, Québec, February 1, 2023 – Charbone Hydrogen Corporation (TSXV:CH) (OTCQB: CHHYF) (FWB: K47) (“Charbone” or the “Company”) is pleased to announce that it has successfully listed its common shares on the OTCQB Venture Market (“OTCQB”). The listing has been approved by OTC Markets Group Inc., and the Company’s common shares commenced trading on the OTCQB effective on Thursday, January 26, 2023. Charbone’s common shares trade under the symbol “CHHYF”. According to OTC Markets Group Inc., the OTCQB offers investors transparent, high-quality trading in entrepreneurial and development stage companies which provides investors with improved market visibility to enhance trading liquidity. OTCQB is recognized as an established public market by the U.S. Securities and Exchange Commission. To be eligible for trading on the OTCQB, companies must be current in their reporting with the U.S. Securities and Exchange Commission, maintain audited financials through a Public Company Accounting Oversight Board (PCAOB) registered firm, and undergo an annual verification and management certification process.
“We believe this listing on the OTCQB will position the Company to achieve greater exposure to a broader investor base,” stated Dave B. Gagnon, CEO of Charbone. “This is a very positive milestone and achievement for the Company and our shareholders.”
About Charbone
Charbone is a Canadian green hydrogen group established in North America. The company’s strategy is to develop modular and expandable hydrogen facilities and regional hubs. With the acquisition of hydroelectric power plants in the United States and Canada, Charbone will be able to produce green dihydrogen molecules using reliable and sustainable energy in order to distinguish itself as a supplier of an ecological solution for industrial and commercial companies.
Forward-Looking Statements
This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forwardlooking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com, along with risks relating to the Offering and the intended use of proceeds of the Offering; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
For further information, please contact:
Dave B. Gagnon Chief Executive Officer and Chairperson of the Board
CHARBONE Hydrogen Corporation
Telephone: +1 450 678-7171 Email: dg@charbone.com
Daniel Charette Chief Operating Officer
CHARBONE Hydrogen Corporation
Telephone: +1 514 980 5841 Email: dc@charbone.com
