FuelPositive Announces Closing of Non-Brokered Private Placement
09 Février 2024 - 9:10PM
FuelPositive Corporation (TSX.V: NHHH) (OTCQB: NHHHF) (the
“
Company”) is pleased to announce that it has
closed a final tranche of its non-brokered private placement (the
“
Offering”) and has issued 9,961,909 units (each,
a “
Unit”) at a price of $0.055 per Unit, for
aggregate gross proceeds of $547,905. Each Unit consists of one
common share of the Company and one common share purchase warrant
(each, a “
Warrant”) allowing holders to purchase
an additional common share at a price of $0.07 until February 9,
2029.
When combined with the first tranche of the
Offering, the Company has raised gross proceeds of $1,897,905
through the issuance of 34,507,363 Units. The net proceeds from the
Offering will be utilized for general working capital purposes.
In connection with closing of the final tranche
of the Offering, the Company issued 525,000 Warrants and paid
$28,875 to certain arms-length parties who assisted in introducing
subscribers to the Offering. All securities issued in the final
tranche of the Offering are subject to a statutory hold period
until June 10, 2024, in accordance with applicable securities
laws.
About FuelPositive Corporation
FuelPositive Corporation is at the forefront of
Canadian technology and is committed to delivering sustainable,
environmentally responsible Green Ammonia solutions. Our innovative
approach includes on-farm/on-site, containerized Green Ammonia
production systems, effectively eliminating carbon emissions.
Our commercial Green Ammonia systems are
versatile, serving multiple applications, including fertilizer for
farming, fuel for grain drying, internal combustion engines, and
hydrogen storage for fuel cells and other sectors.
Our main customer base consists of farmers, who
currently utilize 80% of the global ammonia production. We address
their nitrogen fertilizer needs while advocating for environmental
change.
Our Canadian company leverages Canada’s
expertise in technology and environmental stewardship to empower
communities worldwide against food insecurity. We’re shaping a more
resilient future for generations through collaboration and
innovation.
FuelPositive: Fuel for a Mindful World.
FuelPositive Corporation is based in Waterloo
(Canada) and trades on the TSX Venture Exchange under the symbol
NHHH and in the USA on the OTCQB under the symbol NHHHF.
For further information, please contact:
Ian CliffordChief Executive Officer and Board
ChairIan@fuelpositive.com www.fuelpositive.com
Investor Relations United States & International:RB
Milestone Group (RBMG) fuelpositive@rbmilestone.com
Investor Relations Canada: Transcend Capital Inc.
et@transcendcapitalinc.com
Cautionary Statement
Trading in the securities of the Company should
be considered highly speculative. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain
“forward-looking information” and “forward-looking statements”
(collectively, “forward-looking statements”) that are based on
expectations, estimates and projections as of the date of this news
release. The information in this release about future plans and
objectives of the Company, including the expected expenditures of
the proceeds of the private placement, are forward-looking
statements.
These forward-looking statements are based on
assumptions and estimates of management of the Company at the time
they were made and involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by the Company as of the time of such
statements, are inherently subject to significant business,
economic and competitive uncertainties and contingencies. These
estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies
can directly or indirectly affect and could cause, actual results
to differ materially from those expressed or implied in any
forward-looking statements. There can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements.
Forward-looking information is provided for the
purpose of providing information about management’s expectations
and plans relating to the future. The Company disclaims any
intention or obligation to update or revise any forward-looking
information or to explain any material difference between
subsequent actual events and such forward-looking information,
except to the extent required by applicable law.
FuelPositive (TSXV:NHHH)
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