WINNIPEG, MB, Jan. 15,
2025 /CNW/ - FuelPositive Corporation (the
"Company" or "FuelPositive") (TSXV: NHHH)
(OTCQB: NHHHF) today announced that due to end-of-year logistical
considerations, the Board of Directors has revised the date for the
company's Annual General Meeting (AGM). The AGM will now be held on
Tuesday, March 18, 2025, at
4:00 PM Eastern Time.
The AGM will be conducted virtually, ensuring accessibility for
all shareholders. Shareholders are invited to send any questions
they would like addressed during the management update part of the
meeting. Questions can be submitted in advance via email to the
Company at info@fuelpositive.com.
FuelPositive stays committed to keeping its shareholders
informed and engaged. Further details, including access
instructions for the virtual AGM, will be provided in a management
information circular to be distributed to shareholders of record
closer to the meeting date.
Debt Settlement
The Company also announces that it will settle outstanding
indebtedness (the "Indebtedness") totaling US$50,000 through the issuance of 2,394,167 units
(each, a "Unit") at a deemed price of $0.03 per Unit. The Indebtedness is owing
by the Company to an arm's-length service provider.
Each Unit consists of one common share of the Company and one
common share purchase warrant (each, a "Warrant").
Each Warrant will be exercisable at a price of $0.05 for a period of sixty months, provided that
in the event the ten-day volume-weighted average closing price of
the common shares of the Company on the TSX Venture Exchange
exceeds $0.40, the Company will have
the right to accelerate the expiry of the Warrants.
All securities issued in connection with the debt settlement
will be subject to restrictions on resale for a period of
four-months-and-one-day in accordance with applicable securities
laws.
The Company also notes that it continues to actively advance the
non-brokered private placement of up to 26,666,667 Units at a price
of $0.03 per Unit, and as well as the
settlement of additional indebtedness totaling $278,940.51 through the issuance of 9,298,017
Units at a deemed price of $0.03 per
Unit, as previously announced on December
4, 2024. Completion of the private placement and the
debt settlement remain subject to the approval of the TSX Venture
Exchange.
About FuelPositive Corporation
FuelPositive is leading the future of agriculture with the
world's first farmer-owned, on-farm Green Ammonia production
systems. The Company's modular and innovative technology offers a
predictable, reliable, and affordable solution for directly
producing green fertilizer and fuel on-farm, reducing reliance on
external supply chains.
Groundbreaking AgTech and Green Energy:
FuelPositive's containerized Green Ammonia production systems
are transforming the Green Ammonia industry by decentralizing
production. This new fertilizer production approach aims to empower
farmers to generate green nitrogen fertilizer and carbon-free fuel
on-site, ensuring stable costs and supply. Each ton of ammonia
produced by FuelPositive systems eliminates up to 2 tons of CO2e
emissions, providing an environmentally sustainable solution that
is also easily accessible and remotely monitored, enabling farmers
to focus on their operations without added complexity.
First System Delivery: A Milestone in Sustainable
Agriculture:
In June 2024, FuelPositive
delivered its first commercial system, the FP300, to Tracy and Curtis
Hiebert's 11,000-acre grain farm near Sperling, Manitoba. This milestone marks a
significant advancement for both FuelPositive and sustainable
agriculture. The system activation this fall will further
demonstrate the transformative impact of the Company's technology
on farming practices, driving a more sustainable future.
Manitoba: A Global Center of
Excellence:
FuelPositive is positioning Manitoba as a leader in
decentralized Green Ammonia production. The Company's
vision includes establishing a world-leading manufacturing hub that
will generate highly skilled engineering, science, and trade jobs
and contribute to the local economy over the coming years.
See sales details here: https://fuelpositive.com/sales/.
FuelPositive Corporation is based in Ontario and Manitoba
(Canada) and trades on the TSX Venture Exchange under the
symbol NHHH and in the USA on the
OTCQB under the symbol NHHHF.
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 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 to provide 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.
SOURCE FuelPositive Corp.