- FuelPositive (NHHH) announced its upcoming non-brokered private placement to raise up to $7,500,000
- The company will use the net proceeds to further develop the demonstration systems for the commercial production of green ammonia
- FuelPositive is a Canadian technology company, providing commercially viable and sustainable clean technology solutions
- FuelPositive Corporation (TSXV:NHHH) is down 25.93 per cent, trading at C$0.10 per share at 3:25 pm ET
FuelPositive (NHHH) announced its upcoming non-brokered private placement to raise up to $7,500,000.
The offering supports FuelPositive’s unwavering commitment to revolutionizing the Green Ammonia industry by commercializing its sustainable solutions.
The company plans to issue up to 115,384,615 units at $0.065. Each unit will consist of one common share and one common share purchase warrant. Each warrant allows holders to purchase an additional common share at $0.09 within 36 months following the closing date. The offering has an acceleration clause.
Management comment
Ian Clifford, Board Chair and CEO, expressed his support for the offering.
“We are introducing this financing to incorporate the newly implemented ‘Listed Issuer Financing Exemption’ (LIFE). I often get questions on how non-accredited investors can participate in FuelPositive financings. I am pleased that the LIFE structure enables new and existing shareholders, who may not qualify as accredited investors, to participate equally.”
“Additionally, we anticipate that the enhanced liquidity resulting from this offering will contribute to greater growth for the company. The net proceeds will help ensure FuelPositive’s leadership and “first-mover” position in the multi-billion dollar sustainable and green ammonia industry.”
The company will use the net proceeds to further develop the demonstration systems for the commercial production of green ammonia. It will also use part of the proceeds for general working capital purposes.
The securities issued under the Listed Issuer Financing Exemption will not be subject to a hold period. All other securities will be subject to a statutory hold period of four-months.
About FuelPositive
FuelPositive is a Canadian technology company, providing commercially viable and sustainable clean technology solutions. Its core technology is a modular and scalable green ammonia production system. It takes air, water and sustainable electricity to produce a non-polluting chemical for multiple applications. It includes fertilizer for farming, fuel for internal combustion engines, a solution for grid storage, and an enabler of the hydrogen economy.
FuelPositive Corporation (TSXV:NHHH) is down 25.93 per cent, trading at C$0.10 per share at 3:25 pm ET.
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