FuelPositive (TSX.V: NHHH) (OTCQB: NHHHF), a Canadian-based, growth-stage company committed to providing commercially viable and sustainable, cradle-to-cradle, clean-energy solutions, has closed on the final tranche of its nonbrokered private placement. As part of the transaction, the company issued 9,961,909 units at $0.055 per unit, with a unit comprising one common share and one common share purchase warrant; the warrant allows holders to purchase an additional common share at $0.07 until Feb. 9, 2029. Gross proceeds for the placement totaled $547,905. “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,” said the company in the press release. “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.”
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About FuelPositive Corporation
FuelPositive is at the forefront of Canadian technology and is committed to delivering sustainable, environmentally responsible green ammonia solutions. The company’s innovative approach includes on-farm/on-site, containerized green ammonia production systems, effectively eliminating carbon emissions. FuelPositive’s 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. The company’s main customer base consists of farmers, who currently utilize 80% of the global ammonia production. FuelPositive leverages Canada’s expertise in technology and environmental stewardship to empower communities worldwide against food insecurity. The company is working to shape a more resilient future for generations through collaboration and innovation. For more information about the company, visit www.FuelPositive.com.
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