Primary Hydrogen Corp. Announces Private Placement for Exploration Projects
Key Ideas
  • Primary Hydrogen Corp. plans a non-brokered private placement to raise up to C$2,000,000 for exploration activities and general working capital.
  • The Private Placement consists of flow-through and non-flow through units with specific terms for warrant exercise and share acquisition.
  • Proceeds from the Non-FT Units will be allocated to general working capital, while funds from the FT Units will support Critical Mineral Canadian Exploration Expenses.
  • The Company's extensive portfolio includes hydrogen projects in the U.S. and Canada, showcasing its commitment to developing natural hydrogen resources.
Primary Hydrogen Corp., based in Calgary, Alberta, has announced its intention to complete a non-brokered private placement to raise up to C$2,000,000. The Private Placement comprises two parts: flow-through units at $0.48 per unit and non-flow through units at $0.40 per unit. The Company plans to use the proceeds from the sale of the Non-FT Units for general working capital and those from the FT Units to incur Critical Mineral Canadian Exploration Expenses. The offering is subject to standard closing conditions and regulatory approvals. Primary Hydrogen Corp. is dedicated to exploring and developing natural hydrogen resources, with a significant presence in both the U.S. and Canada. Their portfolio includes various projects such as Blakelock, Hopkins, Mary's Harbour, Point Rosie, Crooked Amphibolite, Coquihalla, and Cogburn, along with the Arthur Lake copper project in British Columbia. Additionally, the Company holds an option to acquire a 75% interest in the hydrogen-REE project Wicheeda North in British Columbia. The release includes a cautionary note on forward-looking information, highlighting the risks associated with the Private Placement and exploration activities. The Company acknowledges the uncertainties that may impact the successful completion of the offering and the execution of their exploration plans. Readers are advised to consider these risks as stated in the Company's management's discussion and analysis. Despite the risks, the Company remains optimistic about its projects and the potential for developing natural hydrogen resources in their extensive portfolio.
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