Primary Hydrogen Corp. Announces Successful Private Placement and Wicheeda Acquisition
Key Ideas
- Primary Hydrogen Corp. closed a non-brokered private placement, raising $1,728,800.00 through the sale of FT and NFT units.
- The Company will use proceeds from the NFT Units for general working capital while funds from the FT Units will be used for Critical Mineral Canadian Exploration Expenses.
- Primary Hydrogen Corp. has received approval to acquire up to a 75% interest in the Wicheeda North project in British Columbia from Power One Resources Corp.
- The Company will issue Common Shares and Warrants as part of the agreement with Power One, subject to a 4-month hold period in accordance with securities laws.
Primary Hydrogen Corp., based in Calgary, Alberta, has successfully closed a non-brokered private placement, generating $1,728,800.00 in gross proceeds. The offering consisted of 2,560,000 flow-through units and 1,250,000 non-flow-through units. The funds from the non-flow-through units will be utilized for general working capital and corporate purposes. On the other hand, the proceeds from the flow-through units will be directed towards incurring Critical Mineral Canadian Exploration Expenses. Additionally, the Company has obtained approval to acquire a significant interest in the Wicheeda North project in British Columbia through an option agreement with Power One Resources Corp. As part of this agreement, Primary Hydrogen Corp. has paid $40,000 and will issue Common Shares and Warrants to Power One. These securities are subject to a 4-month hold period as per securities laws. The Company holds a diverse portfolio across the U.S. and Canada, including projects like Blakelock, Hopkins, Mary's Harbour, and more. Primary Hydrogen Corp. focuses on natural hydrogen resource exploration and development.