On February 2, 2024, Charbone Hydrogen Corporation closed the transaction. The company issued 16,992,440 units at an issue price of CAD 0.05 per unit for gross proceeds of CAD 849,622. Each unit consists of one common share of the Company and one common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of CAD 0.05 for a period of 12 months following the closing date of the Offering. The Company paid a finder?s fee of CAD 29,300 and issued 586,000 finder?s warrants to a registered dealer in connection with sale of certain Units to a qualified subscriber introduced to the Company by such dealer.

On February 9, 2024, the company announced that the transaction has been approved by the TSX Venture Exchange. The transaction included participation from 42 placees. The company has received $114,610 (CAD 153,623.244) from 8 investors pursuant to exemption provided under Regulation D.