On January 23, 2023, CHARBONE Hydrogen Corporation closed the transaction. The company has issued 4,628,335 units at an issue price of CAD 0.12 per unit for gross proceeds of CAD 555,400.02 in its third and final tranche, the company has issued total 9,980,004 units for aggregate proceeds of CAD 1,197,600.48 in the transaction. At the closing date, the company engaged to pay a finder?s fee of CAD 2,880 plus to issue 24,000 finder?s warrants to a registered finder in connection with sale of units to a qualified subscriber introduced to the company by such finder. All securities issued pursuant to the offering are subject to a statutory four month and one day hold period in Canada following the closing date.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 25 placees. The company paid CAD 3,264 and also issued 27,200 warrants with each warrant entitles the holder to purchase one share at an exercise price of CAD 0.20 for a period of two years following the closing of the private placement.