FuelPositive (TSX.V: NHHH) (OTCQB: NHHHF), a leading green ammonia company, provided an update on the second tranche of a CA$3 million non-brokered private placement. The company noted that further to its earlier news release in connection with the closing of the first tranche (CA$1.5 million) of the offering, the TSX Venture Exchange has extended the deadline for the completion of the offering. FuelPositive anticipates completing the final tranche of the offering before June 24, 2024. In addition, the company announced it will settle further outstanding debt totaling $27,500 to an arms-length creditor. The company plans to issue 500,000 units at a deemed price of $0.055 per unit. Each unit will consist of one common share of the company as well as one share purchase warrant exercisable at a price of $0.07 for a period of sixty months. Completion of the debt settlement remains subject to the approval of the TSX Venture Exchange.
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About FuelPositive Corporation
FuelPositive is a Canadian technology company dedicated to delivering commercially feasible and sustainable clean technology solutions that follow a circular approach, ensuring the entire lifecycle of its products is environmentally friendly. This includes an on-farm/onsite, containerized green ammonia (“NH3”) production system that effectively eliminates carbon emissions during the production process. By focusing on clean, sustainable, economically advantageous and realizable technologies, the company aims to help mitigate climate change, addressing unsustainable agricultural practices through innovative technology and practical solutions that can be implemented now. The FuelPositive on-farm/onsite, containerized green ammonia production system is designed to produce pure, anhydrous ammonia for multiple applications, including fertilizer for farming, fuel for grain drying and internal combustion engines, a practical alternative for fuel cells and a solution for grid storage. Green ammonia is also considered a key enabler of the hydrogen economy. FuelPositive systems are designed to provide for green ammonia production on-farm/onsite, where and when needed. This eliminates wildly fluctuating supply chains and offers end-users clean fertilizer, energy and green ammonia supply security while eliminating carbon emissions from production. The first customers will be farmers. Farmers use 80% of the traditional grey ammonia produced today as fertilizer. See details at https://fuelpositive.com/pre-sales.
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