FuelPositive Corp (NHHHF)

[Paulness]

NEWS -- Fuelpositive corrects number of units issued in tranche

2023-08-24 19:25 ET - News Release



Mr. Ian Clifford reports

FUELPOSITIVE PROVIDES MINOR CORRECTION ON CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT

Fuelpositive Corp. has provided an update to disclosure in its news release of July 19, 2023, announcing closing of the second tranche of its private placement. In connection with closing of the second tranche of the placement, the company issued 31,473,069 units, at a price of 6.5 cents per unit, for gross proceeds of $2,045,750, and not 31,443,069 units for gross proceeds of $2,043,800, as previously indicated.

The proceeds from the private placement will be utilized for further development of demonstration systems for the commercial production of green ammonia, and for general working capital purposes.

About Fuelpositive Corp.

Fuelpositive is a Canadian technology company committed to providing commercially viable and sustainable, cradle-to-cradle clean technology solutions, including an on-farm/on-site, containerized green ammonia (NH3) production system that eliminates carbon emissions from the production of green ammonia.

By focusing on technologies that are clean, sustainable, economically advantageous and realizable, 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/on-site, 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/on site, 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 the production process. The first customers will be farmers. Farmers use 80 per cent of the traditional grey ammonia produced today as fertilizer.

We seek Safe Harbor.

© 2023 Canjex Publishing Ltd. All rights reserved.