Wedoany.com Report-Dec 25,Vancouver, British Columbia-- Primary Hydrogen Corp. (TSXV: HDRO) (the "Company" or "Primary") is pleased to announce that it has completed its previously announced non-brokered private placement (the "Private Placement") of 1,875,000 units of the Company ("FT Units") at a price of $0.40 per FT Unit to raise proceeds of $750,000.
Each FT Unit consists of one common share of the Company (a "FT Share") issued as a "flow-through share" within the meaning of within the meaning of the Income Tax Act (Canada) and one half of a common share purchase warrant (each whole warrant, a "Warrant") each of which is exercisable to acquire one common share for 18 months following closing at an exercise price of $0.55.
Proceeds from the Private Placement will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act (Canada) on the Company's properties. All securities issued pursuant to the Private Placement are subject to a statutory four month hold period expiring on April 21, 2025.
About Primary Hydrogen Corp.
Primary Hydrogen Corp. is a natural hydrogen exploration company with an extensive portfolio of properties covering over 210 square kilometres across Canada including the Blakelock and Hopkins projects in Ontario, the Mary's Harbour project in Labrador, the Point Rosie project in Newfoundland, and the Crooked Amphibolite, Coquihalla, and Cogburn projects in BC. The Company also holds the Arthur Lake copper project in British Columbia.
