FuelPositive (TSX.V: NHHH) (OTCQB: NHHHF), a leading green ammonia company, today announced that it has closed the first tranche of its non-brokered private placement (the “offering”). In connection with completion of the first tranche, the company has issued 28,123,818 units, each at a price of $0.055, for gross proceeds of $1,546,810. Each unit consists of one common share of the company and one common share purchase warrant (each, a “warrant”) allowing holders to purchase an additional common share at a price of $0.07 for a period of sixty months. FuelPositive anticipates completing a further tranche of the offering to raise total proceeds of up to $3,000,000 and will provide further details as soon as all participation has been finalized. The company intends to use the net proceeds from the offering for general working capital purposes.
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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 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/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 the production process. The first customers will be farmers. Farmers use 80% of the traditional grey ammonia produced today as fertilizer. See pre-sale details at https://fuelpositive.com/pre-sales.
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