FuelPositive Announces Closing of Non-Brokered Private Placement

WATERLOO, Ontario, Feb. 09, 2024 (GLOBE NEWSWIRE) -- FuelPositive Corporation (TSX.V: NHHH) (OTCQB: NHHHF) (the “Company”) is pleased to announce that it has closed a final tranche of its non-brokered private placement (the “Offering”) and has issued 9,961,909 units (each, a “Unit”) at a price of $0.055 per Unit, for aggregate gross proceeds of $547,905. 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 until February 9, 2029.

When combined with the first tranche of the Offering, the Company has raised gross proceeds of $1,897,905 through the issuance of 34,507,363 Units. The net proceeds from the Offering will be utilized for general working capital purposes.

In connection with closing of the final tranche of the Offering, the Company issued 525,000 Warrants and paid $28,875 to certain arms-length parties who assisted in introducing subscribers to the Offering. All securities issued in the final tranche of the Offering are subject to a statutory hold period until June 10, 2024, in accordance with applicable securities laws.

About FuelPositive Corporation

FuelPositive Corporation is at the forefront of Canadian technology and is committed to delivering sustainable, environmentally responsible Green Ammonia solutions. Our innovative approach includes on-farm/on-site, containerized Green Ammonia production systems, effectively eliminating carbon emissions.

Our commercial Green Ammonia systems are versatile, serving multiple applications, including fertilizer for farming, fuel for grain drying, internal combustion engines, and hydrogen storage for fuel cells and other sectors.

Our main customer base consists of farmers, who currently utilize 80% of the global ammonia production. We address their nitrogen fertilizer needs while advocating for environmental change.

Our Canadian company leverages Canada’s expertise in technology and environmental stewardship to empower communities worldwide against food insecurity. We’re shaping a more resilient future for generations through collaboration and innovation.

FuelPositive: Fuel for a Mindful World.

FuelPositive Corporation is based in Waterloo (Canada) and trades on the TSX Venture Exchange under the symbol NHHH and in the USA on the OTCQB under the symbol NHHHF.

For further information, please contact:

Ian Clifford
Chief Executive Officer and Board Chair
[e-mail]