FuelPositive Announces CAD$7 Million Private Placement with U.S. Institutional Investors
October 22 2021 - 8:00AM
FuelPositive Corporation (“FuelPositive” or the “Company”)
(TSX.V: NHHH) (OTCQB: NHHHF) is pleased to announce it has
entered into a subscription agreement with certain U.S.
institutional investors for gross proceeds of approximately CAD$7
million in a private placement in the United States, comprised of
30,434,784 common shares and warrants to purchase an aggregate of
up to 30,434,784 common shares at a purchase price of CAD$0.23 per
common share and associated warrant. The warrants have an exercise
price of CAD$0.255 per common share and exercise period of three
years. The net proceeds of the private placement will be used by
the Company to increase the number of available FuelPositive
carbon-free ammonia systems to deploy into high profile
demonstration projects throughout 2022 and for general corporate
purposes.
The private placement is expected to close on or
about October 26, 2021, subject to satisfaction of customary
closing conditions and approval of the TSX Venture Exchange.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the private placement in the United
States.
No securities were offered or sold to Canadian
residents in connection with the private placement.
This news release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
This news release shall not constitute an offer of securities for
sale in the United States. The securities being offered have not
been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and such securities may not be
offered or sold within the United States absent registration under
U.S. federal and state securities laws or an applicable exemption
from such U.S. registration requirements.
About FuelPositive
FuelPositive is a Canadian growth-stage
technology company committed to providing commercially viable and
sustainable “cradle to cradle” clean energy solutions, including
carbon-free ammonia (NH3), for use across a broad spectrum of
industries and applications.
By focusing on technologies that are clean,
economically advantageous/realizable and that leverage existing
infrastructure, the Company aims to change the course of climate
change through practical solutions that can be implemented now.
The Company’s core technology, a modular and
scalable carbon-free NH3 system, takes air, water and sustainable
electricity and synthesizes it into a non-polluting chemical for
multiple applications, including fertilizer for farming, fuel for
internal combustion engines and a solution for grid storage. It is
being considered as a replacement for fossil fuels and as a key
enabler of the hydrogen economy.
Cautionary Statement
Trading in the securities of the Company should
be considered highly speculative. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain
“forward-looking information” and “forward-looking statements”
(collectively, “forward-looking statements”) that are based on
expectations, estimates and projections as at the date of this news
release. The information in this release about future plans and
objectives of the Company, including the intention to complete the
private placement and the expected expenditures of the proceeds of
the private placement, are forward-looking statements.
This forward-looking statements are based on
assumptions and estimates of management of the Company at the time
they were made and involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Forward looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by the Company as of the time of such
statements, are inherently subject to significant business,
economic and competitive uncertainties and contingencies. These
estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies
can directly or indirectly affect, and could cause, actual results
to differ materially from those expressed or implied in any
forward-looking statements. There can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements.
Forward-looking information is provided for the
purpose of providing information about management’s expectations
and plans relating to the future. The Company disclaims any
intention or obligation to update or revise any forward-looking
information or to explain any material difference between
subsequent actual events and such forward-looking information,
except to the extent required by applicable law.
For Media or Investor enquiries, please
contact:
Mr. Ian CliffordChief Executive
Officermailbox1@fuelpositive.com
Investor Relations (United States)RBMG – RB Milestone Group
LLCTrevor Brucato, Managing
Directorfuelpositive@rbmilestone.comwww.rbmilestone.com
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