Next Hydrogen Solutions Inc. Announces Private Placement of Unsecured Convertible Debentures
Summary
The holders of the Debentures may elect to convert the principal and all accrued, but unpaid interest under the Debenture into that amount of common shares of the Company (Common Shares), computed on the basis of the outstanding principal and all accrued, but unpaid interest under the Debenture divided by $1.00 per Common Share.The closing of the Offering is expected to take place on November 29, 2024, or such other date(s) as the Company may determine.Next Hydrogen intends to use the proceeds of the Offering to invest in their scale-up efforts and for general corporate purposes.The Debentures will be direct, unsecured, subordinated obligations of the Company and will rank equally and rateably with all other existing and future unsecured indebtedness of Next Hydrogen to the extent subordinated on the same terms. The Debentures are being offered on a private placement basis in Canada and in offshore jurisdictions in reliance upon exemptions from the prospectus requirements under applicable securities legislation.All moneys quoted in this press release shall be stated and paid in the lawful money of Canada.The Debentures have not been and will not be qualified for sale to the public under applicable securities laws in Canada, and accordingly, any offer and sale of the Debentures in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors.Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.This news release contains forward-looking information and forward-looking statements. Such factors include, but are not limited to: the risk that the Offering will not be completed as planned or at all; the risks associated with the hydrogen industry in general; delays or changes in plans with respect to infrastructure development or capital expenditures; uncertainty with respect to the timing of any contemplated transactions or partnerships, or whether such contemplated transactions or partnerships will be completed at all; the timing for any submissions or correspondences with applicable securities laws regulators; whether the uncertainty of estimates and projections relating to costs and expenses; failure to obtain timely necessary regulatory approvals and all required TSXV approvals; health, safety and environmental risks; uncertainties resulting from potential delays or changes in plans with respect to infrastructure developments or capital expenditures; currency exchange rate fluctuations; as well as general economic conditions, stock market volatility; and the ability to access sufficient capital. Except as required by law, there will be no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.