Primary Hydrogen Corp. is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of up to 1,875,000 units of the Company ("FT Units") at a price of $0.40 per FT Unit to raise gross proceeds of up to $750,000.
Each FT Unit consists of one common share of the Company (a "FT Share") to be 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 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.
