Hydrogen company, CHARBONE, declares replacement of $2M in Convertible Debentures
Charbone Corporation Announces Replacements for Debentures
Charbone Corporation, specializing in Ultra High Purity (UHP) hydrogen and the strategic distribution of industrial gases, has announced the signature of Replacement Debentures worth $2,050,000.
The announcement was made on September 18, 2025, although the board member who made the announcement remains unspecified. The new Replacement Debenture has amended certain terms of the secured convertible debentures of the Corporation issued in a private placement of debentures.
The convertible balance of the Debentures has moved from $1.7 million to $2.1 million. The annual rate of the Replacement Debenture remains at 12%, payable monthly. The maturity date of the Debentures has been extended from September 30 and October 31, 2025, to September 30, 2026.
Benoit Veilleux, the Chief Financial Officer and Corporate Secretary of Charbone Corporation, stated that the changes to the existing debentures provide new financing flexibility. The conversion price of the Debentures under the new Replacement Debenture is $0.07 per Debenture Share.
Charbone's strategy with these changes is to diversify revenue streams, reduce risks, and increase flexibility. The Corporation is also working towards optimizing its capital structure and advancing its first-mover advantages as well as its shareholder interests.
Charbone is publicly listed in North America and Europe on the TSX Venture Exchange (TSXV: CH, OTC: CHHYF), the OTC Markets (OTCQB: CHHYF), and the Frankfurt Stock Exchange (FSE: K47). The new Replacement Debenture is subject to the approval of the TSX Venture Exchange.
It's important to note that this news release contains forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. Charbone undertakes no obligation to publicly update or revise forward-looking information. Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
The contact information for Charbone Corporation is available on their website, and Benoit Veilleux can be reached as the Chief Financial Officer and Corporate Secretary.
Charbone is developing a modular network of green hydrogen production and partners with industry players to supply helium and other specialty gases. The Corporation's focus remains on green hydrogen production and distribution.
This news provided in this article is from TheNewswire via QuoteMedia.
