Candian Hydrogen Corp Plans to Sell $96 Million of Shares

CALGARY, Alberta, Aug 2 (Reuters) – Canadian Hydrogen Corp said on Tuesday it plans to raise about C$125 million ($96.1 million) through a bought deal offering of common shares.

The company said it has agreed to sell 25 million common shares at a price of C$5.00 per share to a syndicate of underwriters led by Cormark Securities Inc.

The company said it intends to use the net proceeds from the offering for working capital and general corporate purposes, including research and development, technology acquisition and commercialization, and strategic partnerships.

The offering is expected to close on or about Aug. 11, 2022, subject to regulatory approvals, including the approval of the Toronto Stock Exchange.

($1 = 1.3015 Canadian dollars) (Reporting by Arshdeep Singh Chawla in Bengaluru; Editing by Aditya Soni).

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