FuelPositive Announces Closing of First $3.5 Million Tranche of Private Placement and Debt Conversion

WATERLOO, Ontario, June 21, 2023 (GLOBE NEWSWIRE) -- FuelPositive Corporation (TSX.V: NHHH) (OTCQB:NHHHF) (the “Company”), a leading Green Ammonia company is pleased to announce that it has completed the first tranche of its $7,500,000 non-brokered private placement and has issued 53,870,699 units (each, a “Unit”), at a price of $0.065 per Unit, for gross proceeds of $3,501,595. Each Unit consists of one common share of the Company and one common share purchase warrant (each, a “Warrant”), allowing holders to purchase an additional common share at an exercise price of $0.09 until June 21, 2026. In the event the volume-weighted average closing price of the Company's common shares on the TSX Venture Exchange exceeds $0.40 for ten consecutive trading days, the Company retains the option to accelerate the expiry date of the Warrants to thirty days after a public announcement of the election.