Charbone Hydrogen announces $2M convertible debentures replacement
Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) announced that it has entered into a replacement debenture agreement totaling $2.05 million, amending the terms of its previously issued secured convertible debentures.
The company originally issued $1.75 million in 12% secured convertible debentures through a private placement.
Those securities were set to mature in September and October 2025 and were convertible into common shares of Charbone at a price of $0.10 per share.
Under the amended terms, which take effect on September 30, 2025, the maturity date has been extended to September 30, 2026.
The convertible balance increases to $2.1 million, while the annual interest rate remains at 12%, payable monthly.
The conversion price has been reduced from $0.10 to $0.07 per share.
Charbone’s chief financial officer Benoit Veilleux said in a statement:
These changes announce today to the existing debentures is providing a new financing flexibility to Charbone by extending significantly the maturities and provide us with additional financing to complete and execute the acquisition of the operational hydrogen production and refueling equipment, announced on September 5, 2025,
“As we gain momentum, we are continuously working towards optimizing our capital structure and advance our first-mover advantages as well as our shareholder interests.”
Charbone said the replacement debenture is subject to approval by the TSX Venture Exchange.
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Charbone Hydrogen announces $2M convertible debentures replacement, source
