Charbone Hydrogen (TSXV:CH) offers a compelling investment opportunity in the US$89 billion green hydrogen market, leveraging a decentralized approach for scalable plant deployment and focusing on environmentally friendly production to reduce carbon footprints.
Charbone Hydrogen (TSXV:CH,OTCQB:CHHYF,FWB:K47) is the only publicly listed green hydrogen firm in Canada looking to expand across North America (US and Canada) with a pipeline of new projects. This is an opportune time for Charbone as the world races to find effective solutions to meet its net-zero ambitions by 2050. Green hydrogen could be a perfect fit as a potentially low-emitting fuel source. There is an increasing realization of the potential of hydrogen in serving as a low-emissions substitute for fossil fuels in residential as well as industrial use cases.
The Government of Canada has laid out its hydrogen policy, aiming to meet nearly 30 percent of its energy requirement in 2050 by hydrogen, as well as become one of the top three clean hydrogen producers globally. The presence of abundant hydroelectric power, favorable government policies, and a progressive tax regime should boost hydrogen production in the country. The 2023 federal budget includes more than $17 billion in tax credits over the next five years to help fund clean energy projects, including hydrogen.
Green hydrogen: key element to decarbonize the world
The US Department of Energy expects to produce 10 million metric tons (MMT) of hydrogen annually by 2030 and eventually reach 50 MMT by 2050. According to US Deputy Secretary of Energy David Turk, 50 MMT of hydrogen could power every bus, train, plane and ship in the US.
Charbone stands to benefit from rapid adoption of hydrogen as an alternative to fossil fuels. Moreover, Charbone’s focus solely on “green hydrogen” should further its position among investors looking for opportunities to invest in sustainable energy solutions. Green hydrogen is produced when the energy used to power electrolysis comes from renewable sources like wind, water, solar or nuclear. Charbone has clearly stated its intentions to leverage hydropower and nuclear energy to produce hydrogen.
Carbone forged strong partnerships to execute its business model.
The company plans to construct 16 hydrogen projects across North America (six in Canada and 10 in the US) over the next four years. The first of which is under construction at Sorel-Tracy in Quebec. The Sorel-Tracy facility is located on a 40,000-square-meter land parcel along Quebec Highway 30, known as the “Steel Highway” because of the numerous steel mills and process plants operating along the highway.
The construction of Phase 1 of its Sorel-Tracy facility is being done in partnership with EBC, one of the largest construction companies in Quebec. EBC has a proven track record of designing and building facilities in Canada and the US. The partnership agreement gives EBC the right of first refusal to construct additional Sorel-Tracy phases, as well as one or all of Charbone’s facilities within the North American market.
In addition, Charbone has entered into several other strategic partnerships all aimed to expand its footprint in North America. The company entered into a special consultancy agreement with Enki GéoSolutions for potential partnership proposals as a co-operator and distributor of an emerging form of clean and renewable hydrogen, known as white or natural hydrogen.
In June 2024, Carbone executed a supply agreement for a complete containerized electrolyzer system ready for shipment to its flagship green hydrogen site in the City of Sorel-Tracy, Quebec. The electrolyzer has a higher capacity than originally planned and will significantly enhance initial operational capacity estimates. The company also acquired its first tube trailer for the transport and bulk delivery of compressed green hydrogen produced from the City of Sorel-Tracy, Quebec flagship project to local and domestic customers.
This partnership allows Charbone to sell hydrogen produced at the Sorel-Tracy facility to Superior Propane, a subsidiary of Superior Plus. Such supply agreements ensure that Charbone can generate cash flow immediately following the commencement of production.
Carbone Hydrogen entered into an off-take partnership with Superior Plus on the supply and
distribution of green hydrogen.
Another such supply agreement was signed in November 2023 with NEK Community Broadband, which ensures the supply of green hydrogen in the Northeast Kingdom of the state of Vermont (USA). NEK Broadband is building a high-speed broadband infrastructure and plans to install a hydrogen fuel cell backup system for a reliable power supply.
Further advancing its goal of US expansion, Charbone signed a memorandum of understanding in December 2023 with Michigan’s Oakland County Economic Development Department to set up Charbone’s first green hydrogen facility in the United States. Oakland County is home to major automakers, and a green hydrogen facility in their proximity will support the effort of producing environmentally friendly mobility options.
Being the only publicly listed green hydrogen player in Canada, Charbone offers investors a unique opportunity to participate in the rise of green hydrogen as a potential low-emitting alternative to fossil fuels.
Dave Gagnon has been chairman and chief executive officer of Charbone Hydrogen Corporation since April 21, 2022. He has been a climate tech entrepreneur for the last 25 years, and was the first entrepreneur in Canada to start a wind turbine company and offer a new alternative energy solution in North America. Gagnon also worked with an institutional investor that manages several public pension plans, Caisse de depot et placement du Quebec, where he gained deep knowledge of the financial markets.
Benoit Veilleux was appointed as the CFO of Charbone on August 15, 2022. Veilleux has over 15 years of experience in corporate accounting and finance. He began his professional career at KPMG in 2003, where he managed and coordinated audit teams for public companies until 2010. Since then, he has worked with a number of companies including Air Liquide Canada and the Hypertec Group.
Daniell Charette has been the chief operating officer of Charbone since February 2019. He brings over 25 years of experience in running and managing renewable energy companies. He has worked in senior leadership roles with several renewable companies including NEG Micon A/S, Vestas and Brookfield Power. He has served on various association boards and councils, including the Canadian Wind Energy Association, Association Québécoise des Producteurs d’Énergie Renouvelable, and Latin Wind Energy Association.
Francois Vitez is a hydropower and energy storage expert with more than 24 years of experience in the development, engineering and construction management as well as operations and maintenance of hydropower and energy storage projects in North America and internationally. He is a board member and chair of the Value of Hydropower committee at Waterpower Canada, vice-chair of the Energy Storage Association of Canada, board member of the California Energy Storage Association, and member of the International Hydropower Association.
Patrick Cuddihy is a seasoned operations leader with over 20 years of experience at Air Liquide Canada, to its hydrogen operations team. Patrick brings a wealth of expertise in managing industrial gas production and distribution, having held senior roles including network sales director for Quebec Region, general manager for Pacific Region, director of procurement services, and director of logistics and assets for the Eastern Region.
(TheNewswire)
 | |||||||||
 |  |  | |||||||
Brossard (Québec) TheNewswire - le 9 octobre 2024 - CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert, est ravie d'annoncer un ajout clé à son équipe des opérations de gaz industriels alors qu'elle se prépare pour la production à son projet phare à Sorel-Tracy, au Québec .
Renforcer les opérations terrain avec un nouveau leadership
Charbone est heureuse d'accueillir Patrick Cuddihy , un leader des opérations chevronné avec plus de 20 ans d'expérience chez Air Liquide Canada, au sein de son équipe des opérations hydrogène. Patrick apporte une richesse d'expertise dans la gestion de la production et de la distribution de gaz industriels, ayant occupé des postes de direction, notamment comme Directeur des ventes réseau – région du Québec, Directeur général – région du Pacifique, Directeur des services d'approvisionnement et Directeur de la logistique et des actifs – région de l'Est .
Son sens opérationnel sera déterminant dans la transition de Charbone d'un développement de projet à la production à grande échelle. Travaillant en étroite collaboration avec l'équipe de direction de Charbone, Patrick soutiendra les opérations et la gestion de la production d'hydrogène vert aux États-Unis et au Canada .
" La vaste expérience de Patrick dans le domaine des gaz industriels, en particulier dans les opérations et la gestion de la chaîne d'approvisionnement, renforcera considérablement notre équipe alors que nous passons de la planification à l'exécution , a déclaré Dave Gagnon, Chef de la direction chez Charbone. " Alors que nous nous préparons à générer nos premiers revenus, nous nous concentrons sur l'augmentation de la valeur des actionnaires grâce à des opérations efficaces et à une croissance stratégique . "
Expansion des opérations et de la main-d'œuvre
La production d'hydrogène vert de Charbone devrait débuter plus tard cette année à son usine de Sorel-Tracy, avec un deuxième site près de Detroit, Michigan prévu d'ici la fin de 2024. Dans le cadre de sa stratégie d'expansion plus large, la Société augmente également ses effectifs et cible de nouvelles opportunités de marché dans des régions clés, notamment New York, l'Ontario, la Pennsylvanie, l'Illinois, le Wisconsin et la Californie.
De plus, Charbone a été invité à participer à deux demandes d'informations (RFI) à grande échelle, démontrant une fois de plus la demande croissante de solutions d'hydrogène vert. D'ici 2030, la société vise à exploiter 16 installations de production d'hydrogène vert en Amérique du Nord.
Invitation au webinaire : Key Insights for Hydrogen Investing
Rejoignez Charbone au webinaire gratuit d'Investing News Network (INN) aujourd'hui, le 9 octobre, où la société discutera du marché en croissance rapide de l'hydrogène et des principales opportunités pour les investisseurs. Ne manquez pas cet événement plein d'énergie ! Inscrivez-vous ici .
À propos de Charbone Hydrogène Corporation
Charbone est une compagnie intégrée de production d'hydrogène vert axé sur la création d'un réseau nord-américain d'usines de production. En utilisant des énergies renouvelables, Charbone produit du dihydrogène (H2) respectueux de l'environnement pour les utilisateurs industriels, institutionnels, commerciaux et de la mobilité future. Charbone est présentement la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert avec ses actions listées sur la Bourse de croissance TSX (TSXV: CH); les marchés OTC (OTCQB: CHHYF); et la Bourse de Francfort (FSE: K47). Apprenez-en davantage sur www.charbone.com .
Énoncés prospectifs
Le présent communiqué de presse contient des énoncés qui constituent de « l'information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l'intention », « anticipe », « s'attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s'y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l'inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l'adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.
Sauf si les lois sur les valeurs mobilières applicables l'exigent, Charbone ne s'engage pas à mettre à jour ni à réviser les déclarations prospectives.
Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'acceptent de responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.
Contacts
Pour de plus amples informations, veuillez contacter :
Dave B. G agnon | ||
Chef de la direction et président du conseil d'administration | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 844-7170 | ||
Courriel: dg@charbone.com | ||
Daniel Charette | ||
Chef de l'exploitation | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau : +1 438 800-4946 | ||
Courriel: dc@charbone.com | ||
Benoit Veilleux | ||
Chef de la direction financière et secrétaire corporatif | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 800-4991 | ||
Courriel: bv@charbone.com |
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
 | |||||||||
| | | |||||||
Brossard, Quebec TheNewswire - October 9, 2024 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE"), North America's only publicly traded pure-play green hydrogen company, is excited to announce a key addition to its industrial gases operations team as it prepares for production at its flagship project in Sorel-Tracy, Quebec.
Strengthening Field Operations with New Leadership
CHARBONE is pleased to welcome Patrick Cuddihy , a seasoned operations leader with over 20 years of experience at Air Liquide Canada, to its hydrogen operations team. Patrick brings a wealth of expertise in managing industrial gas production and distribution, having held senior roles including Network Sales Director – Quebec Region, General Manager – Pacific Region, Director of Procurement Services, and Director of Logistics and Assets – Eastern Region.
His operational acumen will be instrumental as CHARBONE transitions its first project deployment to full-scale production. Working closely with CHARBONE's executive team, Patrick will support the operation and the management of green hydrogen production projects across the U.S. and Canada.
" Patrick's extensive experience in industrial gases, particularly in operations and supply chain management, will significantly strengthen our team as we move from planning to execution," said Dave Gagnon, Chief Executive Officer and Chairman of the Board, Charbone Hydrogen. "As we prepare to generate our first revenues, we are focused on increasing shareholder value through efficient operations and strategic growth."
Expanding Operations and Workforce
CHARBONE's green hydrogen production is set to commence later this year at its Sorel-Tracy facility, with a second site near Detroit, Michigan planned by the end of 2024. As part of its broader expansion strategy, the Company is also growing its workforce and targeting new market opportunities in key regions, including New York, Ontario, Pennsylvania, Illinois, Wisconsin, and California.
Additionally, CHARBONE has been invited to participate in two large-scale Requests for Information (RFIs), further demonstrating the growing demand for green hydrogen solutions. By 2030, the Company aims to operate 16 green hydrogen production facilities across North America.
Webinar Invitation: Key Insights for Hydrogen Investing
Join CHARBONE at the Investing News Network's (INN) Free Webinar today, October 9th, where the Company will discuss the fast-growing hydrogen market and key opportunities for investors. Don't miss this high-energy event! Register here .
About Charbone Hydrogen Corporation
CHARBONE is an integrated green hydrogen company focused on creating a network of modular green hydrogen production facilities across North America. Using renewable energy, CHARBONE produces eco-friendly dihydrogen (H2) for industrial, institutional, commercial, and future mobility users. CHARBONE is currently the only publicly traded pure-play green hydrogen company, with shares listed on the TSX Venture Exchange (TSXV: CH); the OTC Markets (OTCQB: CHHYF); and the Frankfurt Stock Exchange (FSE: K47). Learn more at www.charbone.com
Forward-Looking Statements
This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
Contacts Charbone Hydrogen Corporation | ||||
Dave B. Gagnon | ||||
Chief Executive Officer and Chairperson of the Board | ||||
Telephone: | +1 438 844-7170 | |||
Email: | ||||
Daniel Charette | ||||
Chief Operating Officer | ||||
Telephone: | +1 438 800-4946 | |||
Email: | ||||
Benoit Veilleux | ||||
Chief Financial Officer and Corporate Secretary | ||||
Telephone: | +1 438 800-4991 | |||
Email: | ||||
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
| |||||||||
| | | |||||||
Brossard (Québec) TheNewswire - le 3 octobre 2024 - CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert, est heureuse d'avoir conclu une entente de consultation spécial avec Enki GéoSolutions Inc. pour conseiller l'équipe de direction de Charbone sur des propositions de partenariat potentielles en tant que co-opérateur et distributeur de cette forme émergente d'hydrogène propre et renouvelable, connue sous le nom d'« hydrogène blanc ou hydrogène naturel ».
Charbone est ravi d'accueillir M. Stephan Séjourné, P.Geo., un géologue d'exploration de premier plan au Québec et président d'Enki GéoSolutions Inc., au sein de son équipe scientifique. M. Séjourné est un géologue québécois bien connu et très respecté, qui a travaillé comme consultant indépendant dans l'industrie pétrolière, avant de fonder Enki GéoSolutions pour mettre à profit son expérience à d'autres ressources naturelles. Il s'est intéressé à l'hydrogène naturel en 2017 et a récemment dirigé, avec l'INRS-ETE, une série de six rapports de recherche inédits sur l'hydrogène naturel au Québec préparés et financés par le gouvernement du Québec .
M. Séjourné fournira des conseils scientifiques à l'équipe de direction de Charbone sur les décisions de collaboration sur l'hydrogène blanc. Avec un futur réseau d'au moins 16 usines stratégiquement situées partout au Canada et aux États-Unis, Charbone rationalisera le processus de réception, de purification, de compression et de distribution de lhydrogène pour répondre à la demande croissante. Cette capacité permettra à Charbone de devenir un acteur clé de la chaîne d'approvisionnement en hydrogène propre, en proposant des solutions qui stimulent à la fois l'innovation et l'efficacité .
" M. Séjourné est un géologue de renommée mondiale qui apporte une formidable expérience scientifique complémentaire à l'équipe de direction de l'entreprise, tandis que le secteur de l'hydrogène naturel offre des possibilités incroyablement passionnantes et qui pourrait changer notre pensée face à cette source d'énergie , a déclaré Dave Gagnon, Chef de la direction chez Charbone. " Notre objectif, comme toujours, est de maximiser notre portefeuille, nos revenus et notre valeur pour les actionnaires . "
La production d'hydrogène vert de Charbone devrait débuter plus tard cette année à son usine de Sorel-Tracy, au Québec, et prévoit lancer un deuxième site près de Détroit, au Michigan, d'ici la fin de l'année. La Société développe également activement ses effectifs et cible d'autres marchés à fort potentiel, notamment New York, l'Ontario, la Pennsylvanie, l'Illinois, le Wisconsin et la Californie. De plus, Charbone a été invité à proposer des projets dans le cadre de deux demandes d'informations (RFI) à grande échelle. D'ici 2030, la société vise à établir 16 installations de production d'hydrogène vert en Amérique du Nord.
À propos de Charbone Hydrogène Corporation
Charbone est une compagnie intégrée de production d'hydrogène vert axé sur la création d'un réseau nord-américain d'usines de production. En utilisant des énergies renouvelables, Charbone produit du dihydrogène (H2) respectueux de l'environnement pour les utilisateurs industriels, institutionnels, commerciaux et de la mobilité future. Charbone est présentement la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert avec ses actions listées sur la Bourse de croissance TSX (TSXV: CH); les marchés OTC (OTCQB: CHHYF); et la Bourse de Francfort (FSE: K47). Apprenez-en davantage sur www.charbone.com .
Énoncés prospectifs
Le présent communiqué de presse contient des énoncés qui constituent de « l'information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l'intention », « anticipe », « s'attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s'y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l'inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l'adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.
Sauf si les lois sur les valeurs mobilières applicables l'exigent, Charbone ne s'engage pas à mettre à jour ni à réviser les déclarations prospectives.
Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'acceptent de responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.
Contacts
Pour de plus amples informations, veuillez contacter :
Dave B. G agnon | ||
Chef de la direction et président du conseil d'administration | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 844-7170 | ||
Courriel: dg@charbone.com | ||
Daniel Charette | ||
Chef de l'exploitation | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau : +1 438 800-4946 | ||
Courriel: dc@charbone.com | ||
Benoit Veilleux | ||
Chef de la direction financière et secrétaire corporatif | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 800-4991 | ||
Courriel: bv@charbone.com |
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
| |||||||||
| | | |||||||
Brossard, Quebec TheNewswire - October 3, 2024 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE"), North America's only publicly traded pure-play green hydrogen company, is pleased to have entered into a special consultancy agreement with Enki GéoSolutions Inc. to advise CHARBONE executive team on potential partnership proposals as a co-operator and distributor of this emerging form of clean and renewable hydrogen, known as "white hydrogen or natural hydrogen".
CHARBONE is thrilled to welcome Mr. Stephan Séjourné, P.Geo., a leading Quebec exploration geologist and President of Enki GéoSolutions Inc., to its scientific team . Mr. Séjourné is a well-known and highly respected Quebec exploration geologist who initially worked as an independent consultant in the petroleum industry, before founding Enki GéoSolutions to apply his experience to other resources. He turned his attention to Natural Hydrogen in 2017 and recently spearheaded, with the INRS-ETE, a series of six groundbreaking research reports on Natural Hydrogen in Quebec prepared for and funded by the Quebec government.
Mr. Séjourné will provide scientific advice to CHARBONE's executive team on white hydrogen collaboration decisions. With a future network of at least 16 strategically located facilities throughout Canada and the U.S., CHARBONE will streamline the process of receiving, purifying, compressing, and distributing hydrogen to meet the growing demand. This capability will allow CHARBONE to become a key player in the clean hydrogen supply chain, offering solutions that drive both innovation and efficiency.
"Mr. Séjourné is a world-class recognized geologist who brings tremendous complementary scientific experience to the Company executive team, while the Natural Hydrogen sector has incredibly exciting possibilities and may change how we think about that source of energy," said Dave Gagnon, Chief Executive Officer and Chairman of the Board, Charbone Hydrogen. "Our goal as always, is to maximize our portfolio, our revenues and our shareholder value ."
CHARBONE's green hydrogen production is set to begin later this year at its Sorel-Tracy, Quebec facility, with plans to launch a second site near Detroit, Michigan by year-end. The Company is also actively expanding its workforce and targeting additional high-potential markets, including New York, Ontario, Pennsylvania, Illinois, Wisconsin, and California. Additionally, CHARBONE has been invited to propose projects in two large-scale Requests for Information (RFIs). By 2030, the Company aims to establish 16 green hydrogen production facilities across North America.
About Charbone Hydrogen Corporation
CHARBONE is an integrated green hydrogen company focused on creating a network of modular green hydrogen production facilities across North America. Using renewable energy, CHARBONE produces eco-friendly dihydrogen (H2) for industrial, institutional, commercial, and future mobility users. CHARBONE is currently the only publicly traded pure-play green hydrogen company, with shares listed on the TSX Venture Exchange (TSXV: CH); the OTC Markets (OTCQB: CHHYF); and the Frankfurt Stock Exchange (FSE: K47). Learn more at www.charbone.com
Forward-Looking Statements
This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
Contacts Charbone Hydrogen Corporation | ||||
Dave B. Gagnon | ||||
Chief Executive Officer and Chairperson of the Board | ||||
Telephone: | +1 438 844-7170 | |||
Email: | ||||
Daniel Charette | ||||
Chief Operating Officer | ||||
Telephone: | +1 438 800-4946 | |||
Email: | ||||
Benoit Veilleux | ||||
Chief Financial Officer and Corporate Secretary | ||||
Telephone: | +1 438 800-4991 | |||
Email: | ||||
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
TSX VENTURE COMPANIES
BULLETIN V2024-2937
ROUTE 109 RESOURCES INC. ("RTE")
formerly BMEX GOLD INC. ("BMEX")
BULLETIN TYPE: Name Change
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
Pursuant to a resolution passed by the Directors of the Company on August 26, 2024 , the Company has changed its name as follows. There is no consolidation of capital.
Effective at the opening Friday, October 4, 2024 , the common shares of Route 109 Resources Inc. will commence trading on TSX Venture Exchange, and the common shares of Bmex Gold Inc. will be delisted. The Company is classified as a 'Mineral Exploration/Development' company.
Capitalization: Unlimited shares with no par value of which |
16,615,889 shares are issued and outstanding |
Escrow: Nil shares |
Transfer Agent: Computershare Investor Services Inc. |
Trading Symbol: RTE ( New ) |
CUSIP Number: 779291103 ( New ) |
_______________________________________
24/10/02 - TSX Venture Exchange Bulletins
TSX VENTURE COMPANIES
BULLETIN V2024-2938
ARCPOINT INC. ("ARC")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a disposition of all of the Company's equity interest in its wholly owned subsidiary ARCpoint Franchise Group LLC (the "Subsidiary") into a new joint venture (the "JV") with an arm's length party (the "JV Partner").
Pursuant to the terms of the transaction, the Company will contribute all of its equity interest in the Subsidiary to the JV in return for a 29.5% interest in the JV. The JV Partner will contribute all its business to the JV in return for a 70.5% interest in the JV.
For further details, please refer to the Company's news release dated August 20, 2024 .
_______________________________________
BULLETIN V2024-2939
BMEX GOLD INC. ("BMEX")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
Financing Type: | Non-Brokered Private Placement |
Gross Proceeds: | $1,201,244.40 |
Offering: | 5,009,996 Flow-Through (FT) Listed Shares with 5,009,996 warrants attached. |
Offering Price: | $0.15 per FT and NFT Listed Share |
Warrant Exercise Terms: | $0.20 per Listed Share for a 2-year period |
Non-Cash Commissions: | N/A |
Public Disclosure: | Refer to the company's news release(s) dated July 26, 2024, August 6, 2024, |
_______________________________________
BULLETIN V2024-2940
CMC METALS LTD. ("CMB")
BULLETIN TYPE: Warrant Term Extension
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange has consented to the extension in the expiry date of the following warrants:
Private Placement: | |
# of Warrants: 4,103,571 | |
Original Expiry Date of Warrants: | September 27, 2024 (as to 2,161,557 warrants). |
October 12, 2024 (as to 1,942,013 warrants). | |
New Expiry Date of Warrants: | September 27, 2025 (as to 2,161,557 warrants). |
October 13, 2025 (as to 1,942,013 warrants). | |
Exercise Price of Warrants: | $0.20 (unchanged) |
These warrants were issued pursuant to a private placement of 8,207,139 shares with 4,103,570 share purchase warrants attached, which were accepted for filing by the Exchange effective November 14, 2022 .
_______________________________________
BULLETIN V2024-2941
Charbone Hydrogen Corporation ("CH")
BULLETIN TYPE: Shares for Debt
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Company's proposal to issue 1,800,000 common shares at a deemed price of $0.10 per common share to settle outstanding debt of $180,000 .
Number of Creditors: | 5 Creditors |
For more information, please refer to the Company's news releases dated November 17, 2023 , July 24, 2024 , and September 18, 2024 .
CORPORATION CHARBONE HYDROGÈNE (« CH »)
TYPE DE BULLETIN : Émission d'actions en règlement d'une dette
DATE DU BULLETIN : Le 2 octobre 2024
Société du groupe 2 de TSX Croissance
Bourse de Croissance TSX a accepté le dépôt de la documentation de la société en vertu de l'émission proposée de 1 800 000 actions ordinaires à un prix réputé de 0,10 $ par action en règlement d'un montant de dette total de 180 000 $.
Nombre de créanciers : | 5 créanciers |
Pour plus d'informations, veuillez-vous référer aux communiqués de presse émis par la société le 17 novembre 2023, le 24 juillet 2024, et le 18 septembre 2024.
_______________________________________
BULLETIN V2024-2942
CIELO WASTE SOLUTIONS CORP. ("CMC") ("CMC.WT")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
Financing Type: | Non-Brokered Private Placement | ||
Offering: | $2,130,000 principal amount of convertible debentures convertible into | ||
Conversion Price: | $0.40 per common share | ||
Maturity date: | 24 months from the date of issuance | ||
Interest rate: | 12% per annum | ||
Warrant Exercise Terms: | $0.70 per common share for a 2-year period , subject to an acceleration right | ||
Commissions in Securities: | Shares | Warrants | |
Finders (Aggregate) | N/A | 5,250 | |
Commission Terms: Each non-transferable warrant is exercisable at $0.70 for | |||
Disclosure: | Refer to the company's news releases dated February 22, 2024, March 11, | ||
_______________________________________
BULLETIN V2024-2943
COSA RESOURCES CORP. ("COSA")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing an asset purchase agreement dated July 26, 2024 (the "Agreement") between the Company and an arm's length party (the "Vendor") to acquire 100% ownership of two mineral claims totaling 6,049 hectares in the Athabasca basin, Saskatchewan (the "Property").
Under the terms of the Agreement, the Company shall issue 250,000 shares of the Company as consideration (the "Consideration Shares"). The Vendor has agreed to voluntary resale restrictions whereby 50% of the Consideration Shares will become free trading six months after closing.
For further details, please refer to the Company's news releases dated July 29, 2024 and August 6, 2024 .
_______________________________________
BULLETIN V2024-2944
FOUNDERS METALS INC. ("FDR")
BULLETIN TYPE: Property-Asset or Share Purchase Amending Agreement
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to the amendment of the arm's length option agreement of the Antino Project (the "Property") between the Company, Nana Resources N.V. ("Nana"), and Lawa Gold N.V. ("Lawa"). The Property consists of the Antino gold project in southeastern Suriname. Lawa in the legal and beneficial owner of the Property; Nana is the legal and beneficial owner of Lawa.
Pursuant to the terms of the amending agreement, the Company will issue a total of 1,615,000 shares to Nana, of which 475,000 shares were already issued at a price of $0.20 per share on March 27, 2023 , and 1,140,000 shares will be issued at a price of $2.69 per share. The Company will also pay a total of $1,650,000 USD in order to complete the first option stage to acquire 51.0% of the Property. The Company has already completed a minimum of $6,000,000 USD in exploration expenditures on the Property under the first option stage. The Company can further acquire 19.0% interest in the Property with a payment of $1,500,000 USD , issuing 95,000 shares of the Company, and incurring a minimum of $10,000,000 USD in exploration expenditures on the Property, within 2 years of the completion of the first stage option. Lastly, the Company can acquire an additional 5.0% interest in the Property, for a total of 75.0% interest, if the Company incurs a minimum $10,000,000 USD in exploration expenditures within 3 years of completion of the second stage option.
No finder's fees were payable.
For further details, please refer to the Company's news releases dated September 6, 2024 , and October 1, 2024 .
_______________________________________
BULLETIN V2024-2945
GPM METALS INC. ("GPM")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
Financing Type: | Non-Brokered Private Placement | ||
Gross Proceeds: | $2,500,000 | ||
Offering: | 41,666,668 Listed Shares with 20,833,334 warrants attached | ||
Offering Price: | $0.06 per Listed Share | ||
Warrant Exercise Terms: | $0.10 per warrant for a 2-year period | ||
Non-Cash Commissions: | Shares | Warrants | |
Finders (Aggregate) | N/A | N/A | |
Public Disclosure: | Refer to the company's news release(s) dated August 19, 2024 and September | ||
_______________________________________
BULLETIN V2024-2946
GR SILVER MINING LTD. ("GRSL")
BULLETIN TYPE: Private Placement -Non-Brokered
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
Financing Type: | Non-Brokered Private Placement | ||
Gross Proceeds: | $2,369,174.08 | ||
Offering: | 14,807,338 Listed Shares with 7,403,667 warrants attached | ||
Offering Price: | $0.16 per Listed Share | ||
Warrant Exercise Terms: | $0.22 per Listed Share for a two-year period | ||
Non-Cash Commissions: | Shares | Warrants | |
Finders | 0 | 696,180 | |
Commission Terms: Each non-transferable warrant is exercisable at $0.22 for | |||
Public Disclosure: | Refer to the company's news releases dated September 9, 2024, September | ||
_______________________________________
BULLETIN V2024-2947
OCEANIC IRON ORE CORP. ("FEO")
BULLETIN TYPE: Shares for Debt
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
Debt Settled: | $92,633.75 |
Securities Issued: | 597,630 Listed Shares |
Issue Price: | $0.155 per Listed Share |
Disclosure: | Refer to the company's news release dated October 1, 2024. |
______________________________________
BULLETIN V2024-2948
SUN SUMMIT MINERALS CORP. ("SMN")
BULLETIN TYPE: Halt
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
Effective at 6:30 a.m. PST , Oct. 02, 2024 , trading in the shares of the Company was halted, pending news; this regulatory halt is imposed by Canadian Investment Regulatory Organization, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
_______________________________________
BULLETIN V2024-2949
SUN SUMMIT MINERALS CORP. ("SMN")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
Effective at 9:00 a.m. PST , Oct. 02, 2024 , shares of the Company resumed trading, an announcement having been made.
_______________________________________
BULLETIN V2024-2950
VOLT CARBON TECHNOLOGIES INC. ("VCT")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
Financing Type: | Non-Brokered Private Placement | ||
Gross Proceeds: | $250,025.04 | ||
Offering: | 5,556,112 Flow-Through Shares | ||
Offering Price: | $0.045 per Flow-Through Share | ||
Warrant Exercise Terms | N/A | ||
Non-Cash Commissions: | Units | Warrants | |
Finders (Aggregate): | N/A | 311,150 | |
Commission Terms: Each non-transferrable warrant is exercisable at $0.05 for | |||
Public Disclosure: | Refer to the company's news release(s) dated July 22, 2024, August 13, | ||
_______________________________________
BULLETIN V2024-2951
WESTERN EXPLORATION INC. ("WEX")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: October 2, 2024
TSX Venture Tier 2 Company
Financing Type: | Non-Brokered Private Placement |
Gross Proceeds: | $1,699,999.38 |
Offering: | 1,603,773 Listed Shares with 801,886 warrants attached |
Offering Price: | $1.06 per Listed Share |
Warrant Exercise Terms: | $1.36 per warrant for period of 24 months |
Public Disclosure: | Refer to the company's news releases dated September 18, 2024 and |
_______________________________________
SOURCE TSX Venture Exchange
View original content: http://www.newswire.ca/en/releases/archive/October2024/02/c6695.html
News Provided by Canada Newswire via QuoteMedia
Alvopetro Energy Ltd. (TSXV:ALV) (OTCQX: ALVOF) ("Alvopetro" or the "Company") announces October 2024 sales volumes, an operational update and financial results for the three and nine months ended September 30, 2024 . We will host a live webcast to discuss Q3 2024 results on Thursday, November 7, 2024 at 8:00 am Mountain time .
All references herein to $ refer to United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.
October Sales Volumes
October sales volumes averaged 1,912 boepd, including natural gas sales of 10.7 MMcfpd, associated natural gas liquids sales from condensate of 108 bopd and oil sales of 14 bopd, based on field estimates.
Natural gas, NGLs and crude oil sales: | October 2024 | September 2024 |
|
Natural gas (Mcfpd), by field: | |||
Caburé | 8,977 | 10,025 | 11,378 |
Murucututu | 1,767 | 1,176 | 616 |
Total natural gas (Mcfpd) | 10,744 | 11,201 | 11,994 |
NGLs (bopd) | 108 | 87 | 95 |
Oil (bopd) | 14 | 9 | 12 |
Total (boepd) | 1,912 | 1,963 | 2,106 |
Operational Update
On our Murucututu field, we finished the recompletion of our 183-A3 well in the third quarter. The well came on production during September and with this well on production through much of October, our natural gas sales from the Murucututu field increased 187% compared to Q3 2024. We are continuing to monitor production results from the well and we expect to drill a follow-up location up-dip from the 183-A3 well from a prebuilt well pad starting later this year.
In the fourth quarter we are planning an optimization project on our 183-B1 well which was originally drilled and tested in 2022.
Financial and Operating Highlights – Third Quarter of 2024
The following table provides a summary of Alvopetro's financial and operating results for the periods noted. The consolidated financial statements with the Management's Discussion and Analysis ("MD&A") are available on our website at www.alvopetro.com and will be available on the SEDAR+ website at www.sedarplus.ca .
As at and Three Months Ended September 30 | As at and Nine Months Ended September 30, | |||||
2024 | 2023 | Change (%) | 2024 | 2023 | Change (%) | |
Financial | ||||||
($000s, except where noted) | ||||||
Natural gas, oil and condensate sales | 12,879 | 12,313 | 5 | 35,303 | 44,387 | (20) |
Net income | 7,152 | 5,819 | 23 | 14,052 | 27,873 | (50) |
Per share – basic ($) (1) | 0.19 | 0.16 | 19 | 0.38 | 0.75 | (49) |
Per share – diluted ($) (1) | 0.19 | 0.15 | 27 | 0.37 | 0.74 | (50) |
Cash flows from operating activities | 10,714 | 12,469 | (14) | 27,787 | 39,798 | (30) |
Per share – basic ($) (1) | 0.29 | 0.34 | (15) | 0.75 | 1.07 | (30) |
Per share – diluted ($) (1) | 0.28 | 0.33 | (15) | 0.74 | 1.05 | (30) |
Funds flow from operations (2) | 9,886 | 9,618 | 3 | 26,309 | 35,637 | (26) |
Per share – basic ($) (1) | 0.27 | 0.26 | 4 | 0.71 | 0.96 | (26) |
Per share – diluted ($) (1) | 0.26 | 0.25 | 4 | 0.70 | 0.94 | (26) |
Dividends declared | 3,295 | 5,122 | (36) | 9,887 | 15,335 | (36) |
Per share (1) (2) | 0.09 | 0.14 | (36) | 0.27 | 0.42 | (36) |
Capital expenditures | 4,747 | 10,703 | (56) | 10,623 | 22,515 | (53) |
Cash and cash equivalents | 24,515 | 22,779 | 8 | 24,515 | 22,779 | 8 |
Net working capital (2) | 15,848 | 11,392 | 39 | 15,848 | 11,392 | 39 |
Weighted average shares outstanding | ||||||
Basic (000s) (1) | 37,300 | 37,138 | - | 37,286 | 37,086 | 1 |
Diluted (000s) (1) | 37,662 | 37,868 | (1) | 37,671 | 37,748 | - |
Operations | ||||||
Natural gas, NGLs and crude oil sales: | ||||||
Natural gas (Mcfpd), by field: | ||||||
Caburé (Mcfpd) | 11,378 | 8,949 | 27 | 9,817 | 11,757 | (17) |
Murucututu (Mcfpd) | 616 | 726 | (15) | 490 | 467 | 5 |
Total natural gas (Mcfpd) | 11,994 | 9,675 | 25 | 10,307 | 12,224 | (16) |
NGLs – condensate (bopd) | 95 | 81 | 17 | 83 | 101 | (18) |
Oil (bopd) | 12 | 3 | 300 | 12 | 4 | 200 |
Total (boepd) | 2,106 | 1,696 | 24 | 1,813 | 2,142 | (15) |
Average realized prices (2) : | ||||||
Natural gas ($/Mcf) | 10.92 | 13.06 | (16) | 11.70 | 12.57 | (7) |
NGLs – condensate ($/bbl) | 86.70 | 89.43 | (3) | 88.77 | 85.31 | 4 |
Oil ($/bbl) | 68.36 | 73.08 | (6) | 68.48 | 69.18 | (1) |
Total ($/boe) | 66.46 | 78.90 | (16) | 71.06 | 75.90 | (6) |
Operating netback ($/boe) (2) | ||||||
Realized sales price | 66.46 | 78.90 | (16) | 71.06 | 75.90 | (6) |
Royalties | (1.89) | (2.04) | (7) | (1.94) | (2.14) | (9) |
Production expenses | (5.38) | (6.52) | (17) | (6.23) | (5.22) | 19 |
Operating netback | 59.19 | 70.34 | (16) | 62.89 | 68.54 | (8) |
Operating netback margin (2) | 89 % | 89 % | - | 89 % | 90 % | (1) |
Notes: | |
(1) | Per share amounts are based on weighted average shares outstanding other than dividends per share, which is based on the number of common shares outstanding at each dividend record date. The weighted average number of diluted common shares outstanding in the computation of funds flow from operations and cash flows from operating activities per share is the same as for net income per share. |
(2) | See " Non-GAAP and Other Financial Measures " section within this news release. |
Q3 2024 Results Webcast
Alvopetro will host a live webcast to discuss our Q3 2024 financial results at 8:00 am Mountain time on Thursday November 7, 2024. Details for joining the event are as follows:
DATE: November 7, 2024
TIME : 8:00 AM Mountain/ 10:00 AM Eastern
LINK: https://us06web.zoom.us/j/82907827720
DIAL-IN NUMBERS: https://us06web.zoom.us/u/kdJ7MOHaio
WEBINAR ID : 829 0782 7720
The webcast will include a question-and-answer period. Online participants will be able to ask questions through the Zoom portal. Dial-in participants can email questions directly to socialmedia@alvopetro.com .
Corporate Presentation
Alvopetro's updated corporate presentation is available on our website at: http://www.alvopetro.com/corporate-presentation .
Social Media
Follow Alvopetro on our social media channels at the following links:
X (Twitter) - https://x.com/AlvopetroEnergy
Instagram - https://www.instagram.com/alvopetro/
LinkedIn - https://www.linkedin.com/company/alvopetro-energy-ltd
Alvopetro Energy Ltd.'s vision is to become a leading independent upstream and midstream operator in Brazil . Our strategy is to unlock the on-shore natural gas potential in the state of Bahia in Brazil , building off the development of our Caburé and Murucututu natural gas fields and our strategic midstream infrastructure.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Abbreviations:
$000s | = | thousands of U.S. dollars |
boepd | = | barrels of oil equivalent ("boe") per day |
bopd | = | barrels of oil and/or natural gas liquids (condensate) per day |
BRL | = | Brazilian Real |
Mcf | = | thousand cubic feet |
Mcfpd | = | thousand cubic feet per day |
MMcf | = | million cubic feet |
MMcfpd | = | million cubic feet per day |
NGLs | = | natural gas liquids (condensate) |
Q3 2023 | = | three months ended September 30, 2023 |
Q2 2024 | = | three months ended June 30, 2024 |
Q3 2024 | = | three months ended September 30, 2024 |
USD | = | United States dollars |
GAAP | = | IFRS Accounting Standards |
Non-GAAP and Other Financial Measures
This news release contains references to various non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures as such terms are defined in National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure . Such measures are not recognized measures under GAAP and do not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial measures disclosed by other issuers. While these measures may be common in the oil and gas industry, the Company's use of these terms may not be comparable to similarly defined measures presented by other companies. The non-GAAP and other financial measures referred to in this report should not be considered an alternative to, or more meaningful than measures prescribed by IFRS and they are not meant to enhance the Company's reported financial performance or position. These are complementary measures that are used by management in assessing the Company's financial performance, efficiency and liquidity and they may be used by investors or other users of this document for the same purpose. Below is a description of the non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures used in this news release. For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the " Non-GAAP Measures and Other Financial Measures " section of the Company's MD&A which may be accessed through the SEDAR+ website at www.sedarplus.ca .
Non-GAAP Financial Measures
Operating netback
Operating netback is calculated as natural gas, oil and condensate revenues less royalties and production expenses. This calculation is provided in the " Operating Netback " section of the Company's MD&A using our IFRS measures. The Company's MD&A may be accessed through the SEDAR+ website at www.sedarplus.ca . Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations.
Non-GAAP Financial Ratios
Operating netback per boe
Operating netback is calculated on a per unit basis, which is per barrel of oil equivalent ("boe"). It is a common non-GAAP measure used in the oil and gas industry and management believes this measurement assists in evaluating the operating performance of the Company. It is a measure of the economic quality of the Company's producing assets and is useful for evaluating variable costs as it provides a reliable measure regardless of fluctuations in production. Alvopetro calculated operating netback per boe as operating netback divided by total sales volumes (boe). This calculation is provided in the " Operating Netback " section of the Company's MD&A using our IFRS measures. The Company's MD&A may be accessed through the SEDAR+ website at www.sedarplus.ca . Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations on a per boe basis.
Operating netback margin
Operating netback margin is calculated as operating netback per boe divided by the realized sales price per boe. Operating netback margin is a measure of the profitability per boe relative to natural gas, oil and condensate sales revenues per boe. This calculation is provided in the and is calculated as follows:
Three Months Ended September 30, | Nine Months Ended September 30, | |||
2024 | 2023 | 2024 | 2023 | |
Operating netback - $ per boe | 59.19 | 70.34 | 62.89 | 68.54 |
Average realized price - $ per boe | 66.46 | 78.90 | 71.06 | 75.90 |
Operating netback margin | 89 % | 89 % | 89 % | 90 % |
Funds Flow from Operations Per Share
Funds flow from operations per share is a non-GAAP ratio that includes all cash generated from operating activities and is calculated before changes in non-cash working capital, divided by the weighted the weighted average shares outstanding for the respective period. For the periods reported in this news release the cash flows from operating activities per share and funds flow from operations per share is as follows:
Three Months Ended September 30, | Nine Months Ended September 30, | |||
$ per share | 2024 | 2023 | 2024 | 2023 |
Per basic share: | ||||
Cash flows from operating activities | 0.29 | 0.34 | 0.75 | 1.07 |
Funds flow from operations | 0.27 | 0.26 | 0.71 | 0.96 |
Per diluted share: | ||||
Cash flows from operating activities | 0.28 | 0.33 | 0.74 | 1.05 |
Funds flow from operations | 0.26 | 0.25 | 0.70 | 0.94 |
Capital Management Measures
Funds Flow from Operations
Funds flow from operations is a non-GAAP capital management measure that includes all cash generated from operating activities and is calculated before changes in non-cash working capital. The most comparable GAAP measure to funds flow from operations is cash flows from operating activities. Management considers funds flow from operations important as it helps evaluate financial performance and demonstrates the Company's ability to generate sufficient cash to fund future growth opportunities. Funds flow from operations should not be considered an alternative to, or more meaningful than, cash flows from operating activities however management finds that the impact of working capital items on the cash flows reduces the comparability of the metric from period to period. A reconciliation of funds flow from operations to cash flows from operating activities is as follows:
Three Months Ended | Nine Months Ended September 30, | |||
2024 | 2023 | 2024 | 2023 | |
Cash flows from operating activities | 10,714 | 12,469 | 27,787 | 39,798 |
Add back changes in non-cash working capital | (828) | (2,851) | (1,478) | (4,161) |
Funds flow from operations | 9,886 | 9,618 | 26,309 | 35,637 |
Net Working Capital
Net working capital is computed as current assets less current liabilities. Net working capital is a measure of liquidity, is used to evaluate financial resources, and is calculated as follows:
As at September 30 | |||
2024 | 2023 | ||
Total current assets | 30,197 | 27,354 | |
Total current liabilities | (14,349) | (15,962) | |
Net working capital | 15,848 | 11,392 | |
Supplementary Financial Measures
" Average realized natural gas price - $/Mcf " is comprised of natural gas sales as determined in accordance with IFRS, divided by the Company's natural gas sales volumes.
" Average realized NGL – condensate price - $/bbl " is comprised of condensate sales as determined in accordance with IFRS, divided by the Company's NGL sales volumes from condensate.
" Average realized oil price - $/bbl " is comprised of oil sales as determined in accordance with IFRS, divided by the Company's oil sales volumes.
" Average realized price - $/boe " is comprised of natural gas, condensate and oil sales as determined in accordance with IFRS, divided by the Company's total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
" Dividends per share " is comprised of dividends declared, as determined in accordance with IFRS, divided by the number of shares outstanding at the dividend record date.
" Royalties per boe " is comprised of royalties, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
" Production expenses per boe " is comprised of production expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
BOE Disclosure
The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6 Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.
Forward-Looking Statements and Cautionary Language
This news release contains forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expect", "intend" and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking statements concerning the plans relating to the Company's operational activities, proposed exploration development activities and the timing for such activities, the expected natural gas price, gas sales and gas deliveries under Alvopetro's long-term gas sales agreement, exploration and development prospects of Alvopetro, capital spending levels, future capital and operating costs, future production and sales volumes, production allocations from the Caburé natural gas field, anticipated timing for upcoming drilling and testing of other wells, projected financial results, and sources and availability of capital. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations regarding Alvopetro's working interest and the outcome of any redeterminations, environmental regulation, including regulation relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors and may vary depending on numerous factors, including, without limitation, the Company's operational performance, available financial resources and financial requirements, capital requirements and growth plans. There can be no assurance that dividends will be paid at the intended rate or at any rate in the future. Similarly, the decision by the Company to repurchase shares pursuant to the NCIB and the amount and timing of such repurchases is uncertain and there can be no assurance that the Company will repurchase any shares in the future. Although we believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with financial institution instability, and general economic conditions. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our AIF which may be accessed on Alvopetro's SEDAR+ profile at www.sedarplus.ca . The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Alvopetro Energy Ltd.
View original content: http://www.newswire.ca/en/releases/archive/November2024/06/c6752.html
News Provided by Canada Newswire via QuoteMedia
Coelacanth Energy (TSXV:CEI) is a junior oil and natural gas exploration and development company exploring the prolific Montney region in northeastern British Columbia, Canada. Coelacanth is strategically positioned to harness the potential of one of the most resource-rich natural gas basins in North America with a substantial landholding of approximately 150 net sections in the Two Rivers area of Montney.
The company is in the process of deploying $ 80 million to facilitate the smooth transition from exploration to production. Coelacanth’s financial health is further evidenced by its $64.4 million in working capital as of Q2 2024.
Coelacanth’s landholdings are strategically located in the Two Rivers area of Montney, giving it access to a highly productive portion of the basin. Unlike many junior exploration companies, Coelacanth is drill-ready, positioning it favorably among its peers. By securing significant infrastructure and landholdings, Coelacanth ensures its ability to tap into the natural gas and oil resources that lie beneath its properties, a key advantage in the competitive Montney region.
This Coelacanth Energy profile is part of a paid investor education campaign.*
Click here to connect with Coelacanth Energy (TSXV:CEI) to receive an Investor Presentation
