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Global private financial group headquartered in San Francisco advises on construction facility to support CHARBONE's expansion of modular green hydrogen facilities in North America.
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Provaris Energy
Investor Insight
Provaris Energy is at the forefront of developing integrated compressed hydrogen and liquid CO₂ storage and transport infrastructure. With proprietary technology, a capital-light license model, and a growing portfolio of European hydrogen supply chain projects, Provaris is well-positioned to support global decarbonization efforts.
Company Highlights
- Proprietary tank IP and vessel designs enable scalable, low-cost storage and transport solutions.
- Compression technology offers the lowest cost for regional hydrogen supply.
- Term sheet signed with Uniper Global Commodities for 42,500 tpa hydrogen supply; binding Hydrogen SPA targeted mid-2025.
- Second MoU signed in March 2025 for 30,000 tpa hydrogen supply from Norway to Germany; term sheet expected Q2 2025.
- Early cash flow via license and origination fees; no capex required for Provaris to participate in shipping infrastructure.
- Partnership with Yinson Production AS to deliver new liquid CO₂ tank designs targeting maritime, floating, and onshore storage.
- High-volume inbound interest (>150 ktpa) from Nordic and Spanish developers confirms market demand.
- Prototype compressed hydrogen tank in construction, with class approvals expected Q3 2025.
Overview
Provaris (ASX:PV1) offers innovative storage and transport infrastructure essential to lowering the cost of hydrogen and CO₂ supply chains. With offices in Sydney and Oslo, the company is strategically focused on Europe, where decarbonization goals and energy security demand scalable and efficient clean energy solutions.
Provaris has developed a proprietary compressed hydrogen shipping solution designed to deliver “ready-to-use” green hydrogen with the lowest delivered cost for regional markets. Compression has been validated as the most energy- and cost-efficient method for hydrogen delivery, eliminating the need for complex conversion to carriers like ammonia. Studies show Provaris’ model delivers ~50 percent more hydrogen at ~20 percent lower cost compared to ammonia, with emissions well below EU RED II thresholds.
The company's “capital lite” model enables early cash flow and long-term recurring revenue through license and origination fees, without requiring ownership of ships or infrastructure. Each hydrogen supply project can generate ~US$34 million in total revenue for Provaris, including a technology license fee of ~US$16.5 million per project.
With binding commercial milestones targeted for 2025, including two supply agreements with German utilities totaling over 70,000 tonnes per annum of hydrogen, Provaris is well positioned to enable Europe’s transition to clean hydrogen. Europe's hydrogen import needs are forecast to reach 7 million tonnes (Mt) by 2030, with less than 1 percent of that currently supplied by low-carbon sources.
The company is also pioneering bulk liquid CO₂ tank technology in partnership with Yinson Production AS, opening a second stream of licensing revenue and addressing bottlenecks in carbon capture and storage infrastructure. This innovation aligns with Provaris’ mission to enable practical, efficient, and scalable zero-carbon energy supply chains across Europe and beyond.
Advanced Supply Chain Project Pipeline in Europe
Provaris is advancing several green hydrogen export projects from the Nordics to continental Europe:
- Norway: Two hydrogen export projects under MoUs with German utilities (Uniper and a second unnamed utility).
- Germany: Import infrastructure collaboration with utilities; aligned with TSO build-out and industrial decarbonization targets.
- Spain: Ongoing discussions with developers and offtake partners for hydrogen export hubs.
- Finland: Working with local partners to identify export-capable hydrogen production sites.
- The Netherlands: Joint pre-feasibility with Global Energy Storage (GES) for 40,000 tpa hydrogen import terminal in Rotterdam.
These projects underpin a cumulative pipeline of over 150 ktpa and demonstrate Provaris’ ability to meet Europe’s growing hydrogen demand.
Key Features and Benefits of Compressed Hydrogen
- Enhanced Safety: Provaris’ compressed hydrogen technology prioritizes safety in storage and transportation.
- Cost-effectiveness: By eliminating the need for complex liquefaction or ammonia synthesis processes, the company's solutions reduce overall costs.
- Scalability: The technology is adaptable to various project sizes, from regional supply chains to large-scale international exports.
- Environmental Sustainability: Compressed green hydrogen aligns with global efforts to reduce carbon emissions and transition to cleaner energy sources.
Multiple studies reaffirm the simplicity and efficiency of compressed hydrogen enables low-cost supply for Europe.
Innovative Hydrogen Vessel Designs: H2Neo Carrier and H2Leo Barge for export efficiency
Complementing its proprietary compressed hydrogen technology, Provaris is progressing the final design and classification approval phases of two purpose-built vessel types—the H2Neo Carrier and H2Leo Barge—designed to safely and efficiently transport compressed hydrogen across regional maritime routes.
These vessels are central to Provaris' strategy to unlock flexible and cost-effective green hydrogen supply chains. The H₂Neo Carrier is engineered with a cargo capacity of 27,000 cubic meters (equivalent to 450 tonnes of hydrogen at 250 bar pressure) and features a closed containment system that eliminates boil-off losses and minimizes emissions. FEED level design has been completed and approved by classification societies, including safety studies. Final Class approval is expected in 2025, aligning with the company’s targeted project final investment decisions in 2026.
H2Neo carrier solution together with barge storage for loading and discharge sites
The combination proprietary tank technology, automated shipbuilding processes, and flexible infrastructure options, Provaris offers a lower total cost of ownership and faster deployment compared to alternative hydrogen carriers such as ammonia or liquid hydrogen. These innovations position Provaris as a first mover in delivering safe, scalable, and cost-competitive maritime transport for green hydrogen across Europe.
Innovating CO2 Storage and Transport
As part of its commitment to sustainable energy solutions, Provaris is expanding its portfolio in 2024 to include CO₂ storage. This strategic move commenced with a ground-breaking partnership with Norway’s Yinson Production AS to bring innovation to liquid CO₂ storage and transport, for both maritime and onshore applications. Yinson is a US$3 billion global energy infrastructure leader in FPSOs and renewable technologies, having raised US$1.6 billion in late-2024 for growth funding, including the establishment of CO₂ supply chains.
A Joint Development Agreement (JDA) to develop new bulk liquid CO₂ (LCO2) tank designs for floating, onshore and ship-based storage applications, solves an industry bottleneck for CO₂ tank capacity limited to ~7,500 cbm. Targeting major gains in storage volume and reduced storage costs, tank designs at low pressure and temperature maximise storage and efficiency to reduce storage and transport costs.
Aligned with its technology license model for hydrogen, Yinson is funding Provaris’ development of new tank designs to be jointly owned and then licensed to owners of floating storage, shipping and land-based storage solutions, which will include Yinson.
In March 2025, Provaris completed a concept design for a large-volume, low-pressure tank solution, unlocking a new stream of license fee revenue. The initial license fee of US$200,000 has already been received, and further payments are anticipated as development progresses.
Milestones for June 2025 include the completion of Phase 2 of the JDA which will include a type rating approval of a LCO2 tank and integrated with Yinson’s development of a Floating Storage Injection Unit (FSIU) proposed for the use in offtshore CCS injection projects under development in Europe and Asia.
Management Team
Martin Carolan – Managing Director & CEO
Greg Martin – Chairman
Andrew Pickering – Non-executive Director
David Palmer – Non-executive Director
Per Roed – Chief Technical Officer
Mats Fagerberg – Business Development, Europe
Garry Triglavcanin – Product Development Director
Norman Marshall – Group Commercial Manager
John Stevenson – Group Financial Controller
Jessica Roed – Operations Manager, Norway
Enabling the scale-up of clean energy supply chains through innovative hydrogen and CO2 storage and transport solutions.
Provaris Energy’s Capital-light Shift Unlocks Growth in Hydrogen and CO₂ Transport, Report Says
With key agreements in place, new revenue streams emerging, and an expanded valuation outlook, Provaris is well-positioned for growth in the global clean energy market.
Illustration of the Regional Supply locations from the Nordic Region into North-West European ports with hydrogen import development plans linked to the future development of Germany’s core hydrogen network
Key Highlights from the Report:
Building Blocks for Hydrogen and CO₂ Transport in Place
Provaris has secured foundational agreements to advance its hydrogen and CO2 transport solutions. This includes a 42,000 tpa hydrogen supply chain agreement with Uniper and Norwegian Hydrogen, a 30,000 tpa supply deal from Norway to a German utility, and a joint development agreement with Yinson Production Offshore for a 5 mtpa CO2 transport project targeted for the end of the decade.
Capital-light Model to Reduce Funding Needs
Adopting a capital-light model, Provaris will generate licence and origination fees while avoiding the need to fund vessel construction directly. This approach lowers financial risk while maintaining long-term participation in the sector.
Licence Fees Unlock Near-term Revenue
Provaris will now earn a 5 percent technology licence fee on the capital expenditure of its H2Neo hydrogen carrier and H2Leo hydrogen barge, providing upfront revenue during the 30-month construction period. Once operational, the company targets a 5 percent free-carried equity ownership, allowing further financial participation.
Revised Forecasts and Increased Valuation
The updated financial model anticipates technology licence revenue as early as FY 2027, earlier than previous forecasts. Longspur Clean Energy has raised its base-case valuation slightly from AU$0.07 to AU$0.08, with a single CO2 project pushing this to AU$0.13. A larger-scale Norwegian hydrogen project could drive a high-case valuation of AU$0.15. The lower capital requirements under the new model increase the feasibility of new projects, improving confidence in higher valuation scenarios.
For the full analyst report, click here.
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CHARBONE Hydrogen Executed a USD 50MM Financing to Accelerate its Hydrogen's North American Expansion Facilitated by US Capital Global
Brossard, Quebec TheNewswire - June 4, 2025 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE"), rare publicly traded pure-play company focused on the production and distribution of green hydrogen in North America, is pleased to announce more details on the signing, announced previously on May 1st 2025, of a project finance facility of up to USD 50 million being provided by a private fund managed by True Green Capital Management LLC ("TGC"). US Capital Global Securities LLC, the SEC-registered broker-dealer division of global private financial group US Capital Global has acted as lead advisor and facilitator.
Headquartered in Montreal, CHARBONE is developing modular production facilities targeting 99.999% purity (Grade 5.0 and higher) hydrogen, with all output pre-sold through tier-one offtake agreements.
" We're proud to have served as lead advisor to both CHARBONE and TGC on this transaction ," said Charles Towle, CEO of US Capital Global Securities. " CHARBONE is gaining strong momentum as demand grows for clean hydrogen solutions to decarbonize industrial users through their key sites in development across North America. We look forward to supporting the company's continued growth. The transaction was led by Lisa Terk, Senior Vice President and a top CleanTech and Renewables banker at our global headquarters. "
" This financing marks an important milestone in executing our long-term growth strategy ," said Benoit Veilleux, CFO of CHARBONE. " We are grateful to US Capital Global for their consistent support and expertise throughout this process—from structuring and investor engagement to the successful completion of legal documentation. "
Herv é Touati , Managing Director at TGC, added: " We're pleased to be financing CHARBONE and look forward to working together on this joint renewable clean energy initiative. We appreciate the diligence and insight of US Capital Global in bringing this opportunity to this stage. "
About Charbone Hydrogen Corporation
CHARBONE is an integrated green hydrogen company with strategic distribution capabilities of industrial gases across North America. While continuing to develop its modular green hydrogen production network, CHARBONE also leverages commercial partnerships to supply hydrogen, helium, and other industrial gases without the capital-intensive requirements of production facilities. This approach enhances revenue streams, reduces operational risks, and increases market flexibility. CHARBONE remains North America's 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). For more information, visit www.charbone.com .
About True Green Capital Management
True Green Capital Management LLC ("TGC") is a specialized renewable energy infrastructure fund manager with a focus in distributed power generation in the US and Europe. Since 2011, TGC has financed and managed clean energy assets that generate stable, low-correlated returns. Headquartered in Westport, Connecticut, TGC also maintains an office in London. Learn more at www.truegreencapital.com .
About US Capital Global
Founded in 1998, US Capital Global offers a range of advanced financial solutions, including debt, equity, and investment products customized for middle-market enterprises and investors. The firm oversees direct investment funds while delivering comprehensive wealth management and investment banking services, encompassing M&A strategies and capital raising expertise. Among the notable entities within the consortium are US Capital Global Investment Management LLC, US Capital Global Wealth Management LLC, and US Capital Global Securities LLC, an SEC-registered broker-dealer and member of FINRA. To learn more, visit www.uscapital.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 .
Contact Charbone Hydrogen Corporation | ||||
Telephone: +1 450 678 7171 | ||||
Email: ir@charbone.com Benoit Veilleux CFO and Corporate Secretary | ||||
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Charbone Hydrogene a execute un financement de 50 millions USD pour accelerer son expansion en hydrogene en Amerique du Nord, facilite par US Capital Global
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Un groupe financier privé mondial dont le siège social est à San Francisco conseille sur la facilité de construction pour soutenir l'expansion des usines modulaires d'hydrogène vert de Charbone en Amérique du Nord.
Brossard (Québec) TheNewswire - le 4 juin 2025 - CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), une rare compagnie cotée en bourse spécialisée dans la production et la distribution d'hydrogène vert en Amérique du Nord, est heureuse d'annoncer plus de détails sur la signature, annoncée le 1 er mai 2025, d'un financement de projets d'un montant maximal de 50 millions de dollars américains, accordé par un fonds privé géré par True Green Capital Management LLC (« TGC »). US Capital Global Securities LLC, la division de courtage enregistrée auprès de la SEC du groupe financier privé mondial US Capital Global, a agi en tant que conseiller principal et facilitateur.
Basée à Montréal, Charbone développe des usines de production modulaires ciblant l'hydrogène d'une pureté de 99,999 % (grade 5.0 et supérieur), avec toute la production pré-vendue via des contrats de ventes à des clients de premier niveau.
" Nous sommes fiers d'avoir servi de conseiller principal à la fois à Charbone et à TGC sur cette transaction , a dit Charles Towle, Chef de la direction à US Capital Global Securities. " Charbone connaît une forte dynamique, face à la demande croissante de solutions d'hydrogène propre pour décarboner les utilisateurs industriels grâce à ses principaux sites en développement en Amérique du Nord. Nous sommes impatients de soutenir la croissance continue de l'entreprise. La transaction a été menée par Lisa Terk, vice-présidente principale et banquière de premier plan spécialisée dans les technologies propres et les énergies renouvelables à notre siège mondial . "
" Ce financement marque une étape importante dans l'exécution de notre stratégie de croissance à long terme , a dit Benoit Veilleux, Chef de la direction financière de Charbone. " Nous sommes reconnaissants à US Capital Global pour son soutien constant et son expertise tout au long de ce processus, depuis la structuration et de l'engagement des investisseurs jusqu'à la réussite de la documentation juridique . "
Hervé Touati, Directeur Général à TGC, a ajouté : " Nous sommes heureux de financer Charbone et nous réjouissons de collaborer à cette initiative conjointe en matière d'énergie propre et renouvelable. Nous apprécions la diligence et la perspicacité de US Capital Global qui ont permis à cette opportunité d'aboutir . "
À propos de Charbone Hydrogène Corporation
Charbone est une entreprise intégrée d'hydrogène vert disposant de capacités stratégiques de distribution de gaz industriels en Amérique du Nord. Tout en poursuivant le développement de son réseau modulaire de production d'hydrogène vert, Charbone s'appuie également sur des partenariats commerciaux pour fournir de l'hydrogène, de l'hélium et d'autres gaz industriels sans les exigences en capital élevées des usines de production. Cette approche améliore les sources de revenus, réduit les risques opérationnels et accroît la flexibilité sur le marché. Charbone reste la seule société purement axée sur l'hydrogène vert cotée en bourse en Amérique du Nord, avec des actions cotées à la Bourse de croissance TSX (TSXV: CH); sur les marchés OTC (OTCQB: CHHYF); et à la Bourse de Francfort (FSE: K47). Pour plus d'informations, visiter www.charbone.com .
À propos de True Green Capital
True Green Capital Management LLC (« TGC ») est un gestionnaire de fonds spécialisé dans les infrastructures d'énergies renouvelables, spécialisé dans la production d'électricité décentralisée aux États-Unis et en Europe. Depuis 2011, TGC finance et gère des actifs d'énergie propre générant des rendements stables et faiblement corrélés. Basé à Westport, dans le Connecticut, TGC dispose également d'un bureau à Londres. Pour en savoir plus, rendez-vous sur www.truegreencapital.com .
À propos de US Capital Global
Fondée en 1998, US Capital Global propose une gamme de solutions financières avancées, comprenant des produits de dette, de capitaux propres et d'investissement personnalisés pour les entreprises et les investisseurs du marché intermédiaire. La société supervise des fonds d'investissement directs et propose des services complets de gestion de patrimoine et de banque d'investissement, incluant des stratégies de fusions-acquisitions et une expertise en levée de capitaux. Parmi les entités notables du consortium figurent US Capital Global Investment Management LLC, US Capital Global Wealth Management LLC et US Capital Global Securities LLC, courtier-négociant enregistré auprès de la SEC et membre de la FINRA. Pour en savoir plus, visiter www.uscapital.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.
Pour contacter Corporation Charbone Hydrogène :
Téléphone bureau: +1 450 678 7171 | ||
Courriel: ir@charbone.com Benoit Veilleux Chef de la direction financière et secrétaire corporatif |
Copyright (c) 2025 TheNewswire - All rights reserved.
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Charbone Hydrogen Announces Closing of Units for Debt Financing for a Total Amount of $1.3M
(TheNewswire)
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Brossard, Quebec TheNewswire - June 3, 2025 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE "), North America's only publicly traded pure-play company focused on green hydrogen production and distribution, is pleased to announce the closing of Units for debt settlements amounting to $1,342,687.
The Company has settled with certain arm's length suppliers $1,342,687 of payables through the issuance of units. Each unit offered, priced at $0.075 per Unit, comprised one common share of the Company and one common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $ 0.10 for 12 months following the closing date. A total of 17,902,489 Units will be issued pursuant to the closing, at a conversion price per unit of $0.075. The Company believes that the settlement of the payables through the issuance of securities is appropriate to advance towards production for its Sorel-Tracy project and the overall need to manage its cash prudently. A formal agreement will reflect any debt settlement and will be subject to the approval of the TSX Venture Exchange. Any securities issued pursuant to a debt settlement will be subject to a statutory four-month hold period in Canada.
About Charbone Hydrogen Corporation
CHARBONE is an integrated green hydrogen company with strategic distribution capabilities of industrial gases across North America. While continuing to develop its modular green hydrogen production network, CHARBONE also leverages commercial partnerships to supply hydrogen, helium, and other industrial gases without the capital-intensive requirements of production facilities. This approach enhances revenue streams, reduces operational risks, and increases market flexibility. CHARBONE remains North America's 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). For more information, visit 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 .
Contact Charbone Hydrogen Corporation | |
Telephone: +1 450 678 7171 | |
Email: ir@charbone.com Benoit Veilleux CFO and Corporate Secretary | |
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Charbone Hydrogene Annonce un Financement de Reglements de Dettes par Emission d'Unites pour un Montant Total de 1,3M$
Brossard (Québec) TheNewswire - le 3 juin 2025 — CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), la seule compagnie d'Amérique du Nord cotée en bourse axée sur la production et la distribution d'hydrogène vert, a le plaisir d'annoncer la clôture de règlements de dettes par émission d'unités s'élevant à 1 342 687 $.
La Société a conclu avec certains fournisseurs sans lien de dépendance pour un montant total de 1 342 687 $ de comptes à payer par l'émission d'unités. Chaque unité offerte, au prix de 0,075 $ l'unité, comprenait une action ordinaire de la Société et un bon de souscription d'action ordinaire . Chaque bon de souscription permettra à son porteur d'acquérir une action ordinaire supplémentaire de la Société à un prix d'exercice de 0,10 $ pendant 12 mois après la date de clôture . Un total de 17 902 489 d'unités seront émises à la clôture, au prix de conversion unitaire de 0,075 $. La Société estime que le règlement des dettes par l'émission de titres est approprié pour progresser vers la production de son projet phare de Sorel-Tracy et pour répondre à la nécessité générale de gérer sa trésorerie avec prudence. Une entente officielle reflétera tout règlement de dette et sera assujetti à l'approbation de la Bourse de croissance TSX. Tous titres émis dans le cadre de ce règlement de dettes sera assujetti à la période de détention légale au Canada de quatre mois.
À propos de Charbone Hydrogène Corporation
Charbone est une entreprise intégrée d'hydrogène vert disposant de capacités stratégiques de distribution de gaz industriels en Amérique du Nord. Tout en poursuivant le développement de son réseau modulaire de production d'hydrogène vert, Charbone s'appuie également sur des partenariats commerciaux pour fournir de l'hydrogène, de l'hélium et d'autres gaz industriels sans les exigences en capital élevées des usines de production. Cette approche améliore les sources de revenus, réduit les risques opérationnels et accroît la flexibilité sur le marché. Charbone reste la seule société purement axée sur l'hydrogène vert cotée en bourse en Amérique du Nord, avec des actions cotées à la Bourse de croissance TSX (TSXV: CH); sur les marchés OTC (OTCQB: CHHYF); et à la Bourse de Francfort (FSE: K47). Pour plus d'informations, visiter 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.
Pour contacter Corporation Charbone Hydrogène :
Téléphone bureau: +1 450 678 7171 | ||
Courriel: ir@charbone.com Benoit Veilleux Chef de la direction financière et secrétaire corporatif |
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SOURCE ROCK ROYALTIES ANNOUNCES FIRST QUARTER 2025 RESULTS
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./
Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil focused royalties, announces results for the three-month period ended March 31, 2025 .
First Quarter Highlights:
- Quarterly royalty production of 232 boe/d (92% oil and NGLs), a decrease of 4% over Q1 2024.
- Quarterly royalty revenue of $1,676,388 , a decrease of 3% over Q1 2024.
- Quarterly adjusted EBITDA (1) of $1,460,440 ( $0.032 per share), a decrease of 3% over Q1 2024.
- Quarterly funds from operations (1) of $1,292,215 ( $0.028 per share), a decrease of 3% over Q1 2024.
- Declared three monthly dividends of $0.0065 per share, resulting in a payout ratio (1) of 69%.
- Achieved an operating netback (1) of $70.00 per boe and a corporate netback (1) of $61.94 per boe.
- Working capital of $5,263,714 (0.115 per share) as at March 31, 2025 .
Financial and Operational Results
Three Months Ended March 31, | |||
FINANCIAL ($, except as noted) | 2025 | 2024 | Change |
Royalty revenue | 1,676,388 | 1,728,050 | -3 % |
Adjusted EBITDA (1) | 1,460,440 | 1,504,104 | -3 % |
Per share (basic) | 0.032 | 0.033 | -3 % |
Funds from operations (1) | 1,292,215 | 1,331,106 | -3 % |
Per share (basic) | 0.028 | 0.029 | -3 % |
Total comprehensive income (loss) | 355,381 | 217,968 | 63 % |
Per share (basic) | 0.008 | 0.005 | 60 % |
Per share (diluted) | 0.007 | 0.005 | 40 % |
Dividends declared | 888,863 | 814,176 | 9 % |
Per share | 0.0195 | 0.018 | 8 % |
Payout ratio (1) (%) | 69 % | 61 % | 13 % |
Cash and cash equivalents | 5,125,530 | 2,445,179 | 110 % |
Per share (basic) | 0.11 | 0.05 | 108 % |
Average shares outstanding (basic) | 45,582,727 | 45,231,865 | 1 % |
Shares outstanding (end of period) | 45,582,727 | 45,232,645 | 1 % |
OPERATING | |||
Average daily production (boe/d) | 232 | 241 | -4 % |
Percentage oil & NGLs (%) | 92 % | 95 % | -3 % |
Average price realizations ($/boe) | 80.36 | 78.78 | 2 % |
Operating netback (1) ($/boe) | 70.00 | 68.58 | 2 % |
Corporate netback (1) ($/boe) | 61.94 | 60.70 | 2 % |
(1) | This is a non-GAAP financial measure or non-GAAP ratio. Refer to the disclosure under the heading "Non-GAAP Financial Measures & Ratios" for more information on each non-GAAP financial measure or ratio. |
About Source Rock Royalties Ltd.
Source Rock is a pure-play oil and gas royalty company with an existing, oil focused portfolio of royalty interests concentrated in southeast Saskatchewan , central Alberta and west-central Saskatchewan . Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock's strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.
Forward-Looking Statements
This news release includes forward-looking statements and forward-looking information within the meaning of Canadian securities laws. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include statements regarding Source Rock's dividend strategy and the amount and timing of future dividends (and the sustainability thereof), the potential for future drilling on Source Rock's royalty lands, expectations regarding commodity prices, Source Rock's growth strategy and expectations with respect to future royalty acquisition and partnership opportunities, and the ability to complete such acquisitions and establish such partnerships. Such statements and information are based on the current expectations of Source Rock's management and are based on assumptions and subject to risks and uncertainties. Although Source Rock's management believes that the assumptions underlying these statements and information are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this news release may not occur by certain dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Source Rock. Although Source Rock has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements and information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement or information can be guaranteed. Except as required by applicable securities laws, forward-looking statements and information speak only as of the date on which they are made and Source Rock undertakes no obligation to publicly update or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise.
Non-GAAP Financial Measures & Ratios
This news release uses the terms "funds from operations" and "Adjusted EBITDA" which are non-GAAP financial measures and the terms "payout ratio", "operating netback" and "corporate netback" which are non-GAAP ratios. These financial measures and ratios do not have a standardized prescribed meaning under GAAP and these measures and ratios may not be comparable with the calculation of similar measures disclosed by other entities.
"Adjusted EBITDA" is used by management to analyze the Corporation's profitability based on the Corporation's principal business activities prior to how these activities are financed, how assets are depreciated, amortized and impaired, and how the results are taxed. Additionally, amounts are removed relating to share-based compensation expense, the sale of assets, fair value adjustments on financial assets and liabilities, other non-cash items and certain non-standard expenses, as the Corporation does not deem these to relate to the performance of its principal business. Adjusted EBITDA is not intended to represent net profit (or loss) as calculated in accordance with IFRS.
The most directly comparable GAAP financial measure to funds from operations is cash flow from operating activities. "Funds from operations" is defined as cash flow from operating activities before the change in non-cash working capital. Source Rock believes the timing of collection, payment or incurrence of these non-cash items involves a high degree of discretion and as such may not be useful for evaluating Source Rock's operating performance. Source Rock considers funds from operations to be a key measure of operating performance as it demonstrates Source Rock's ability to generate funds to fund operations, acquisition opportunities, dividend payments and debt repayments, if applicable. Funds from operations should not be construed as an alternative to income or cash flow from operating activities determined in accordance with GAAP as an indication of Source Rock's performance.
"Corporate netback" is calculated as funds from operations divided by cumulative production volumes for the period. Corporate netback is used by Source Rock to better analyze the financial performance of its royalties against prior periods and to assess the cost efficiency of its overall corporate platform as it relates to production volumes. There is no standardized meaning for "corporate netback" and this metric as used by Source Rock may not be comparable with the calculation of similar metrics disclosed by other entities, and therefore should not be used to make comparisons.
"Operating netback" represents the cash margin for products sold. Operating netback is calculated as revenue minus cash administrative expenses divided by cumulative production volumes for the period. Operating netback is used by Source Rock to assess the cash generating and operating performance of its royalties against prior periods and to assess the costs efficiency of its operating platform as it relates to production volumes. There is no standardized meaning for "operating netback" and this metric as used by Source Rock may not be comparable with the calculation of similar metrics disclosed by other entities, and therefore should not be used to make comparisons.
"Payout ratio" is calculated as the aggregate of cash dividends declared in a period divided by funds from operations realized in such period. Source Rock considers payout ratio to be a key measure to assess Source Rock's ability to fund operations, acquisition opportunities, dividend payments, cash taxes and debt repayments, if applicable.
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 of this release.
SOURCE Source Rock Royalties Ltd.
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