HydroGraph Clean Power Inc announced a private placement of 27,027,027 units at a price of CAD 0.10 per unit for the gross proceeds of CAD 2,702,702.7 on October 30, 2023. Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant of the company. Each warrant will entitle the holder thereof to purchase one common share at a price of CAD 0.180 per warrant share for a period of 24 months after the closing date of the offering.

The transaction is expected to close on November 10, 2023. After the statutory hold period of four months and a day from the closing date, each warrant will be subject to an acceleration right. Closing of the offering is subject to receipt of all regulatory approvals.