WINNIPEG, MB, Jan. 15, 2025 /CNW/ - FuelPositive Corporation (the "Company" or "FuelPositive") (TSXV: NHHH) (OTCQB: NHHHF) today announced that due to end-of-year logistical considerations, the Board of Directors has revised the date for the company's Annual General Meeting (AGM). The AGM will now be held on Tuesday, March 18, 2025, at 4:00 PM Eastern Time.
FuelPositive Corp. (CNW Group/FuelPositive Corp.)
The AGM will be conducted virtually, ensuring accessibility for all shareholders. Shareholders are invited to send any questions they would like addressed during the management update part of the meeting. Questions can be submitted in advance via email to the Company at info@fuelpositive.com.
FuelPositive stays committed to keeping its shareholders informed and engaged. Further details, including access instructions for the virtual AGM, will be provided in a management information circular to be distributed to shareholders of record closer to the meeting date.
Debt Settlement
The Company also announces that it will settle outstanding indebtedness (the "Indebtedness") totaling US$50,000 through the issuance of 2,394,167 units (each, a "Unit") at a deemed price of $0.03 per Unit. The Indebtedness is owing by the Company to an arm's-length service provider.
Each Unit consists of one common share of the Company and one common share purchase warrant (each, a "Warrant"). Each Warrant will be exercisable at a price of $0.05 for a period of sixty months, provided that in the event the ten-day volume-weighted average closing price of the common shares of the Company on the TSX Venture Exchange exceeds $0.40, the Company will have the right to accelerate the expiry of the Warrants.
All securities issued in connection with the debt settlement will be subject to restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws.
The Company also notes that it continues to actively advance the non-brokered private placement of up to 26,666,667 Units at a price of $0.03 per Unit, and as well as the settlement of additional indebtedness totaling $278,940.51 through the issuance of 9,298,017 Units at a deemed price of $0.03 per Unit, as previously announced on December 4, 2024. Completion of the private placement and the debt settlement remain subject to the approval of the TSX Venture Exchange.
About FuelPositive Corporation
FuelPositive is leading the future of agriculture with the world's first farmer-owned, on-farm Green Ammonia production systems. The Company's modular and innovative technology offers a predictable, reliable, and affordable solution for directly producing green fertilizer and fuel on-farm, reducing reliance on external supply chains.
Groundbreaking AgTech and Green Energy:
FuelPositive's containerized Green Ammonia production systems are transforming the Green Ammonia industry by decentralizing production. This new fertilizer production approach aims to empower farmers to generate green nitrogen fertilizer and carbon-free fuel on-site, ensuring stable costs and supply. Each ton of ammonia produced by FuelPositive systems eliminates up to 2 tons of CO2e emissions, providing an environmentally sustainable solution that is also easily accessible and remotely monitored, enabling farmers to focus on their operations without added complexity.
First System Delivery: A Milestone in Sustainable Agriculture:
In June 2024, FuelPositive delivered its first commercial system, the FP300, to Tracy and Curtis Hiebert's 11,000-acre grain farm near Sperling, Manitoba. This milestone marks a significant advancement for both FuelPositive and sustainable agriculture. The system activation this fall will further demonstrate the transformative impact of the Company's technology on farming practices, driving a more sustainable future.
Manitoba: A Global Center of Excellence:
FuelPositive is positioning Manitoba as a leader in decentralized Green Ammonia production. The Company's vision includes establishing a world-leading manufacturing hub that will generate highly skilled engineering, science, and trade jobs and contribute to the local economy over the coming years.
FuelPositive Corporation is based in Ontario and Manitoba (Canada) and trades on the TSX Venture Exchange under the symbol NHHH and in the USA on the OTCQB under the symbol NHHHF.
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") that are based on expectations, estimates and projections as of the date of this news release. The information in this release about future plans and objectives of the Company are forward-looking statements.
These forward-looking statements are based on assumptions and estimates of management of the Company at the time they were made and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Forward-looking information is provided to provide information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law.
