On June 23, 2023, First Hydrogen Corp. closed the transaction. The company announced that it has issued 425,000 units at an issue price of CAD 2.400000384 per unit for the gross proceeds of CAD 1,020,000 in the second tranche. Each unit comprises one common share and one common share purchase warrant. Each warrant is exercisable to acquire one common share at a price of CAD 2.85 per common share until June 22, 2025. The company has paid eligible finders a cash commission in the amount of CAD 81,600, being 8% of the aggregate proceeds from the sale of units to purchasers introduced by the finders, and issued an aggregate of 34,000 non-transferable share purchase warrants, being 8% of the number of units sold under the offering to purchasers introduced by the finders. Each finder's warrant entitles the holder thereof to purchase one share at a price of CAD 2.85 per share until June 22, 2025, subject to a four-month hold period.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 20 placees. The company has paid the finder's fees of CAD 22,617.60 in cash and 134,424 warrants.