CHARBONE HYDROGEN Corporation announced the execution, as of May 23, 2022, of an investment term sheet (the Term Sheet) with GAUSSIN SA (GAUSSIN), pursuant to which CHARBONE intends to invest in order to acquire an exclusive license of GAUSSIN's technology for the manufacturing, commercialization, marketing, distribution and sale of logistic off-road vehicles (the “Vehicles”) in Canada. The delivery of the Term Sheet remains subject to the execution, between GAUSSIN and Charbone, of a 20-year definitive license agreement with right to sublicense (the “Manufacturing and Commercial License Agreement”) by June 22, 2022.