HydroGraph Clean Power Inc. announced a non-brokered private placement of 16,666,666 units at a price of CAD 0.12 per unit for aggregate gross proceeds of CAD 2,000,000 on March 22, 2023. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price of CAD 0.20 per warrant share for a period of 24 months after the closing date of the offering.

Each warrant will be subject to an acceleration right exercisable by the company, if on any ten consecutive trading days the daily volume weighted average trading price of the common shares on the Canadian Securities Exchange is CAD 0.30 or greater per common share. The company may pay certain finders a fee in connection with the sale of units to purchasers introduced to the company by such finders. The transaction is expected to close on or about April 7, 2023, or in any other date or dates as the company may determine.

closing of the offering is subject to receipt of all regulatory approvals and will occur within 45 days from the date hereof.