Powertap Hydrogen Capital Corp. announced a non-brokered private placement of 6,666,667 units of the company at a price of CAD 0.15 per unit for gross proceeds of CAD 1,000,000 on September 12, 2022. Each unit consists of one common share and one transferable Share purchase warrant.

Each Warrant shall entitle the holder thereof to purchase one additional Share of the Company at a price of CAD 0.30 for a period of 24 months from the date of issuance. The company did not pay a finder's fee. The securities issued are subject to a statutory four month and one day hold period that expires on December 27, 2022.