Next Hydrogen Announces Aggregate of $1.5 million in Loans and Provides Corporate Update
Next Hydrogen Solutions (OTC:NXHSF) has secured $1.5 million in total loans to support its working capital needs. The financing consists of a $530,000 unsecured loan from company insiders at 5% annual interest and a potential $1 million loan from an arm's length commercial lender.
The insider loan includes the issuance of 214,140 bonus shares at $0.495 per share and is convertible to common shares. The company will also pay a $20,000 setup fee. The loans will help bridge Next Hydrogen's financial position while it evaluates longer-term strategic solutions. Additionally, the company announced its last trading day on OTCQX will be July 24, 2025.
Next Hydrogen Solutions (OTC:NXHSF) ha ottenuto prestiti totali per 1,5 milioni di dollari per supportare le proprie esigenze di capitale operativo. Il finanziamento comprende un prestito non garantito di 530.000 dollari da parte di soggetti interni all'azienda con un interesse annuo del 5% e un potenziale prestito di 1 milione di dollari da un prestatore commerciale indipendente.
Il prestito interno prevede l'emissione di 214.140 azioni bonus al prezzo di 0,495 dollari per azione ed è convertibile in azioni ordinarie. L'azienda pagherà inoltre una commissione di apertura di 20.000 dollari. Questi prestiti aiuteranno a sostenere la posizione finanziaria di Next Hydrogen mentre valuta soluzioni strategiche a lungo termine. Inoltre, la società ha annunciato che l'ultimo giorno di negoziazione su OTCQX sarà il 24 luglio 2025.
Next Hydrogen Solutions (OTC:NXHSF) ha asegurado préstamos totales por 1,5 millones de dólares para apoyar sus necesidades de capital de trabajo. El financiamiento consiste en un préstamo no garantizado de 530,000 dólares de parte de personas internas de la empresa con un interés anual del 5% y un posible préstamo de 1 millón de dólares de un prestamista comercial independiente.
El préstamo interno incluye la emisión de 214,140 acciones bono a 0,495 dólares por acción y es convertible en acciones comunes. La empresa también pagará una tarifa de configuración de 20,000 dólares. Los préstamos ayudarán a mejorar la posición financiera de Next Hydrogen mientras evalúa soluciones estratégicas a largo plazo. Además, la empresa anunció que su último día de negociación en OTCQX será el 24 de julio de 2025.
Next Hydrogen Solutions (OTC:NXHSF)는 운영 자본 필요를 지원하기 위해 총 150만 달러의 대출을 확보했습니다. 이번 자금 조달은 회사 내부자들로부터 연 5% 이자의 53만 달러 무담보 대출과 독립 상업 대출 기관으로부터의 100만 달러 대출 가능성을 포함합니다.
내부자 대출에는 주당 0.495달러에 214,140주 보너스 주식 발행이 포함되며, 이는 보통주로 전환 가능합니다. 회사는 또한 2만 달러 설정 수수료를 지불할 예정입니다. 이 대출들은 Next Hydrogen이 장기 전략적 해결책을 모색하는 동안 재무 상태를 유지하는 데 도움이 될 것입니다. 추가로, 회사는 OTCQX에서의 마지막 거래일이 2025년 7월 24일임을 발표했습니다.
Next Hydrogen Solutions (OTC:NXHSF) a obtenu des prêts totalisant 1,5 million de dollars pour soutenir ses besoins en fonds de roulement. Le financement comprend un prêt non garanti de 530 000 dollars accordé par des initiés de l'entreprise à un taux d'intérêt annuel de 5 %, ainsi qu'un prêt potentiel de 1 million de dollars auprès d'un prêteur commercial indépendant.
Le prêt des initiés inclut l'émission de 214 140 actions bonus au prix de 0,495 dollar par action et est convertible en actions ordinaires. L'entreprise paiera également des frais d'établissement de 20 000 dollars. Ces prêts aideront à renforcer la position financière de Next Hydrogen pendant qu'elle évalue des solutions stratégiques à plus long terme. De plus, la société a annoncé que son dernier jour de cotation sur OTCQX sera le 24 juillet 2025.
Next Hydrogen Solutions (OTC:NXHSF) hat Gesamtdarlehen in Höhe von 1,5 Millionen US-Dollar zur Unterstützung seines Betriebskapitals gesichert. Die Finanzierung besteht aus einem 530.000 US-Dollar ungesicherten Darlehen von Unternehmensinsidern mit 5 % Jahreszins und einem möglichen 1-Million-US-Dollar-Darlehen von einem unabhängigen kommerziellen Kreditgeber.
Das Insider-Darlehen umfasst die Ausgabe von 214.140 Bonusaktien zum Preis von 0,495 US-Dollar pro Aktie und ist in Stammaktien wandelbar. Das Unternehmen wird außerdem eine Einrichtungsgebühr von 20.000 US-Dollar zahlen. Die Darlehen sollen Next Hydrogen finanzielle Unterstützung bieten, während das Unternehmen langfristige strategische Lösungen prüft. Zusätzlich gab das Unternehmen bekannt, dass der letzte Handelstag an der OTCQX der 24. Juli 2025 sein wird.
- None.
- Company requires bridge financing for continued operations
- Delisting from OTCQX market could reduce trading liquidity
- Potential shareholder dilution from bonus shares and conversion rights
- No guarantee of securing the $1 million commercial loan
MISSISSAUGA, Ontario, July 23, 2025 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. (the “Company” or “Next Hydrogen”) (TSXV:NXH, OTC:NXHSF), is pleased to announce that it is entering into a loan agreement with certain existing directors and officers of the Company (the “Lenders”) providing for the advance of an unsecured loan (the “Loan”) bearing interest at
The advance of the Loan is expected to take place on July 23, 2025, immediately prior to the advance of a
In consideration of the advance of the Loan by the Lenders, the Company shall, subject to the approval of the TSX Venture Exchange (the “TSXV”) in accordance with the policies of the TSXV, issue to the Lenders, an aggregate of 214,140 common shares of the Company (“Common Shares”) at a deemed price of
In addition, subject to the approval of the TSXV in accordance with the policies of the TSXV, the Loan may be converted into Common Shares (the “Conversion Shares”) at the option of the Company, in whole or in part, on the earlier of the Maturity Date or the closing of an offering of equity securities of the Company.
Next Hydrogen intends to use the proceeds of the Loan and the Original Loan for working capital and general corporate purposes. The Loan and the Original Loan will assist the Company in bridging its financial position in order to keep its talented team and continue operations while it evaluates longer term financial and strategic solutions.
In conducting its review of financial and strategic solutions, the Company’s board and management team are committed to acting in the best interests of the Company, its shareholders and its stakeholders. There is no deadline or definitive timetable for the completion of the review of financial and strategic solutions, and the Company does not intend to comment further unless the Company’s board has approved a specific transaction or otherwise determined that disclosure is necessary or appropriate. There can be no assurances that the review will result in any specific transaction or outcome.
This issuance of the Loan Bonus Shares and the Conversion Shares, if applicable, are subject to receipt of all required regulatory approvals, including that of the TSXV. The TSXV has in no way passed upon the merits of the Loan or the Original Loan and has neither approved nor disapproved the contents of this press release.
All moneys quoted in this press release shall be stated and paid in the lawful money of Canada.
The Company also advises that the last day of trading of the Common Shares on the OTCQX will be Thursday, July 24, 2025.
The Lenders consist of Allan MacKenzie, Anthony Guglielmin, Adarsh Mehta, Jens Peter Clausen, Susan Uthayakumar and Walter Howard, each a director of the Company, Raveel Afzaal, the Chief Executive Officer and a director of the Company and Rohan Advani, the Chief Financial Officer of the Company. Each Lender is an Insider of the Company (as such term is defined under the policies of the TSXV) and the participation of Insiders in the Loan would constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(b) as the Company is not listed on a specified market and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(b), based on a determination that the fair market value of the Loan, insofar as it involves the related parties, will not exceed
About Next Hydrogen
Founded in 2007, Next Hydrogen is a designer and manufacturer of electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors.
Contact Information
Raveel Afzaal, President and Chief Executive Officer
Next Hydrogen Solutions Inc.
Email: rafzaal@nexthydrogen.com
Phone: 647-961-6620
www.nexthydrogen.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements
This news release contains “forward-looking information” and “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes”, or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the risk that the Loan and the Original Loan will not be completed as planned or at all; changes to the use of proceeds of the Loan and the Original Loan, risks associated with the pursuit of any financial or strategic transaction or the completion thereof, the risks associated with the hydrogen industry in general; delays or changes in plans with respect to infrastructure development or capital expenditures; uncertainty with respect to the timing of any contemplated transactions or partnerships, or whether such contemplated transactions or partnerships will be completed at all; the timing for any submissions or correspondences with applicable securities laws regulators; whether the uncertainty of estimates and projections relating to costs and expenses; failure to obtain timely necessary regulatory approvals and all required TSXV approvals; health, safety and environmental risks; uncertainties resulting from potential delays or changes in plans with respect to infrastructure developments or capital expenditures; currency exchange rate fluctuations; as well as general economic conditions, stock market volatility; and the ability to access sufficient capital. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, there will be no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
FAQ
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