BROSSARD, Quebec, Oct. 14, 2022 (GLOBE NEWSWIRE) — CHARBONE HYDROGEN Corporation (TSXV:CH) (” MONEY ») announces the termination of the non-binding letter of intent (the “ letter of intent “) with GAUSSIN SA (” GAUSSIN ’), published in the May 24, 2022 press release, under the terms of which CHARBONE originally intended to invest in acquiring an exclusive license of GAUSSIN’s technology for the manufacture, commercialization, marketing, distribution and sale of off-road logistics vehicles in Canada.

The parties were unable to reach a final agreement on the various agreements and terms proposed for obtaining the license. CHARBONE will focus on the development and construction of its facilities for the production and distribution of green dihydrogen molecules.

About CHARBON

CHARBONE is a Canadian green hydrogen group based in North America. The company’s strategy is the development of modular and expandable hydrogen plants as well as regional hubs. With the acquisition of hydroelectric power plants in the United States and Canada, Charbone will be able to produce green hydrogen molecules with reliable and sustainable energy to differentiate itself as a green solution provider for industrial and commercial companies.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking information” within the meaning of Canadian securities laws (” forward-looking statements “). These forward-looking statements are often identified by words such as “intend”, “anticipate”, “expect”, “believe”, “plan”, “likely” or similar words. Forward-looking statements reflect the respective expectations, estimates or projections of management of Charbone with respect to future results or events that are based on management’s beliefs, assumptions and estimates believed to be reasonable at the time the statements are made, although Charbone believes that the expectations reflected in forward-looking statements are reasonable forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements because unknown or unpredictable factors could cause results to differ materially from the forward-looking statements certainties related to Charbone’s business. These risks, uncertainties and assumptions include, without limitation, those described under “Risk Factors” in the Company’s filing statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those anticipated in the forward-looking statements.

Except as required by securities laws, Charbone intends and assumes no obligation to update or revise any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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