CHARBONE CORPORATION (TSXV: CH; OTCQB: CHHYF; FSE: K47), a vertically integrated industrial gases company focused on clean ultra-high purity (UHP) hydrogen and other strategic gases, today released its financial and operational results for the year ended December 31, 2025. The company reported a net loss of $2,676,116, a 6% decrease from $2,837,693 in 2024, driven by tightened general and administrative expenses. Notably, CHARBONE generated $201,277 in gas income in 2025, compared to nil in the prior year, reflecting initial revenues from industrial gases including clean UHP hydrogen from its Sorel-Tracy facility Phase 1A, along with UHP helium and UHP oxygen.
The company also recognized revenues under a Master Collaborative Agreement supporting a Malaysian green hydrogen project development. CHARBONE closed a private placement of $1,012,980, units for debt settlement of $1,776,827, shares for management debt settlement of $310,000, exercised warrants totaling $1,943,034, and an additional $303,634 in convertible debentures. As of December 31, 2025, the company held a cash balance of $1,016,292. Subsequently, CHARBONE closed a $3,100,000 private placement on January 12, 2026, and received a $3,000,000 first drawdown on a new $10 million secured convertible loan on April 29, 2026, with optional drawdowns available.
In October 2025, CHARBONE completed the acquisition and reinstallation of operational hydrogen production and refueling equipment at its Sorel-Tracy site following an Asset Purchase Agreement with Harnois Energies Inc. The company issued 13,333,334 common shares at $0.075 per share, representing $1 million in equity consideration to Harnois. CHARBONE is now progressing with Phase 1B at Sorel-Tracy to increase hydrogen production capacity in Q3 2026 while expanding its other specialty gases platform.
“CHARBONE’s disciplined financial management, operational execution and successful completion of new financings, position the Company to continue its growth as a vertically integrated industrial gases producer and distributor,” said Benoit Veilleux, Chief Financial Officer and Corporate Secretary. “CHARBONE is moving into execution mode to unlock its strong growth potential.”
The company has reserved June 18, 2026, for its 2024 and 2025 Annual General and Extraordinary Meetings of Shareholders (AGSM), with further details to be sent to shareholders. Additionally, CHARBONE’s Board of Directors has approved a new omnibus equity incentive plan (the “Omnibus Plan”), subject to TSX Venture Exchange approval. The Omnibus Plan, if approved at the AGSM, will replace the current stock option plan and allow for incentive awards including stock options, restricted share units, performance share units, and deferred share units. The aggregate number of common shares reserved for issuance under the plan shall not exceed 10% of the company’s total issued and outstanding shares. The company also cancelled 2,050,000 options granted on September 9, 2022, at an exercise price of $0.60 per share.
These developments underscore CHARBONE’s strategic shift into revenue generation and capacity expansion. For more information, visit www.charbone.com. The company’s filing statement is available on SEDAR at www.sedar.com.
