First Hydrogen Arranges Financing up to $6,000,000

April 29, 2022

Vancouver, B.C., April 22, 2022 Vancouver, British Columbia – First Hydrogen Corp. (“FIRST  HYDROGEN” or the “Company”) (TSXV: FHYD) (OTC: FHYDF) (FSE: FIT) has arranged a non-brokered  private placement of units for up to $6.0 million. The private placement will consist of up to 2,222,222 million  units at $2.70 per unit for gross proceeds of $6.0 million, where each unit will consist of one common share  and a non-transferrable common share purchase warrant. Each warrant is exercisable at $3.70 into one  common share, for a period of two years from the date of closing.  

All securities issued pursuant to the unit financing will be subject to a four-month plus a day hold period under  applicable securities laws in Canada.  

Finders’ fees may be paid by the company in conjunction with the completion of the financing in accordance  with the TSX Venture Exchange policies.  

The Company reserves the right to accept, reject or partially fill any subscriptions received up to the aggregate  amount permitted by the TSX-V. 

The Company intends to use the net proceeds from the financing for working capital and general corporate  purposes. 

About First Hydrogen Corp. (

First Hydrogen Corp. is a Vancouver and London UK-based company focused on zero-emission vehicles and  supercritical carbon dioxide extractor systems. The company is designing and developing a hydrogen-fuel cell-powered light commercial demonstrator vehicle (“LCV”) under two agreements with AVL Powertrain  and Ballard Power Systems Inc. The LCV will have a range of 500+ kilometres. First Hydrogen is developing  refueling capability working with FEV Consulting GmbH, the internal automotive consultancy of FEV Group  of Aachen Germany. The Company is also pursuing opportunities in green hydrogen production and  distribution.  

On behalf of the Board of Directors of  

“Balraj Mann”
Chairman & Chief Executive Officer


North America
Balraj Mann, Chairman & Chief Executive Officer

Nicholas Wrigley, Chairman  First Hydrogen Automotive
+44 7917-114434

Cautionary Note Regarding Forward-Looking Statements This news release contains information or statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of First Hydrogen, and includes statements about, among other things, future developments and the future operations, strengths and strategies of First Hydrogen. Forward looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be read as guarantees of future performance or results.

The forward-looking statements made in this news release are based on management’s assumptions and analysis and other factors that may be drawn upon by management to form conclusions and make forecasts or projections, including management’s experience and assessments of historical trends, current conditions and expected future developments. Although management believes that these assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand for First Hydrogen’s products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and general market and economic conditions.

The forward-looking information contained in this news release represents the expectations of First Hydrogen as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. First Hydrogen undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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