Vancouver, British Columbia – Pure Extraction Corp. (“Purx” or the “Company”) has entered into two non-binding letters of intent with a company specializing in the energy, zero emissions mobility and renewable sectors for the assignment of two non-binding letters of intent to design and produce a zero-emissions prototype van.
The Company has sixty days to complete its due diligence and if thought fit enter into binding definitive agreements. Under the terms of the assignments the Company upon execution of the definitive agreements and TSX Venture Exchange (“Exchange”) approval is required to issue a total of three million shares which are to be voluntarily escrowed and released over period of thirty-six months.
Purx and assignor company are at arm’s length.
Finder’s fees are payable to an arm’s length party in accordance with Exchange policies upon approval of the transaction.
On behalf of the Board of Directors
FIRST HYDROGEN CORP.
Chairman & Chief Executive Officer
Balraj Mann, Chairman & Chief Executive Officer
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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.
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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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