Mr. Dave Gagnon reports

CHARBONE HYDROGEN ANNOUNCES CLOSING OF UNITS FOR DEBTS ISSUANCE AND PROVIDES A CORPORATE UPDATE ON MANAGEMENT ADVANCES

Charbone Hydrogen Corp. has closed its units for debt settlements of $50,000.

The company has settled with an arm's-length supplier $50,000 of payables through the issuance of units. Each of the units offered, priced at 10 cents per unit, comprised one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of 12 cents for a period of 12 months following the closing date. A total of 500,000 units will be issued pursuant to the closing at a conversion price per unit of 10 cents. The company believes that the settlement of the payables through the issuance of securities is appropriate at the present time in light of the various project commitments and the overall need to manage its cash in a prudent manner. Any debt settlement will be reflected by a formal agreement and will be subject to the approval of the TSX Venture Exchange. Any securities issued pursuant to a debt settlement will be subject to a statutory four-month hold period in Canada and be released in a manner of 25 per cent of the total shares received every quarter over a period of 12 months.

In addition, during Q4 2023, Charbone received the repayment of the full amount remaining as of Sept. 30, 2023 ($21,153), of the chief financial officer's shareholder advance to help finance continuing corporate activities.

About Charbone Hydrogen Corp.

Charbone is an integrated green hydrogen group focused on delivering a North American network of production facilities and technological solutions for the creation and distribution of green hydrogen produced from clean and renewable energies. Providing ecofriendly energy solutions for industrial, institutional, commercial and future mobility users, the company's strategy is to develop modular and expandable hydrogen facilities producing green and low-carbon intensity dihydrogen molecules, with the goal of scaling to deliver 16 modular and scalable green hydrogen production facilities in strategic areas across North America by 2030.

As North America's only publicly traded pure play green hydrogen company, Charbone's common shares are active on the TSX Venture Exchange; the OTCQB and the Frankfurt Stock Exchange.

We seek Safe Harbor.