September 17, 2024 – TheNewswire - PowerTap Hydrogen Capital Corp. (“PowerTap” or the “Company”),  announces that as a result of a review by the British Columbia Securities Commission (the "BCSC") in connection with the Company’s application for a full revocation of the Dual Failure-to-File Cease Trade Order (the “FFCTO”), the Annual Information Form for the year ended June 30, 2023 (the “AIF”) and the management discussion & analysis’ for the interim periods ended December 31, 2023 and March 31, 2024 (the "MD&As") have been revised and/or amended and re-filed on SEDAR+ at www.sedarplus.ca under the Company’s profile.

 

The amended MD&As includes:

• an updated discussion on the description of the Company’s business;  

•         a discussion on the Company's plan for its Gen3 hydrogen dispensing unit design and the status of the development;

• a discussion on the Company’s shift to focus on the heavy duty FCET market   and the Company’s development plans;  

• a discussion on the Company’s projects which have recently been terminated and the reasons for such terminations;  

• a discussion on how the Company will continue as a going concern; 

• identification of specific related parties with whom the Company has entered into contracts with; and  

• a status update to the various agreements, LOIs and MoUs recently signed.  

 

The AIF has been revised to:

•         clarify that the Company anticipates the roll out of the Gen3 hydrogen dispensing units in California to commence in 2025; and

• remove promotional language and correct clerical errors. 

 

The enhanced disclosure in the amended and restated MD&As and revised AIF is aimed to provide the reader with a broader understanding of the Company’s business and commitments moving forward.

  

ABOUT POWERTAP HYDROGEN CAPITAL CORP.

PowerTap Hydrogen Capital Corp., through its wholly owned subsidiary, PowerTap Hydrogen Fueling Corp. (“PowerTap”), is focused on installing hydrogen production and dispensing fueling infrastructure in the United States. PowerTap’s patented solution has been developed over 20 years. PowerTap is now commercializing its third-generation blue hydrogen product that will focus on the refueling needs of the automotive and long-haul trucking markets that lack hydrogen fueling infrastructure.

www.PowerTapcapital.com

www.PowerTapfuels.com

PowerTap Contact:

Raghu Kilambi raghu@hydrogenfueling.co

+1 (949) 284-7060

Notice Regarding Forward Looking Information: This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements in this news release include, but are not limited to, statements, management’s beliefs, expectations or intentions regarding the Company’s ability to resolve the outstanding FFCTO , the hydrogen extraction market and the general economy, the Company’s business plans and strategy, including anticipated capital deployments and the timing thereof, and the Company’s ability to raise sufficient capital to funds its business plan.

Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur or be achieved. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking information contained in this press release.

 

Although the Company believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

 

The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise