TORONTO, Feb. 4, 2025 /CNW/ – FuelPositive Corporation (TSXV: NHHH) (OTCQB: NHHHF) (“FuelPositive” or the “Company”) provides an update on its financial reporting and regulatory status. The Company is actively working with its auditors to complete the required annual financial statements and accompanying management’s discussion and analysis for the fiscal year of September 30, 2024.
The filing deadline of January 28, 2025, was not met due to the restructuring of FuelPositive’s financial team and Board of Directors, which required additional time to transition financial reporting responsibilities and associated analysis. Additionally, unforeseen delays from a third-party accounting firm, engaged before the restructuring to assist the auditors, further extended the timeline. While this caused a temporary delay, it does not reflect any operational concerns—FuelPositive remains fully operational and focused on its core business objectives.
As a result of the missed deadline, the Ontario Securities Commission (OSC) issued a Cease Trade Order (CTO) on February 3, 2025. However, FuelPositive’s auditors expect to finalize the audit and the Company will submit the necessary filings on or before February 21, 2025. The Company is committed to working closely with regulatory authorities, including the OSC and TSX Venture Exchange, to have the CTO lifted as quickly as possible once the filings are complete.
Despite this administrative delay, FuelPositive remains steadfast in advancing toward commercialization. The Company is making significant progress toward activating its first on-farm Green Ammonia system in Sperling, Manitoba. This milestone will demonstrate the commercial viability and real-world impact of its technology. Regulatory and system readiness are on track, ensuring a smooth transition to this next critical phase.
Additionally, FuelPositive is actively engaged in capital-raising initiatives and discussions with the Government of Manitoba to secure key support for expansion in the province. These efforts aim to accelerate the development and manufacturing of its Green Ammonia technology, create high-value clean economy jobs, and provide farmers with greater resilience and energy independence.
FuelPositive remains dedicated to delivering long-term value to its shareholders and will provide further updates in the coming weeks as the audit process is finalized and the Company moves forward with its strategic milestones.
FuelPositive Corporation
FuelPositive is leading the future of agriculture with the world’s first farmer-owned, on-farm Green Ammonia production systems. The Company’s modular and innovative technology offers a predictable, reliable, and affordable solution for directly producing green fertilizer and fuel on-farm, reducing reliance on external supply chains.
Groundbreaking AgTech and Green Energy:
FuelPositive’s containerized Green Ammonia production systems are transforming the Green Ammonia industry by decentralizing production. This new fertilizer production approach aims to empower farmers to generate green nitrogen fertilizer and carbon-free fuel on-site, ensuring stable costs and supply. Each ton of ammonia produced by FuelPositive systems eliminates up to 2 tons of CO2e emissions, providing an environmentally sustainable solution that is also easily accessible and remotely monitored, enabling farmers to focus on their operations without added complexity.
First System Delivery: A Milestone in Sustainable Agriculture:
In June 2024, FuelPositive delivered its first commercial system, the FP300, to Tracy and Curtis Hiebert’s 11,000-acre grain farm near Sperling, Manitoba. This milestone marks a significant advancement for both FuelPositive and sustainable agriculture. The system activation this fall will further demonstrate the transformative impact of the Company’s technology on farming practices, driving a more sustainable future.
Manitoba: A Global Center of Excellence:
FuelPositive is positioning Manitoba as a leader in decentralized Green Ammonia production. The Company’s vision includes establishing a world-leading manufacturing hub that will generate highly skilled engineering, science, and trade jobs and contribute to the local economy over the coming years.
See sales details here: https://fuelpositive.com/sales/.
FuelPositive Corporation is based in Ontario and Manitoba (Canada) and trades on the TSX Venture Exchange under the symbol NHHH and in the USA on the OTCQB under the symbol NHHHF.
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) that are based on expectations, estimates and projections as of the date of this news release. The information in this release about future plans and objectives of the Company are forward-looking statements.
These forward-looking statements are based on assumptions and estimates of management of the Company at the time they were made and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Forward-looking information is provided to provide information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking information or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law.
SOURCE FuelPositive Corp.
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