HTC Hydrogen Technologies Corp.
TSX VENTURE : HTC

HTC Hydrogen Technologies Corp.

October 15, 2007 16:33 ET

HTC Hydrogen Technologies Corp. (dba "HTC Purenergy") Completes Offering

REGINA, SASKATCHEWAN--(Marketwire - Oct. 15, 2007) - HTC Purenergy ("HTC") (TSX VENTURE:HTC) is pleased to announce that it has completed the offering previously announced on September 24, 2007 and issued 2,727,273 units ("Units") at a price of $2.20 per Unit, for gross proceeds of $6,000,000.60 ("Offering"). Each Unit consisted of one common share ("Common Share") and one Common Share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase one additional Common Share at a price of $3.00 per Share until October 12, 2009. The Common Shares issued are subject to a hold period under applicable securities law until February 13, 2008.

The exercise period for the Warrants will be accelerated (subject to standard notice terms and exercise conditions) if the Common Shares of HTC trade on the Toronto Stock Exchange or TSX Venture Exchange at or above a price of $5.00 for 20 or more consecutive trading days. Jacob & Company Securities Inc. ("Jacob & Company") acted as broker in respect of the Offering and was paid a cash commission of 8% of the gross proceeds of the Offering. Jacob & Company also received broker warrants to acquire Units ("Broker Unit Warrants") of HTC representing 8% of the Units issued under the Offering. Each Broker Unit Warrant entitles the holder to acquire one Unit for $2.20 at anytime until April 12, 2009. Jacob & Company continues to act as financial advisor to HTC.

Subject to HTC meeting the minimum listing requirements of a Tier 1 issuer, HTC will apply to the TSX Venture Exchange to move to Tier 1 issuer status from the company's present Tier 2 issuer status. Upon HTC becoming a Tier 1 issuer, HTC will, seek the approval of the Exchange to extend the warrant exercise period for the warrants offered under this Offering to 36 months.

The Offering has been approved by the board of directors of HTC and has been conditionally approved by the Exchange.

Net proceeds of the Offering will be used for business development, including commercialization of HTC Purenergy's CO2 capture management product offer and general corporate purposes.

HTC Purenergy corporate developments can be followed on www.htcenergy.com and is traded under the symbol HTC.

The TSX Venture Exchange Inc. does not take any responsibility for the adequacy or accuracy of the information contained in this news release.

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