HTC Hydrogen Technologies Corp.
TSX VENTURE : HTC

HTC Hydrogen Technologies Corp.

May 01, 2007 16:19 ET

HTC Hydrogen Technologies Corp. (dba "HTC Purenergy") Announces $5,000,000 Bought Deal Financing

REGINA, SASKATCHEWAN--(CCNMatthews - May 1, 2007) - HTC Purenergy ("HTC") (TSX VENTURE:HTC) is pleased to announce today that is has entered into an agreement with Jacob & Company Securities Inc. ("Jacob & Company") pursuant to which, Jacob & Company has agreed to purchase, on a bought deal basis, 2,000,000 units ("Units") at a price of $2.50 per Unit, for the gross proceeds of $5,000,000 (the "transaction"). Each Unit will consist 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 for a period of 18 months after the date of issuance of the Units. 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 a recognized stock exchange at or above a price of $5.00 for 20 or more consecutive trading days.

The transaction, which is subject to all necessary regulatory approvals, has been approved by the board of directors of HTC.

Net proceeds of the transaction 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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