First Atlas Announces C$2 Million Bought Deal Financing for Nova Scotia Natural Hydrogen Exploration

First Atlas Resources Corp. has announced a C$2 million bought deal private placement financing led by Research Capital Corporation, as the company continues advancing its natural hydrogen exploration activities in Nova Scotia. 

Under the offering, First Atlas plans to issue approximately 28.6 million units at C$0.07 per unit, with each unit consisting of one common share and one warrant exercisable at C$0.09 for a period of 36 months. The underwriter also holds an option to increase the financing by an additional C$300,000 through the sale of extra units. 

The financing is being conducted under Canada’s Listed Issuer Financing Exemption (LIFE), which allows securities issued in the offering to be immediately freely tradeable for Canadian investors under applicable securities legislation. 

According to the company, proceeds from the financing will primarily be used for general working capital purposes as First Atlas continues advancing exploration efforts across the Cobequid-Chedabucto structural corridor in Nova Scotia. 

Formerly known as QMET, First Atlas is focused on natural hydrogen exploration in Nova Scotia using geological and geophysical targeting methods aimed at identifying prospective hydrogen systems within the region’s large fault-controlled structural trends. 

The financing announcement reflects the continued flow of capital into the emerging natural hydrogen sector, where exploration companies are increasingly raising funds to expand drilling, geophysics, and regional targeting programs tied to structurally controlled hydrogen systems. 

Full press release can be found here.