Provaris Energy's successful completion of Share Purchase Plan

Provaris Energy Ltd (ASX: $PV1) has successfully completed its Share Purchase Plan, raising $1.0 million to support ongoing commercial activities for the establishment of Compressed Hydrogen supply chain projects in Europe. The underwritten Shortfall Shares have provided additional funding for the company's ongoing planning for the restart and completion of Provaris' proprietary Prototype Tank program in Norway.

Provaris Chairman's Appreciation for Shareholders and Underwriters

The Board extends its gratitude to all shareholders who participated in the SPP. We also express our sincere appreciation to each of the underwriters, who are long-term material shareholders, for their steadfast support of the SPP.

Provaris Energy's Future Plans and Outlook

Provaris Energy Ltd (ASX: $PV1) has successfully completed its Share Purchase Plan, raising $1.0 million to support ongoing commercial activities for the establishment of Compressed Hydrogen supply chain projects in Europe. The additional funding will provide working capital to support the company's ongoing activities, including the planning for the restart and completion of Provaris' proprietary Prototype Tank program in Norway. The issuance of free attaching Options to participants in the SPP, with an exercise price of $0.075 and an expiry date of 2 years from the date of issue, aims to further incentivize and reward the shareholders. The company's focus on value creation through innovative development aligns with its business model of simple and efficient hydrogen production and transport, aiming to establish an early-mover advantage for regional maritime trade of hydrogen and unlock a world of potential. Provaris Energy's ambitions and goals include the development of a portfolio of integrated green hydrogen projects for the regional trade of Asia and Europe, leveraging its innovative compressed hydrogen bulk storage and carrier. The company's disclaimer emphasizes the importance of consulting advisors and conducting thorough investigations concerning the forward-looking statements and projections provided in the announcement.