Primary Hydrogen closes LIFE offering

Calgary, Alberta--(Newsfile Corp. - July 8, 2026) - Primary Hydrogen Corp.  (TSXV: HDRO) (OTCQB: HNATF) (FSE: 83W)  (" Primary Hydrogen " or the " Company ") announces that, further to its news release dated June 4, 2026, and June 23, 2026, the Company has closed its LIFE non-brokered private placement (the " Offering "), issuing a total of 2,459,570 units of the Company (" Units ") at a price of $0.60 per Unit, for aggregate gross proceeds of approximately $1,475,742. Each Unit consists of one common share in the capital of the Company (a " Common Share ") and one Common Share purchase warrant (a " Warrant "). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.80 per Common Share for a period of twenty-four (24) months from the date of issuance, provided the Warrants shall not be exercisable for a period of 60 days from the date of issuance.

The Units were issued on a private placement basis pursuant to the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (" NI 45-106 "), as amended and supplemented by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption . Accordingly, the Units will not be subject to a hold period in accordance with applicable Canadian securities laws. In connection with the closing of the Offering, the Company issued 150,979 finders' warrants to Research Capital Corporation.

Each finders' warrant will be exercisable for one Common Share at the price of $0.80 for a period of twenty-four (24) months from the date of issuance. In connection with the use of proceeds from the Offering, the Company immediately paid an aggregate $10,000 in cash to Martin Kowchun (" Mr. Kowcun ") and William Timothy Heenan (" Mr. Heenan "), each a director of the Company, to partially settle an outstanding and bona fide debt. Following these payments, the Company received aggregate proceeds of approximately $1,465,742, which it intends to use for general working capital and general administrative purposes.

The Company may also use a portion of the net proceeds to acquire additional exploration properties if suitable opportunities arise. The securities issued pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the " U.S. Securities Act ") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Related Party Transaction Disclosure Participation in the Offering by both Mr. Kowcun and Mr. Heenan, each a director of the Company, constitutes a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). Mr. Kowcun acquired 15,187 Units in the Offering and, in connection with the use of proceeds, the Company immediately applied $5,000 of the gross proceeds of the Offering to partially settle an outstanding and bona fide debt owing to Mr. Kowcun. Mr. Heenan acquired 8,333 Units in the Offering and, in connection with the use of proceeds, the Company immediately applied $5,000 of the gross proceeds of the Offering to partially settle an outstanding and bona fide debt owing to Mr. Heenan.