Hot Rocks Investments plc
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Investment in Oscillate plc - hydrogen venture
- HRIP invests in Oscillate plc's hydrogen venture.
- Acquisition of Quantum Hydrogen for gas acreage planned.
- £500,000 raise at 1p/share, warrants at 2p/share.
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Hot Rocks Investments plc (HRIP)
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20th September 2024
HOT ROCKS INVESTMENTS PLC
(the “Company”)
Investment in Oscillate plc
We are pleased to announce that the Company has agreed to participate in the proposed financing as announced by Oscillate plc (“Oscillate”) (AQUIS:MUSH) today.
Oscillate announced that it has signed a conditional, binding Acquisition Agreement to acquire the entire issued share capital of Quantum Hydrogen Inc. (“Quantum Hydrogen”) to provide prospective hydrogen gas acreage, together with a placing to raise £500,000 at 1p per share together with one warrant for each placing share exercisable at 2p per share for a period of 2 years.
Quantum Hydrogen has exploration rights over approximately 60,000 acres in the State of Minnesota, USA, a region with a rich mining heritage, and well-endowed with infrastructure. The area includes overlying extensive banded iron formations which the Directors believe have the potential to generate hydrogen gases.
Gavin Burnell, Managing Director said:
“We have a healthy cash position and are continuing to build our diversified portfolio of early stage, high growth, exciting opportunities.
We look forward to updating the market on further new investments in the coming months.”
Hot Rocks Investments plc
Gavin Burnell Tel: 020 7264 4546
Optiva Securities Limited
Vishal Balasingham Tel: 020 3981 4178
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
| ISIN: | GB00B1WV3198 |
| Category Code: | MSCM |
| TIDM: | HRIP |
| LEI Code: | 213800JNSRPMZVREEO51 |
| Sequence No.: | 348247 |
| EQS News ID: | 1992677 |
| End of Announcement | EQS News Service |
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