Hot Rocks Investments Plc Joins Financing of Oscillate's Hydrogen Project in Minnesota
Key Ideas
- Hot Rocks Investments plc is participating in financing Oscillate plc's hydrogen project by raising £500,000 through a share placing.
- Oscillate plc, listed as MUSH on AQUIS, is acquiring Quantum Hydrogen Inc. and exploration rights to 60,000 acres in Minnesota for hydrogen gas production.
- The investments aim to leverage the region's mining infrastructure for hydrogen gas generation from banded iron formations.
- Gavin Burnell, Managing Director of HRIP, highlights the company's cash position and strategy to diversify into high-growth opportunities.
Hot Rocks Investments plc (HRIP) is set to finance Oscillate plc's hydrogen project, which involves the acquisition of Quantum Hydrogen Inc. and exploration rights to 60,000 acres in Minnesota, USA. The financing will amount to £500,000 through a share placing at 1p per share, with each share including a warrant exercisable at 2p per share for two years. The goal of these investments is to utilize the region's mining infrastructure to explore the potential for hydrogen gas generation from banded iron formations. Gavin Burnell, Managing Director of HRIP, expressed confidence in the company's financial position and its strategic move towards diversification into promising high-growth opportunities. Burnell also hinted at upcoming updates on new investments in the near future.