Hot Rocks Investments plc to Invest in Hydrogen Venture with Oscillate plc
Key Ideas
  • Hot Rocks Investments plc has agreed to participate in the financing of Oscillate plc's acquisition of Quantum Hydrogen Inc., focusing on hydrogen gas acreage in Minnesota, USA.
  • Quantum Hydrogen has exploration rights over 60,000 acres in Minnesota, believed to have the potential for generating hydrogen gases from extensive banded iron formations.
  • The investment involves a placing to raise £500,000 at 1p per share with additional warrants, reflecting Hot Rocks Investments plc's strategy to build a diversified portfolio of high growth opportunities.
  • Gavin Burnell, Managing Director, expressed optimism about the investment and hinted at upcoming new investments, indicating a positive outlook for the company's future ventures.
Hot Rocks Investments plc has announced its participation in the financing of Oscillate plc's acquisition of Quantum Hydrogen Inc. in a move towards investing in hydrogen ventures. Oscillate has signed an Acquisition Agreement to acquire Quantum Hydrogen, aiming to tap into hydrogen gas acreage in Minnesota, USA. Quantum Hydrogen holds exploration rights over approximately 60,000 acres in the State of Minnesota, known for its rich mining heritage and infrastructure. The area's banded iron formations are seen as promising sources for generating hydrogen gases. The financing includes a placing to raise £500,000 at 1p per share, coupled with warrants exercisable at 2p per share over a 2-year period. Gavin Burnell, the Managing Director of Hot Rocks Investments plc, highlighted the company's strong financial position and commitment to expanding its portfolio with early-stage, high growth opportunities. This investment aligns with the company's strategy of pursuing exciting ventures. Burnell also hinted at forthcoming updates on new investments, indicating a positive outlook for Hot Rocks Investments plc's future endeavors.
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