QIMC's Strategic Partnership Boosts Ontario's Hydrogen Sector
Key Ideas
  • Quebec Innovative Materials Corp. (QIMC) forms a strategic collaboration with Record Resources in the Temiskaming hydrogen camp.
  • QIMC will strengthen its position in Ontario's renewable natural hydrogen sector through this partnership.
  • Record Resources has the option to purchase 50% of the Gross Revenue Royalty (GRR) at any time for $1,000,000.
  • The collaboration involves exploring hydrogen potential in the Lorrain-Bucke area, focusing on natural hydrogen resources and adjacent property acquisition.
Quebec Innovative Materials Corp. (QIMC) has announced a strategic collaboration with Record Resources in the Temiskaming hydrogen camp. QIMC will receive 6,600,000 shares of REC and a 1% Gross Revenue Royalty (GRR) from Record Resources as part of this partnership. The collaboration includes Record's option agreement to acquire property adjacent to QIMC's hydrogen discovery. The Lorrain-Bucke claim blocks in the Temiskaming area offer potential for natural hydrogen resources due to the geological features present. This partnership will enhance QIMC's presence in Ontario's renewable natural hydrogen sector while also maintaining focus on their existing Natural Hydrogen project in Quebec. Record Resources has the opportunity to buy 50% of the Gross Revenue Royalty (GRR) at any point for $1,000,000, further solidifying the collaboration. This strategic move aims to explore and utilize the hydrogen potential in the region, emphasizing the importance of renewable energy and sustainable natural resource development.
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