Longhorn Exploration Corp. Acquires PureWave Hydrogen for Natural Hydrogen Projects in Kansas
Key Ideas
- Longhorn Exploration Corp. acquires PureWave Hydrogen, gaining access to five natural hydrogen lease agreements in Kansas, USA.
- The acquisition includes a three-year surplus escrow on all issued shares and a technical team from PureWave Hydrogen.
- PureWave Hydrogen aims to pioneer the discovery and development of white (natural) hydrogen resources across North America.
- The vision is to offer a sustainable alternative to traditional fossil fuels and explore natural hydrogen deposits in the United States and Canada.
Longhorn Exploration Corp., based in Vancouver, British Columbia, announced the acquisition of PureWave Hydrogen Corp., a Colorado company with natural hydrogen projects in Kansas, USA. The agreement includes acquiring all shares of PureWave Hydrogen and the five natural hydrogen lease agreements covering approximately 892.20 acres. These lease agreements allow for prospecting, exploring, drilling, and production of hydrogen gas from the properties, with landowners entitled to a 12.5% royalty. PureWave Hydrogen's mission is to pioneer white hydrogen resources and transform the energy landscape sustainably. Leveraging geospatial data, their team aims to explore natural hydrogen deposits in strategic regions of the US and Canada. The acquisition provides Longhorn with increased acreage, a technical team, and a pipeline of potential transactions. Shareholder approval and regulatory acceptance are required for the completion of the acquisition.