Hot Rocks Investments plc: Investment in Oscillate plc - hydrogen venture

 

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