Oscillate Plc - Agreement with Quantum Hydrogen Inc
12 July 2024
Oscillate PLC
("Oscillate" or the "Company")
Agreement with Quantum Hydrogen, Inc.
Oscillate is pleased to announce that it has entered into non-binding Heads of Terms regarding the potential acquisition of Quantum Hydrogen, Inc., a corporation established in the State of Texas, USA ("Quantum").
About Quantum:
On 24 January 2024, Quantum exercised an option giving it exploration rights over approximately 60,000 acres in the state of Minnesota, 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.
The Heads of Terms provide for a 60-calendar day due diligence period and the Company will make further announcements as necessary.
Steve Xerri, Oscillate Executive Director, commented: "We believe that Quantum could be an attractive introduction to the growing Hydrogen Energy space in a country where demand for `Green Hydrogen' abounds. We look forward to updating investors in due course."
The Directors of the Company accept responsibility for the content of this announcement.
Enquiries:
Company
Oscillate PLC
John Treacy
Corporate Adviser
Peterhouse Capital Limited
Telephone: 020 7220 979