St-Georges Receives an Offer to Acquire a Majority Stake in H2SX
St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF) has announced a significant financing agreement for its hydrogen technology subsidiary, H2SX Corp. A private Canadian company will invest $7,500,000 through a private placement of units at $0.75 per unit, including shares and warrants. Additionally, the investor will purchase 75% of St-Georges' holding in H2SX for $1,500,000.
The deal includes an initial $1,000,000 non-refundable payment within 30 days, followed by due diligence. Upon successful review, the remaining $6,500,000 will be paid. This agreement will free St-Georges from further financing obligations towards H2SX, allowing it to focus on its primary activities. H2SX plans to use the investment to accelerate its cheap and clean hydrogen (ccH2™) production technology development and deployment.
St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF) ha annunciato un importante accordo di finanziamento per la sua sussidiaria tecnologica dell'idrogeno, H2SX Corp. Una società privata canadese investirà $7.500.000 attraverso un collocamento privato di unità a $0,75 per unità, inclusi azioni e warrant. Inoltre, l'investitore acquisterà il 75% della partecipazione di St-Georges in H2SX per $1.500.000.
L'accordo comprende un pagamento iniziale non rimborsabile di $1.000.000 entro 30 giorni, seguito da una due diligence. Dopo una revisione positiva, il restante $6.500.000 sarà versato. Questo accordo solleverà St-Georges da ulteriori obblighi di finanziamento nei confronti di H2SX, permettendole di concentrarsi sulle proprie attività principali. H2SX prevede di utilizzare l'investimento per accelerare lo sviluppo e l'implementazione della sua tecnologia per la produzione di idrogeno economico e pulito (ccH2™).
St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF) ha anunciado un acuerdo de financiamiento significativo para su filial de tecnología de hidrógeno, H2SX Corp. Una empresa privada canadiense invertirá $7,500,000 a través de una colocación privada de unidades a $0.75 por unidad, que incluye acciones y opciones. Además, el inversor comprará el 75% de la participación de St-Georges en H2SX por $1,500,000.
El acuerdo incluye un pago inicial no reembolsable de $1,000,000 dentro de los 30 días, seguido de una diligencia debida. Tras una revisión exitosa, se pagará el restante $6,500,000. Este acuerdo liberará a St-Georges de futuras obligaciones de financiamiento hacia H2SX, permitiéndole concentrarse en sus actividades principales. H2SX planea utilizar la inversión para acelerar el desarrollo y la implementación de su tecnología de producción de hidrógeno limpio y económico (ccH2™).
St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)가 자사의 수소 기술 자회사인 H2SX Corp.를 위해 중요한 자금 조달 계약을 발표했습니다. 한 캐나다의 민간 회사가 $7,500,000를 투자할 예정이며, 이는 주식 및 워런트를 포함한 단위당 $0.75의 사모 배치를 통해 이루어집니다. 또한, 투자자는 H2SX에서 St-Georges의 지분 75%를 $1,500,000에 구매할 것입니다.
이번 거래에는 초기 $1,000,000의 환불 불가 지급이 30일 이내에 이루어지며, 그 후 실사를 진행합니다. 성공적인 검토가 이루어지면 나머지 $6,500,000이 지급됩니다. 이 계약은 St-Georges가 H2SX에 대한 추가 자금 조달 의무에서 벗어나게 하여, 주요 활동에 집중할 수 있도록 합니다. H2SX는 이 투자를 통해 저렴하고 청정한 수소(ccH2™) 생산 기술의 개발과 배치를 가속화할 계획입니다.
St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF) a annoncé un accord de financement significatif pour sa filiale technologique de l'hydrogène, H2SX Corp. Une entreprise privée canadienne investira 7 500 000 $ par le biais d'un placement privé d'unités à 0,75 $ par unité, comprenant des actions et des bons de souscription. De plus, l'investisseur achètera 75% de la participation de St-Georges dans H2SX pour 1 500 000 $.
L'accord comprend un paiement initial non remboursable de 1 000 000 $ dans les 30 jours, suivi d'une due diligence. Après un examen réussi, les 6 500 000 $ restants seront payés. Cet accord libérera St-Georges de toute obligation de financement liée à H2SX, lui permettant de se concentrer sur ses activités principales. H2SX prévoit d'utiliser l'investissement pour accélérer le développement et le déploiement de sa technologie de production d'hydrogène propre et économique (ccH2™).
St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF) hat eine bedeutende Finanzierungsvereinbarung für ihre Tochtergesellschaft im Bereich Wasserstofftechnologie, H2SX Corp., bekannt gegeben. Ein privates kanadisches Unternehmen wird $7.500.000 durch eine Privatplatzierung von Einheiten zum Preis von $0,75 pro Einheit investieren, einschließlich Aktien und Warrants. Darüber hinaus wird der Investor 75% des Anteils von St-Georges an H2SX für $1.500.000 erwerben.
Der Deal umfasst eine anfängliche nicht rückzahlbare Zahlung von $1.000.000 innerhalb von 30 Tagen, gefolgt von einer Due Diligence. Nach erfolgreicher Prüfung wird der verbleibende Betrag von $6.500.000 ausgezahlt. Diese Vereinbarung befreit St-Georges von weiteren Finanzierungsverpflichtungen gegenüber H2SX, so dass sich das Unternehmen auf seine Hauptaktivitäten konzentrieren kann. H2SX plant, die Investition zu nutzen, um die Entwicklung und den Einsatz seiner kostengünstigen und sauberen Wasserstofftechnologie (ccH2™) zu beschleunigen.
- H2SX Corp secures $7,500,000 in financing through a private placement
- St-Georges to receive $1,500,000 for selling 75% of its H2SX holding
- Deal releases St-Georges from further financing obligations for H2SX
- Investment expected to accelerate H2SX's technology development and deployment
- St-Georges reduces its ownership stake in H2SX Corp from 100% to 25%
- Deal is subject to due diligence, which could potentially delay or cancel the transaction
MONTRÉAL, QC / ACCESSWIRE / August 1, 2024 / St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to announce that its hydrogen technology subsidiary, H2SX Corp, has secured a financing agreement with a private Canadian company under a Non-Disclosure Agreement. The Investor will subscribe
An initial non-refundable subscription tranche payment of
"(…) There is no doubt that this investment will allow us to significantly increase our activities but, above all, to demonstrate the undeniable advantages of our cheap and clean hydrogen (ccH2™) production technology. With this investment, we are more than delighted to be able to accelerate the pace and work closely with our Korean partners. Our new Canadian partners can support us in the deployment of our solution and, together, to create tangible value for stakeholders (…)," commented Sabin Boily, CEO of H2SX.
"(…) St-Georges firmly believes in the development potential of H2SX Corp's technology and is pleased to have a significant investor to lead this initiative. The effort and investment required to take H2SX to the next level are substantial and deserve the undivided attention of a strong leadership team. St-Georges will remain an important shareholder and stakeholder in H2SX Corp. and expects to benefit significantly from their growth in the coming years (…)," commented James Passin, Director of St-Georges Eco-Mining Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
"Neha Edah Tally"
Neha Edah Tally
Corporate Secretary of St-Georges Eco-Mining Corp.
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full-circle battery recycling. The Company explores for nickel & PGEs and other strategic and critical minerals on the Manicouagan and Julie Projects on Quebec's North Shore, for Niobium and Rare Earth Minerals on the Notre-Dame Project in the Lac St-Jean region and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges' common shares are listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and as SXOOF on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. www.otcmarkets.com
Visit the Company website at https://www.stgeorgesecomining.com
For all other inquiries: public@stgeorgesecomining.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
SOURCE: St-Georges Eco-Mining Corp.
View the original press release on accesswire.com
FAQ
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