Business
Hot Rocks Investments plc: Investment in Mend...
Hot Rocks Investments plc: Investment in Mend....
About this update from Hot Rocks Investments Plc
[{"type":"text","content":"\n \n \n \n\n\t\n\n\n\n\n\n\n\n\n\n\n\nHot Rocks Investments plc (HRIP)\n\n\n\n\n\n\nHot Rocks Investments plc: Investment in Mendell Helium plc 23-Jun-2025 / 08:12 GMT/BST\n\n\n23 June 2025\n\nHOT ROCKS INVESTMENTS PLC\n\n(the \"Company\")\n\nInvestment in Mendell Helium plc ordinary shares\n\nMendell Helium Plc\n\nThe Directors of the Company are pleased to announce that Hot Rocks Investments plc has subscribed for 7,500,000 Mendell Helium plc (“Mendell”) new ordinary shares at 2p per share in their subscription announced today raising £515,000.\n\nHot Rocks Investment plc also received 7,500,000 warrants over new ordinary shares in Mendell, 3,750,000 of which are exercisable at 4p per share and 3,750,000 exercisable at 6p per share. The warrants respectively incorporate accelerated exercise provisions in the event that the ordinary shares in Mendell trade above 10p and 15p.\n\nMendell’s Bitcoin Treasury Policy\n\nOn 1 April 2025, Mendell Helium announced that it was working on a feasibility study to use excess methane produced at either M3 Helium's Rost 1-26 well (\"Rost\") well in Fort Dodge, Kansas or future offset wells in the same area to provide energy for a cryptocurrency/Bitcoin mining operation. A significant advantage of Fort Dodge is the network of the main roads and communications across the area. The analysis carried out by Mendell Helium has brought other areas to its attention and, to date, the Company has also examined opportunities for Bitcoin mining in Texas and Nebraska, albeit still at an early stage. \n\n \n\nA logical extension of this work, and particularly being mindful of M3 Helium's forthcoming production plans at Rost which, if successful, are expected to be highly cash generative, is to implement a Bitcoin treasury management policy to support the operating activities of M3 Helium.\n\n \n\nMendell has been engaging with consultants and specialist cryptocurrency advisers to formulate a Bitcoin treasury management policy to:\n\n\n· Accumulate Bitcoin through spot markets, possibly alongside potential mining initiatives through M3 Helium\n\n\n\n· Hold Bitcoin as a long-term treasury reserve asset\n\n\n\n· Support M3 Helium's operations, and specific...