Business
Longhorn Exploration Corp. Receives Final TSX Venture Exchange Approval for Natural Hydrogen Lease Acquisition and Closes Private Placement
(TheNewswire) Vancouver, British Columbia – June 27, 2024 - TheNewswire : ...
About this update from Purewave Hydrogen Corp
[{"type":"text","content":"Longhorn Exploration Corp. Receives Final TSX Venture Exchange Approval for Natural Hydrogen Lease Acquisition and Closes Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia – June\n27, 2024 -\n \n \n TheNewswire\n \n \n :\n \n \n Longhorn Exploration Corp. (\n \n \n TSX-V: LEX\n \n \n ) (the\n“\n \n \n Company\n \n \n ”) is pleased to announce that, further to its April 18,\n2024 news release, it has received final approval from the TSX Venture\nExchange (the “\n \n \n Exchange\n \n \n ”) of its previously announced\narm’s length acquisition (the “\n \n \n Acquisition\n \n \n ”) of an\nexclusive right and option (the “\n \n \n Option\n \n \n ”) to acquire\nand assume PureWave Hydrogen Corp.’s (“\n \n \n PureWave Hydrogen\n \n \n ”)\nrights and obligations under the Lease Agreements (as defined below)\nand closed its non-brokered private placement consisting of 8,825,000\ncommon shares in the capital of the Company (the “\n \n \n Shares\n \n \n ”) priced at\nC$0.10 per Share for aggregate gross proceeds of C$882,500 (the\n“\n \n \n Private\nPlacement\n \n \n ” and together with the Acquisition,\nthe “\n \n \n Transaction\n \n \n ”).\n \n \n \n \n The Company intends to use the net proceeds raised from\nthe Private Placement for cash payments and minimum work expenditures\nrelated to the Acquisition and for general working capital purposes.\nIn connection with the Private Placement, the Company paid aggregate\ncash finder’s fees of C\n \n \n $\n \n \n 9,400\n \n \n .\n \n \n \n \n Anthony Zelen, CEO of the Company commented:\n \n \n \n \n “With the closing of this\ntransaction and the concurrent financing, we look forward to advancing\nthe Lily Rock Hydrogen Project. PureWave Hydrogen has a world class\nteam and we will be utilizing their technical knowledge and expertise\nas we carry out work on this project. We are thrilled to have Robert\nPrice and Bruce Nurse join our board of directors. We strongly believe\nthat the natural (white) hydrogen sector is poised for growth and new\ndiscoveries. We encourage everyone to learn about this exciting new\nclean energy sector and the vast potential it has.”\n \n \n \n \n The Transaction\n \n...