- QNB Metals stock (CSE:TIM.X) is up by 400 per cent after Thursday’s agreement with ReSolve Energy, a private company specializing in biofuel, to jointly explore for and produce white hydrogen in Ontario and Quebec
- White hydrogen is found naturally underground, representing a potentially more efficient alternative to standard high-cost, energy-intensive production methods
- QNB Metals is an exploration and development-stage company focused on leveraging its assets for mining, energy storage and carbon capture and sequestration
- QNB Metals stock has added 166.67 per cent year-over-year and is flat since 2021
QNB Metals stock (CSE:TIM.X) is up by 400 per cent after Thursday’s agreement with ReSolve Energy to form a joint subsidiary to explore for and produce white hydrogen in Ontario and Quebec.
While most hydrogen produced today relies on expensive and energy-intensive industrial methods, white hydrogen’s natural formation within Earth’s crust incentivizes efficient extraction to provide a new source of clean energy.
ReSolve, a private company specializing in biofuel, will transfer all rights to technologies for the exploration and production of white hydrogen to the new subsidiary.
QNB will be entitled to 49.09 per cent of the joint venture in exchange for C$375,000 in common shares and a C$750,000 investment in research and development and hydrogen exploration over the next 12 months. QNB will also have the option to acquire all the issued and outstanding common shares of ReSolve for C$4.5 million in shares plus milestone payments over a five-year period.
According to Thursday’s news release, the companies expect to hash out a definitive agreement by October, contingent on QNB providing an NI 43-101 technical report for its Salt project in Nova Scotia and the completion of a minimum C$500,000 private placement.
About QNB Metals
QNB Metals is an exploration and development-stage company focused on leveraging its assets for mining, energy storage and carbon capture and sequestration.
QNB Metals stock (CSE:TIM.X) is up by 400 per cent, trading at C$0.15 per share as of 11:26 am ET. The stock has added 166.67 per cent year-over-year and is flat since 2021.
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(Top photo of a hydrogen-powered vehicle at a refueling station: Adobe Stock)
