29 August 2024
“An investment by Fortescue is a testimony to the hard work and delivery performance of the HyTerra team, the diverse geological plays available within our Nemaha project leases and our global growth opportunities in the pipeline.” – Executive Director, Benjamin Mee
Many media outlets including Small Caps, Fuel Cell Works, Hydrogen insight, Market Open and Just Stocks have covered our announcement of a potential cornerstone investment to fund exploration at the Nemaha Project by Fortescue Future Industries Technologies (FFIT).
The investment will see FFIT subscribe to 644 million shares in HyTerra at $0.034 each for a total 39.8% interest, plus 322 million free-attaching options exercisable at $0.051, subject to shareholder approval.
Proceeds will be used to fully fund expanded exploration at prospects in several identified geological play areas and to expand HyTerra’s upcoming two-well drilling campaign to six wells.
The expanded program is expected to enhance HyTerra’s ability to unlock commercial opportunities in the US midwest region.
