St-Georges Eco-Mining Corp. Announces Major Investment in H2SX Corp

St-Georges Eco-Mining Corp. has announced that its hydrogen technology subsidiary, H2SX Corp, has secured a $7.5 million financing agreement with a private Canadian company. Under the terms of the Non-Disclosure Agreement, the investor will partake in a private placement of units priced at $0.75 each. Each unit consists of one common share in H2SX Corp. and a share purchase warrant.

The first tranche of $1 million will be non-refundable and is expected within 30 days. Subsequently, an engineering and technical due diligence review, including a partner visit to South Korea, will be conducted. Upon successful completion, the remaining $6.5 million will be disbursed.

Moreover, the investor will acquire 6,757,500 common shares from St-Georges for $1.5 million, representing 75% of St-Georges holding in H2SX. This deal will release St-Georges from further financial obligations towards H2SX Corp.

The investment will accelerate H2SX's development of its clean hydrogen production technology and strengthen partnerships in South Korea. St-Georges will reinvest the proceeds to advance its core projects.