Strategic Acquisition Sending Shares of Junior Miner Higher

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Thursday, November 21, 2024

This firm is turning up the volume on finding natural resources in Canada, and they just announced a strategic acquisition that is sending shares higher.

Record Resources Inc. (TSXV: REC) announced in a press release today the acquisition of a pivotal western geological extension in Ontario, building upon Quebec Innovative Materials Corp. (QIMC)'s landmark Quebec hydrogen discovery along the western geological regional trend. Through this strategic acquisition Record Resources' position as the Ontario leader in renewable hydrogen exploration is solidified, as it strengthens the company’s commitment to advancing sustainable energy solutions. The Beauchamp Property consists of 300 claims and is situated on a broad northwesterly-trending Lake Timiskaming Rift zone, split by the Cross Lake Fault and extending northward to touch the western margin of the Lake Timiskaming Westshore fault.

According to Michael Judson, CEO of Record Resources, “This acquisition marks an exciting chapter for Record Resources as we expand our portfolio into natural renewable hydrogen exploration. The unique geological setting, combined with compelling geophysical data, highlights the potential of this extension to unlock new sources of clean energy and natural renewable hydrogen. We are eager to advance exploration efforts to better understand and develop this."

Record Resources is also undertaking a non-brokered private placement of up to 11,000,000 units at a price of $0.03 per Unit for gross proceeds of up to $330,000. Shares were trading higher in morning trading.

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