Buscando to change name to Element One Hydrogen

Executive Summary

• Buscando Resources Corp. is changing its name to Element One Hydrogen Ltd. to reflect a strategic pivot toward becoming a natural hydrogen explorer and developer in North America.
• The company has appointed Brad Kitchen as the new Chief Executive Officer, succeeding Kyler Hardy, who remains as non-executive chairman.
• The company closed the first tranche of a private placement, raising $457,550 through the issuance of 3,050,333 units, with additional financing expected to close prior to month-end.

Key Details

• Name Change: Buscando Resources Corp. is rebranding as Element One Hydrogen Ltd.
• Trading Details: The name change is subject to Canadian Securities Exchange (CSE) approval and is anticipated to take effect prior to month-end. The new trading symbol will be EONE.
• Security Identification: Common shares will trade under a new CUSIP/ISIN (28619V105/CA28619V1058). No transmittal process is required for existing shareholders.
• Management Changes:
  • Brad Kitchen appointed as Chief Executive Officer.
  • Kyler Hardy transitions from CEO to non-executive chairman of the board.
• Financing Details (First Tranche):
  • Units Issued: 3,050,333 units.
  • Price: 15 cents per unit.
  • Gross Proceeds: $457,550.
  • Structure: Each unit consists of one common share and one-half of one common share purchase warrant.
  • Warrant Terms: Each full warrant entitles the holder to acquire one additional share at an exercise price of 30 cents per share for a period of 12 months from the closing date.
  • Finder’s Fees: The company paid $7,200 in cash and issued 48,000 finder warrants.
  • Finder Warrant Terms: Exercisable at 15 cents per warrant share for a period of 12 months from the closing date.
• Future Financing: The company expects to close the balance of the financing prior to month-end.
• Strategic Vision: The company aims to launch a hydrogen development platform, focusing on natural hydrogen exploration, extraction technologies, and investor education regarding the emerging natural hydrogen industry.

Notable Quotes

• "This announcement marks the start of an information marketing plan that the company will be implementing over the next few weeks as we finalize the components to launch our hydrogen development platform. The company's vision is to become an important entrant as a natural hydrogen explorer and developer in North America." — Kyler Hardy, Chairman
• "Element One has the opportunity to not only create an impact in the natural hydrogen industry by building a strong company but, because natural hydrogen extraction is a new industry, we will be able to help inform investors about the value potential created by this new industry... We will have the projects that fit natural hydrogen parameters, new natural hydrogen extraction technologies, and proven management and geological teams." — Brad Kitchen, CEO