Buscando Resources Corp. will officially change its name to Element One Hydrogen and Critical Minerals Corp. as of October 27. The Canadian company, active in the mining sector and hydrogen-related technologies, will adopt the trading symbol “EONE” on the Canadian Securities Exchange (CSE). This move comes with updated listing identifiers, including a new CUSIP number (28619V105) and a new ISIN (CA28619V1058). Odyssey Trust Corporation remains the transfer agent for the company’s common shares.
Private placement structured in three tranches
At the same time, the company has completed a private placement of 6,878,832 units at a price of CAD$0.15 per unit, for total gross proceeds of C$1,031,825 ($752,400). Each unit consists of one common share and one-half of one warrant entitling the holder to purchase an additional share at CAD$0.30 within twelve months of closing. The fundraising was carried out under the LIFE (Listed Issuer Financing Exemption) regime.
The second tranche, closed on September 29, raised C$181,000 ($131,880) through the issuance of 1,206,666 units. The third tranche, finalised on October 23, raised C$393,275 ($286,720) through the issuance of 2,621,833 units. The company did not disclose the immediate use of the funds raised.
Broker fees and placement incentives
In connection with the second and third tranches, Element One Hydrogen and Critical Minerals Corp. paid total cash commissions of C$31,206 ($22,750) to brokers. Additionally, 208,040 warrants were issued to intermediaries. These warrants are exercisable at CAD$0.15 for one year from the respective closing dates.
The name change reflects the company’s strategic orientation toward hydrogen and critical minerals, although no operational details were provided regarding new projects or partnerships in these areas.
