Mergers & Acquisitions ·
Quality Industrial restructures $10M purchase price for Al Shola Gas stake with stock and cash payments due 2027
QINDQuality Industrial Corp.
Quality Industrial Corp. entered into a Share Exchange Agreement with Fusion Fuel Green PLC and three investors to restructure the $10,000,000 purchase price for its 51% stake in Al Shola Gas Distribution L.L.C. Under the agreement, Fusion Fuel will issue 500,000 Class A ordinary shares valued at $2,000,000 to investors Sanjeeb Safir (40%), Safir Ahammed (40%), and Mohamed Almheiri (20%). In exchange, Quality Industrial Corp. will issue common stock with an aggregate value of $2,000,000 to Fusion Fuel. The remaining purchase price consists of a $6,000,000 payment and a $980,000 cash payment due by December 31, 2027. The transaction is subject to Nasdaq listing approval for the Parent Shares. Quality Industrial Corp. operates in the industrial sector.