Element One Hydrogen and Critical Minerals Corp. (CSE: EONE) (“Element one“or the”Company“) is pleased to announce that it has entered into a letter of intent (“LOI“) of Stone to H2, Inc. (“Stone to H2“), a New York company that owns patented technology for underground critical mineral extraction and geological hydrogen production.
The technology developed by Stone to H2 is aimed at the phased recovery of hydrogen and critical minerals from ultramafic rocks in the subsurface through fluid injection and solution mining. Stone to H2 patents also contemplate the storage of CO2 in the same geological environment in which the hydrogen and critical metals were produced. Producing hydrogen from ultramafic rocks in this way has the potential to have the lowest cost and carbon footprint of any hydrogen production, while capturing CO2 and co-producing critical metals.
Under the LOI, Element One has a exclusive option to acquire up to 100% of Stone’s issued and outstanding shares until H2 through a phased earn-in over three years, with the option to accelerate ownership at your discretion. Stone to H2 would operate as a subsidiary of Element One in any ownership acquisition.
Key Earning Requirements
- Year 1: Within one year of receiving CSE approval, Element One will issue 1,000,000 common shares and fund US$500,000 in technology development, earning a 10% stake.
- Year 2: Within 1 year of the anniversary of receiving CSE approval, Element One will issue an additional 2,000,000 shares and US$1,000,000 in financing to reach a 30% stake.
- Year 3: Within two years of the anniversary of receiving CSE approval, Element One will issue an additional 3,000,000 shares and US$2,000,000 in financing to reach a 60% stake.
- Further milestones: Element One can acquire up to 100% ownership by providing up to US$6,000,000 in additional cash or equity and US$10,000,000 in field trial financing as the technology reaches defined readiness levels and successful field testing.
During the earning period, Element One receives a exclusive license to Stone to H2’s technology for development, testing and commercialization. Intellectual property improvements created during this period will be jointly owned in proportion to Element One’s interest earned. This is an arm’s length transaction, executed on September 19, 2025, with no finder’s fees paid.
“This agreement positions Element One at the forefront of geological hydrogen innovation and technology and critical metal recovery through solution mining and strengthens our strategic relationship with leading academic partners,” said Timothy Johnson, Element One. “Stone to H2’s patented methods for underground hydrogen production align perfectly with our vision to commercialize next-generation hydrogen technologies.”
About Steen to H2
Stone to H2 is a New York-based technology company that owns intellectual property for enhanced hydrogen production and critical metal recovery in underground environments.
The parties have agreed to work on the implementation of a final option agreement within 90 days. The LOI provides Element One with a three-month exclusivity period and is otherwise non-binding, except for customary confidentiality and dispute resolution provisions.
Completion of the transaction is subject to the negotiation of definitive agreements, customary closing conditions and any required regulatory approvals.
About Element One Hydrogen and Critical Minerals Corp. (formerly Buscando Resources Corp.)
Element One Hydrogen and Critical Minerals Corp. (CSE: EONE) is a Canadian company focused on the exploration, development and commercialization of natural and geological hydrogen resources, as well as breakthrough hydrogen generation technologies.
For more information or to connect directly, please contact Tim Johnson at tjohnson@e1-h2.com or 250.668.3161.
On behalf of the Board of Directors:
Brad Kitchen, CEO,
Element One Hydrogen and Critical Minerals Corp.
e: bkitchen@e1-h2.com
c: 604.506.7555
This press release contains “forward-looking information” that is based on the company’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements regarding the completion of the Company’s Offering and exploration and development plans and the completion of the Acquisition as expected or at all. The words “will”, “expects”, “plans” or other similar words and expressions are intended to identify forward-looking information. Forward-looking statements in this press release include statements regarding the Transaction, the receipt of all necessary regulatory approvals for the Transaction, the satisfaction of the conditions precedent to the Transaction, the closing of the Offering, the intended use of proceeds from the Offering, the payment of finder’s fees and the issuance of securities in connection therewith and related matters. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this press release.
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