Quality Industrial restructures Al Shola Gas purchase payment obligations
QIND•QIND•QIND•QIND•Quality Industrial restructured its $10 million purchase of a 51% stake in Al Shola Gas, eliminating financing commitments. The revised terms include a share exchange for $2 million of QIND common stock and $6.98 million in remaining payments, including $980,000 in cash, due by December 31, 2027, if the share exchange is settled.
Fusion Fuel will issue 500,000 Class A Ordinary Shares to the sellers, subject to closing conditions, in exchange for $2 million of QIND common stock. If the share exchange is not completed by December 31, 2026, QIND must deliver $2 million in cash or exchange-listed securities within 10 calendar days.
The revised terms provide for quarterly dividends beginning in the third quarter of 2026, subject to board discretion. Quality Industrial also has an option to acquire the remaining 49% by March 27, 2027.
