Record Resources Inc (REC) Share Price

TSXV: REC.......Record Resources Receives Approval for the Acquisition of the Beauchamp Natural Hydrogen Property

By
Fuel Cells Works

February 20, 2025 at 11:12 AM EDT



Calgary, Alberta-- Record Resources Inc. (TSXV: REC) announces that it has received conditional approval from the TSX Venture Exchange for the acquisition of the Beauchamp natural hydrogen Property (see November 21 and December 18, 2024 news releases). The company considers this transaction closed.

As previously reported, Beauchamp is located on a pivotal western geological extension in Ontario, building upon Quebec Innovative Materials Corp. (QIMC)'s landmark Quebec hydrogen discovery along the western geological regional trend. This strategic acquisition solidifies Record Resources' position as the Ontario leader in renewable hydrogen exploration and strengthens its commitment to advancing sustainable energy solutions.

The Beauchamp Property consists of 300 claims and is situated on a broad northwesterly-trending Lake Timiskaming Rift zone, split by the Cross Lake Fault and extending northward to touch the western margin of the Lake Timiskaming Westshore fault. The geo-scientific disclosure contained herein is not necessarily indicative of the mineralization on the property.

The arm's-length agreement with a private exploration company provides Record with 100% ownership of the hydrogen claims in exchange for 12,500,000 shares issued at a deemed value of $0.03 per share and a cash consideration of $39,000. The vendor will retain a 2% gross revenue royalty, with the option for Record Resources to repurchase half of the royalty for $2 million.

Exploration activities are expected to commence this year including advanced geophysical analysis and field studies to further evaluate the potential for hydrogen generation and migration within the extension.

In other news, Record wishes to report that an option agreement on a gold exploration property in Djibouti, Africa, owned by a private equity fund, has been cancelled (for details on the original deal please see August 28 and 30, 2023 new releases).

About Record Resources Inc.
Record Resources is a Canadian exploration company (TSXV: REC). The company is focused on acquiring and developing its hydrogen and gold exploration properties. Record Resources is operated by a highly experienced and well connected management team which has access to extraordinary exploration opportunities and technical expertise. The company is also backed by an accomplished group of capital markets professionals.

Qualified Person:
Edward Procyshyn, P.Geo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

Record Resources Inc. reaches new 52-Week High

Shares of Record Resources Inc. (TSXV:REC) hit a new 52-Week High today, currently trading at $0.065 on volume of 314,398 shares.
In the past 52 weeks, Record Resources Inc. has traded between a low of $0.005 and a high of $0.06 and is now trading 1200% above that low.

Record Resources Inc. shares have a 50-day moving average of $0.0309 and a 200-day moving average of $0.024575.

About Record Resources Inc.: Record Resources Inc formerly Silk Road Energy Inc is engaged in the exploration, development, and production of petroleum and natural gas assets in Alberta. The company conducts oil and gas production activities through jointly controlled operations.


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Record Resources Inc V.REC Price rises +37.50% since its previous close with a trade of $0.055 02/18/2025

NEWS: TSXV: REC.....Record Acquires Option on Key Temiskaming Hydrogen Property and Strengthens Strategic Collaboration with QIMC
Calgary, Alberta--(Newsfile Corp. - January 14, 2025) - Record Resources Inc. (TSXV: REC) is pleased to announce it has entered into an option agreement to acquire a key property in the Temiskaming hydrogen camp, directly adjacent to Quebec Innovative Materials Corporation (QIMC)'s significant hydrogen discovery. This strategic acquisition positions Record as a prominent player in hydrogen exploration within Ontario's rapidly expanding renewable hydrogen sector.

The Lorrain-Bucke claim blocks acquired by Record are underlain by Huronian Group sedimentary and volcanic formations that unconformably overlie Archean metavolcanic and metasedimentary units of the Superior Province rocks. The Huronian Supergoup, in turn, is overlain by a thick succession of Ordovician limestone, dolostone and lesser amount of interbedded sandstone and local conglomerate. This is a geological setup associated with significant natural hydrogen resource potential.

These blocks are strategically located, between major rift faults in the Lake Temiskaming Graben structure, a tectonic feature recognized for its potential to host deep mantle-derived volatile-rich sources, including hydrogen. (See figure 1).

Furthermore, the claims' potential is further enhanced by the presence of ultramafic rocks exposed on the northern and eastern portions of the Rift basin in neighboring Quebec. These units exhibit a distinctive magnetic response that extends into Ontario, which suggests the presence of basement ultramafic rocks at the base of the Rift basin. The information is not necessarily indicative of the mineralization on the property.

Additionally, a prominent gravity low coincides with a large granitic intrusion mapped in the western Lorrain Township (see QIMC press release December 5, 2024). This gravity low anomaly is shown to extend westward into Lake Temiskaming and potentially marks the location of thick Paleozoic cover, which is a positive indication for deeper natural hydrogen resource potential.

This option and collaborative venture also strengthens Record's strategic relationship with QIMC, a leader in hydrogen exploration. QIMC will join Record as a partner, bringing its advanced methodologies and expertise to the relationship. This positions both companies to capitalize on the region's unique geological features and accelerate hydrogen exploration and extraction in the Temiskaming hydrogen camp.

Record Resources, as the optionee will issue an aggregate of 9,000,000 common shares to a group of arm's length optionors, namely Gravel Ridge Resources Ltd., 1544230 Ontario Inc., 0761585 BC Ltd. and QIMC and make a cash payment of $90,000 payable in four instalments over a four-year period from closing (the "Option Agreement"). The optionee can close on the acquisition at any time by paying to the optionor the balance of the cash payments due. A 2% Gross Revenue Royalty (GRR) shall be granted from the sale of hydrogen or any other mineral product from the property. The optionor will own half of the two percent royalty and the other half will be owned by the other vendors. Record may purchase from the optionor, at its sole option, 50% of the GRR at any time for $2,000,000. The option agreement was signed on December 12, 2025. No finders fees were paid. The Option Agreement remains subject to the approval of the TSX Venture Exchange.

John Karagiannidis, CEO and Director of QIMC, stated: "We are thrilled to expand our partnership with Record Resources and contribute our proven hydrogen exploration methodologies and know-how to the Temiskaming hydrogen camp. This collaboration, alongside our recent agreement with DMED's extraction technology, underscores our shared commitment to unlocking the full potential of natural hydrogen resources. Together, we are laying the groundwork for Ontario to emerge alongside Quebec as cornerstones of the Canadian and North American hydrogen economy."

Michael Judson, CEO of Record Resources, added: "The option to acquire a key property is a transformative step for Record as we solidify our presence in the Temiskaming hydrogen camp. Our strengthened relationship with QIMC brings invaluable expertise and innovation to our operations. Together, we are committed to advancing hydrogen exploration and contributing to a sustainable energy future."

Please visit the company's website at www.recordgoldcorp.com for detailed location and geophysical maps related to the Lorrain-Bucke Property.

About Record Resources Inc.
Record Resources (TSXV: REC) is a Canadian exploration company. The company is focused on acquiring and developing its hydrogen and gold exploration properties. Record Resources is operated by a highly experienced and well connected management team which has access to extraordinary exploration opportunities and technical expertise. The company is also backed by an accomplished group of capital markets professionals.

Qualified Person:
Edward Procyshyn, P.Geo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

For more information please contact:
Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. +1-514-865-5496

Website: www.recordgoldcorp.com

V.REC | 2 hours ago
VANCOUVER, BC, Dec. 19, 2024 /CNW/ - Trading resumes in:

Company: Record Resources Inc.

TSX-Venture Symbol: REC

All Issues: Yes

Resumption (ET): 12:00

Record Resources Updates Status of Beauchamp Hydrogen Property Acquisition
V.REC | 1 day ago
Calgary, Alberta--(Newsfile Corp. - December 18, 2024) - Record Resources Inc. (TSXV: REC) announces that it is actively working with the TSX Venture Exchange to address supplementary information requests regarding the final agreement. This collaborative process underscores Record's commitment to transparency and its focus on maintaining the highest standards of corporate governance.

As initially disclosed on November 21, 2024, Record Resources entered into an arm's-length agreement with a private exploration company. The proposed terms provide Record with 100% ownership of the hydrogen claims in exchange for 12,500,000 shares issued at a price of $0.03 per share and a cash consideration of $39,000. The vendor will retain a 2% gross revenue royalty, with the option for Record Resources to repurchase half of the royalty for $2 million.

Record Resources thanks its stakeholders for their continued support and confidence as the company advances its initiatives.

For more information please contact:
Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. +1-514-865-5496
Website: www.recordgoldcorp.com

This could be good

VANCOUVER, BC, Dec. 12, 2024 /CNW/ - The following issues have been halted by CIRO

Company: Record Resources Inc.

TSX-Venture Symbol: REC

All Issues: Yes

Reason: At the request of the Listing Exchange

Halt Time (ET): 4:45 pm

NEWS: TSXV: REC...Record Resources Increases Size of Total Financing and Files Amended LIFE Offering Document
November 28, 2024
Calgary, Alberta--(Newsfile Corp. - November 28, 2024) - Record Resources Inc. (TSXV: REC) reports that the company is increasing the total size of its financing it is presently undertaking via a LIFE offering by adding a separate private placement.

Under the terms of the newly announced private placement, the company is offering up to 5,000,000 Units. Each Unit consists of a $0.03 common share and one-half of one share purchase warrant exercisable at a price of $0.05 per share for a period of 36 months. The private placement is expected to raise gross proceeds of up to $150,000.

As previously reported in its November 21, 2024 news release, the company is raising $330,000 through a LIFE Offering. Combined with the new private placement, the company will raise up to an aggregate of $480,00 through the issuance of 16,000,000 units assuming the completion of the LIFE Offering and the private placement in the maximum amount of $150,000.

The company intends to use the net proceeds from the Offering for exploration and evaluation of the company's properties, including the newly acquired Beauchamp Property, and for general working capital.

The company also reports that it has filed today an amended and restated offering document regarding its LIFE Offering. The original closing date of on or around November 29, 2024 has been extended to become on or around December 30, 2024. On November 8, 2024, Record entered into a loan agreement, which was amended and restated as of November 27, 2024, with Trading Bay Oil & Gas LLC, Anchorage, Alaska. Trading Bay agreed to provide the company with a loan facility in the amount of C$550,000. As yet, Record has not drawn down on this facility. Trading Bay is owned Paul Craig, a director and shareholder of Record Resources Inc. Any drawdown under the loan agreement would be considered a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The related party transaction will however be exempt from the formal valuation and minority approval requirements pursuant to the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25% of Record's market capitalization.

The amended and restated offering document related to the Offering can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at: www.recordgoldcorp.com. Prospective investors should read this amended and restated offering document before making an investment decision.

In connection with the new private placement, the company may pay finder's fees and issue finder shares and finder warrants to EMD Financial Inc. as well as any other registrants participating in the Offering, consisting of: (i) cash finder's fees of up to 8% of the gross proceeds of the private placement; (ii) finder shares in an amount equal to up to 4% of the number of Units issued pursuant to the private placement; and (iii) finder warrants in an amount equal to up to 4% of the number of Units issued pursuant to the private placement, exercisable at a price of $0.05 per common share for a period of 36 months following the closing of the private placement.

Both the LIFE Offering and the Private Placement, are expected to close on or before December 30, 2024, however the company may close the LIFE Offering beforehand. Completion of the Offering is subject to certain conditions including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

For more information please contact:
Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. +1-514-865-5496
Website: www.recordgoldcorp.com

With record numbers reviewing this board I find it is the only way to get info

Record Resources Inc V.REC
Record Resources Inc. is a Canadian lithium and gold exploration company. The Company focuses on acquiring and developing its lithium, uranium and gold properties. Its properties include Whitemud River and Rope Lake Lithium Properties; Doran Lithium Property; Grenfell Gold Exploration Property; 4 Nations Gold Exploration Property; Kenogami East Gold Exploration Property, and Amikougami + Otto Gold Exploration Property. The Whitemud River lithium prospect consists of 111 claims and 200 km east of Red Lake and approximately 125 km northeast of Sioux Lookout. It also has an option agreement to acquire a 100 % interest in the Doran Lithium Property, located 60 km east of the Root Lake Lithium Project. Its Grenfell Gold Exploration Property is in Grenfell Township. It has also optioned a uranium property in western Ontario consisting of 10 claims. It also has an option agreement to acquire Malborne property, La Sarre Copper Property, and 27 mineral claims in the Timiskaming area of Ontario.
$0.030

V.REC...Record Resources Acquires Potential Ontario Western Extension of QIMC Hydrogen Discovery and Announces LIFE Offering of Units
V.REC | 2 hours ago
Calgary, Alberta--(Newsfile Corp. - November 21, 2024) - Record Resources Inc. (TSXV: REC) is pleased to announce the acquisition of a pivotal western geological extension in Ontario, building upon Quebec Innovative Materials Corp. (QIMC)'s landmark Quebec hydrogen discovery along the western geological regional trend. This strategic acquisition solidifies Record Resources' position as the Ontario leader in renewable hydrogen exploration and strengthens its commitment to advancing sustainable energy solutions.

"This acquisition marks an exciting chapter for Record Resources as we expand our portfolio into natural renewable hydrogen exploration," said Michael Judson, CEO of Record Resources. "The unique geological setting, combined with compelling geophysical data, highlights the potential of this extension to unlock new sources of clean energy and natural renewable hydrogen. We are eager to advance exploration efforts to better understand and develop this."

What follows is from a report by VP Exploration, Edward Procyshyn:

"The Beauchamp Property consists of 300 claims and is situated on a broad northwesterly-trending Lake Timiskaming Rift zone, split by the Cross Lake Fault and extending northward to touch the western margin of the Lake Timiskaming Westshore fault."

"Exploration for hydrogen-bearing gas pools have yet to be undertaken on the Beauchamp property. Temiskaming rift faults and earlier crustal faults controlling the emplacement of Nipissing intrusions certainly extend deep into the crust below cover Proterozoic and Paleozoic sediments to tap hydrologic fluid flow in the Archean basement rocks and even magma pools in the upper mantle - conditions very favourable for generating hydrogen gas."

The presence of broad shallow-dipping low conductive areas at deeper levels may reflect more a highly conducting sedimentary layer but these responses may also indicate a layer containing a trapped hydorgenic gas pool."

"Both faults extend to the southeast. The Lake Timiskaming Westshore (LTW) fault enters Lake Timiskaming at New Liskeard and runs along the west shore of Lake Timiskaming; the Cross lake fault parallels the LTW fault to cut the northwest corner of Record Resources Paradis Bay property and extends into Lake Timiskaming."

"The Beauchamp property is located at the northeast extent of the Cobalt Embayment, a large craton sedimentary basin consisting of shallowly dipping sedimentary rocks intruded by mafic Nipissing diabase sills and dikes and locally by felsic to intermediate granite, granodiorite and diorite."

"The depth from surface to the unconformable basement contact based on geophysical data may be up to 1000 metres below surface. The basement rocks are exposed at the northern margin property and locally occur within the basin as uplifted inlier along cross cutting faults. "

"In 2018 Geotech Ltd. undertook on behalf of Meteoric Resources a detailed VTEM Plus and horizontal magnetic Gradiometer geophysical survey of the Beauchamp Property (Project GL180230, OGS assessment report 3649)."

"The processed VTEM survey results were presented in terms of calculated parameters that estimate electric conductance of the underlying geological units and the presence of highly conductive zones."

"Combined with magnetic horizontal gradient maps it was possible to estimate the depth of the conductive zones and to identify their geometry, orientation, size and the estimated burial depths of the conductors. The preliminary calculation shown on the maps have interesting features that can only partially be correlated with known geological observation."

"The short north-south induced magnetic field parallel topographic features have been recognized locally as faults. These short linear features, however, could also indicate hydrologic channels that would produce the same electromagnetic response. "

"The Beauchamp transaction follows on the heels of the company's first acquisition in the hydrogen space. On October 29, 2023, Record reported that it had acquired a 100 percent interest in 27 mineral claims in Ontario. The claims, known as the Paradis Bay claims, are located five kilometres west of the town of Ville Marie, Quebec, near the claims held by QIMC and border the town of Paradis Bay, Ontario."

Exploration activities are expected to commence in 2025, including advanced geophysical analysis and field studies to further evaluate the potential for hydrogen generation and migration within the extension.

Please visit our company website for location and geophysical maps relating to the Beauchamp Property: www.recordgoldcorp.com.

Contemporaneous with the Beauchamp transaction, Record Resources is undertaking a non-brokered private placement of up to 11,000,000 units (the "Units") at a price of $0.03 per Unit for gross proceeds of up to $330,000 (the "Offering"). The Offering has been structured to take advantage of the listed issuer financing exemption (LIFE) whereby securities of the Company issued pursuant to the Offering will be freely tradeable equity securities not subject to any hold period (see below).

Each Unit consists of one common share and one half-share purchase warrant of the company. Each whole warrant is exercisable at a price of $0.05 per share for a period of 36 months following the closing of the Offering. The Company intends to use the net proceeds from the Offering for exploration and evaluation of the Company's properties, including the newly acquired Beauchamp Property, and for general working capital.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Offering is being made to purchasers resident in each of the Provinces of Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Exemption"). The securities offered under the Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document (the "Offering Document") related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at: www.recordgoldcorp.com. Prospective investors should read this Offering Document before making an investment decision.

In connection with the Offering, the Company may pay finder's fees and issue finder shares and finder warrants to EMD Financial Inc. as well as any other registrants participating in the Offering, consisting of: (i) cash finder's fees of up to 8% of the gross proceeds of the Offering; (ii) finder shares in an amount equal to up to 4% of the number of Units issued pursuant to the Offering; and (iii) finder warrants in an amount equal to up to 4% of the number of Units issued pursuant to the Offering, exercisable at a price of $0.05 per common share for a period of 36 months following the closing of the Offering.

The Offering is scheduled to close on or about November 22, 2024. Completion of the Offering is subject to certain conditions including the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.

The company reports that, following this acquisition and financing, it will have 99,925,382 shares outstanding. Both, the financing and acquisition transaction are subject to TSX Venture Exchange, regulatory and board approvals.

The Beauchamp claims are being acquired in an arms-length transaction from a private exploration company. In return for a 100 percent interest in the hydrogen claims, the vendor will receive $39,000 in cash and 12,500,000 shares of Record Resources at an issue price of $0.03 per share. The vendor holds a two percent gross revenue royalty agreement on the property. Half of the gross revenue royalty can be purchased by Record Resources by paying $2 million.

The company's shares are presently trading at $0.03 per share giving them a present aggregate value of $375,000. No finder's fee was paid in this property acquisition transaction. The agreement was signed on November 19, 2024.

Qualified Person:
Edward Procyshyn, P.Geo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

For more information please contact:

Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. +1-514-865-5496
Website: www.recordgoldcorp.com