Core Insights - Ilustrato Pictures International Inc. (ILUS) has signed a Stock Purchase Agreement with Fusion Fuel Green PLC to allow Fusion Fuel to acquire a 69.36% stake in Quality Industrial Corp. (QIND) [1][2] - As a result of this transaction, ILUS will hold a 55.38% stake in Fusion Fuel on a fully diluted basis, pending shareholder approval for the conversion of preferred shares [1][2] - The acquisition is expected to enhance Fusion Fuel's position in the clean hydrogen sector and support QIND's growth plans, including expansion into European markets [2] Company Developments - ILUS CEO Nicolas Link expressed satisfaction with the completion of the transaction, highlighting the commitment of the QIND team over the past 18 months [3] - The acquisition positions QIND to advance its mergers and acquisitions strategy as a subsidiary of a NASDAQ-listed company [3] - ILUS aims to create a mini conglomerate through multiple acquisitions and uplistings, with plans for a shareholder meeting in early 2025 to outline future strategies [3]
ILUS Agrees to Swap Majority Stake in Quality Industrial Corp. for Future Majority Stake in Fusion Fuel Green (NASDAQ: HTOO)