Corporate Update And Director Appointment

HyTerra Ltd (ASX: HYT) (HyTerra or the Company) is pleased to provide an update on the Company’s reinstatement process and the appointment of a Non-Executive Chairman.

Application for Reinstatement of Securities to Official Quotation

HyTerra is pleased to advise that the Company has received written confirmation from ASX that its securities will be reinstated to official quotation on ASX Limited on a date to be decided by ASX subject to the Company satisfying various conditions precedent typical for a transaction of this type. The Company is working to satisfy these conditions precedent as soon as possible and will inform the market of the date of reinstatement to official quotation on ASX as soon as it is available.

Completion of Neutralysis Acquisition

Upon receipt of the ASX confirmation, the Company has now issued the Consideration Securities to shareholders of Neutralysis Industries Pty Ltd (Neutralysis) and participants in the public offer and other offers. This formalises the acquisition of Neutralysis, which was approved by shareholders at the Company’s EGM on 10 October 2022.

Appointment of Russell Brimage as Chairman

The Company has appointed Russell Brimage to the role of Non-Executive Chairman. Russell has over 40 years’ experience in the upstream oil and gas industry having managed all facets of operations, from exploration through to production. He has served in the capacity of Operations Manager and CEO on several ASX listed entities since 1997 and is currently a Non-Executive Director of Lion Energy (ASX: LIO). He is a Director of Neutralysis (acquired by HyTerra) and has been involved in natural hydrogen development activities in the USA with the Company’s joint venture partner since 2020.

HyTerra will significantly benefit from his wealth of expertise during its upcoming natural hydrogen testing operations, as well as future exploration activities.

Commenting on his appointment, Mr Brimage said: “I am delighted to have the opportunity to bring my upstream energy experience to the development of natural hydrogen and I look forward to working with the HyTerra team and our JV partner in pioneering a new and exciting industry”.

The Company wishes to advise that Murray d’Almeida has resigned from the Board on completion of the Neutralysis transaction as previously advised by the Company. The Board thanks Murray for his service and wishes him well in his future ventures.

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