Ann: Metgasco to acquire renewable hydrogen production technology, page-72

As a holder in Patriot, I'm pretty disappointed in this news. No offence to MEL holders, but I don't want MEL script and I will be voting against this - not that it will make much difference as the board seem to have the numbers. The purchase price for MEL is an absolute STEAL at $5.9m. My preference would have been an IPO, as hydrogen is a great thematic, plus there's upside and exposure with the carbon credits (see below). The numbers looked pretty good in the round I participated in noting that the business still required further capital to fund production of units, expand etc etc.

So looks like I'll have to start doing my DD on MEL. Hopefully it's a win win but on face value, MEL seem to be getting the better end of the deal.