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Global Gas Corp (NASDAQ:HGAS), a micro-cap company with a market value of $1.03 million, reported Tuesday that it has entered into a settlement agreement involving several parties, according to a press release statement and a filing with the Securities and Exchange Commission. The stock has shown recent momentum with a 9.9% gain over the past week, though it remains down 61% over the last six months, according to InvestingPro data.
The agreement, dated Monday, includes Global Gas Corp, Global Hydrogen Energy LLC, Dune Acquisition Holdings LLC, and a group referred to as the Pan Am Parties, which consists of William Bennet Nance, Jr., Sergio Martinez, Barbara Guay Martinez, and Pan American Enterprises, Inc.
As part of the settlement, William Nance agreed to forfeit 2,000,000 shares of Global Gas Corp’s Class B common stock. Sergio Martinez and Barbara Guay Martinez each agreed to forfeit 350,000 shares of the same class.
The filing also references a prior event from June 21, 2024, when Global Gas Corp announced the termination of William Nance for cause under the terms of his employment agreement with Global Hydrogen Energy LLC. The current 8-K includes Mr. Nance’s response to that earlier filing as an exhibit.
Global Gas Corp’s Class A common stock is listed under the ticker NASDAQ:HGAS, and its warrants are traded as NASDAQ:HGASW.
This information is based on a press release statement and the company’s recent SEC filing.
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