HYSR - SunHydrogen puts $10M in Norway's TECO 2030

• SunHydrogen ( OTCPK:HYSR ) on Tuesday said it invested $10M in Norway-based TECO 2030 ASA ( OTCQX:TECFF ), and the two companies are expected to merge and eventually explore listing in the United States.
• SunHydrogen’s $10M investment consists of $7M direct investment for shares equal to 9.3% of TECO 2030, and a $3M convertible note at 8% interest that will be convertible into 6.1 million shares at 5.08 Norwegian Krone per share.
• Following the investment, SunHydrogen shall designate a director to serve on TECO 2030’s board of directors. As part of the investment, the two parties agree to pursue a potential business combination and an up-listing onto a U.S. stock exchange will be explored.

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