Ilustrato Pictures International Enters Stock Purchase Agreement with Fusion Fuel Green

Ilustrato Pictures International, Inc. (OTCMKTS: ILUS), a Nevada corporation, announced on November 18, 2024, that it has entered into a Stock Purchase Agreement with Fusion Fuel Green PLC, an Irish public limited company. Under this agreement, Ilustrato Pictures International will transfer approximately 54.79% of the voting stock of Quality Industrial Corp. (QIND) to Fusion Fuel.

The Stock Purchase Agreement entails Ilustrato Pictures International transferring a total of 57,669,078 shares of common stock and 20,000 Series B stock in QIND to Fusion Fuel. In return, Fusion Fuel will issue 35,971,554 shares to Ilustrato Pictures International on a fully diluted basis, comprising a blend of ordinary and preferred shares that are subject to adjustment. The preferred shares are set to convert into ordinary shares pending shareholder approval and Nasdaq listing clearance, with the transaction contingent upon standard closing conditions, including regulatory approvals.

Post-closing, the Parties have agreed upon various covenants, such as activities connected to shareholder meetings and financing arrangements. The agreement includes customary representations, warranties, and indemnification provisions, along with unwinding and termination rights.

This announcement was accompanied by a press release issued on November 19, 2024. The Company furnished this press release to disclose its entry into the Purchase Agreement with Fusion Fuel. The Company’s management took the opportunity to express their enthusiasm for successfully completing this transaction. CEO Nicolas Link extended appreciation to the management teams involved and highlighted the commitments and sacrifices made by the QIND team in achieving this milestone.

The strategic move to swap a majority stake in Quality Industrial Corp. for a future majority stake in Fusion Fuel aligns with Ilustrato Pictures International’s goal of acquiring and developing businesses in the public safety and industrial sectors. Fusion Fuel, known for its innovative green hydrogen solutions, is gearing towards emphasizing hydrogen and energy solutions, alongside engineering and advisory services. The acquisition positions Fusion Fuel to meet current market demands and pursue growth in the clean hydrogen sector.

The announcement underscores Ilustrato Pictures International’s strategic vision to create a conglomerate of significant global influence through acquisitions, incubation, and uplisting multiple companies. The transaction foretells a promising future for both companies involved and signifies a significant step towards their respective growth objectives.

For more information on Ilustrato Pictures International, interested parties can visit their website or follow their communication channels for updates regarding their upcoming shareholder meeting and future plans.

The content of this news article contains forward-looking statements, and readers are advised to consider the inherent uncertainties and risks involved. Investors and stakeholders are encouraged to consult the Company’s filings with the U.S. Securities and Exchange Commission for a more comprehensive understanding of these statements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ilustrato Pictures International’s 8K filing here.

Ilustrato Pictures International Company Profile

Ilustrato Pictures International Inc, through its subsidiaries, operates in the public safety, technology, engineering, and manufacturing sectors in New York, London, and Dubai. The company's Emergency & Response division designs, manufactures, and distributes specialty equipment, vehicles, and related parts and services, including firefighting equipment, firefighting vehicles, and firefighting vehicle superstructures.