EX-99.1 2 ea025398101ex99-1_global.htm RESPONSE FROM WILLIAM NANCE Exhibit 99.1 Mr. Nance denies that he has taken any acts or omitted to take any act constituting any of: (i) gross misconduct or gross negligence in the performance of Mr. Nance’s duties or responsibilities, which acts or omissions have or were reasonably expected to have an adverse effect on the Company Group (as defined in the Employment Agreement); (ii) a breach of Mr. Nance’s fiduciary duty or duty of loyalty to the Company and the Company Group; and/or (iii) actions or omissions that have damaged or were reasonably expected to materially damage the financial condition, business, or reputation of the Company and/or the members of the Company Group. Mr. Nance denies that he has taken any such acts, or omitted to take any act constituting the above, whether set forth in the Company’s Notice to him dated June 8, 2024, alluded to in the Form 8-K dated June 21, 2024, or otherwise. Mr. Nance further states that prior to the Company terminating his employment and removing him from the Board, he gave notice of his resignation for “Good Reason” as defined in the Employment Agreement on the grounds, among others, th…
Open exhibit ↗Current Report · Items 1.01, 5.02, 9.01 · 8-K
Global Gas Corporation
Entry into a Material Definitive Agreement · Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 1.01 Entry into a Material Definitive Agreement. On August 19, 2025, Global Gas Corporation (the “Company”) entered into a settlement agreement (the “Settlement Agreement”) by and among (i) the Company, Global Hydrogen Energy LLC (“Global Hydrogen”) and Dune Acquisition Holdings LLC (collectively referred to as the “Global Parties”) and (iii) William Bennet Nance, Jr., Sergio Martinez, Barbar…
Company context
Current securities
Historical securities (7)
DUNENASDAQ · EQUITY · Historical · closed Dec 21, 2023DUNEUNASDAQ · UNIT · Historical · closed Dec 21, 2023DUNEWNASDAQ · WARRANT · Historical · closed Dec 21, 2023HGASNASDAQ · EQUITY · Historical · closed Jun 24, 2024HGASOTC · EQUITY · Historical · closed Oct 19, 2026HGASWNASDAQ · WARRANT · Historical · closed Jun 24, 2024HGASWOTC · WARRANT · Historical · closed Oct 19, 2026
Disclosure sections
Item 1.01Item 1.01 - Entry into Material Agreement
Item 1.01
Entry into a Material
Definitive Agreement.
On
August 19, 2025, Global Gas Corporation (the “Company”) entered into a settlement agreement (the “Settlement Agreement”)
by and among (i) the Company, Global Hydrogen Energy LLC (“Global Hydrogen”) and Dune Acquisition Holdings LLC (collectively
referred to as the “Global Parties”) and (iii) William Bennet Nance, Jr., Sergio Martinez, Barbara Guay Martinez, and Pan
American Enterprises, Inc. (collectively referred to as the “Pan Am Parties”).
Pursuant
to the Settlement Agreement, among other things, William Nance agreed to forfeit 2,000,000 shares of the Company’s Class B common
stock, Sergio Martinez agreed to forfeit 350,000 shares of the Company’s Class B shares of common stock, and Barbara Guay Martinez
agreed to forfeit 350,000 shares of the Company’s Class B common stock.
Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In
a Current Report on Form 8-K filed by the Company on June 21, 2024, the Company announced that it
terminated William Nance for “Cause,” as defined in the Employment Agreement, dated as of May 14, 2023, as amended, between
Mr. Nance and Global Hydrogen Energy LLC (the “Employment Agreement”). Attached as Exhibit 99.1 to this Current Report on
Form 8-K is Mr. Nance’s response to that filing.
Item 9.01 Financial Statements and
Exhibits.
(d) Exhibits.
Exhibit Description of Exhibit
Number
─────────────────────────────────────────────────────────────────────────────────────────────
99.1 Response from William Nance
104 Cover page interactive data file (embedded within the Inline XBRL document).