The purpose of the MOU is to afford Uranium One with a 90-day exclusivity period (subject to certain exceptions) to:
• complete due diligence on the Company and its Arcadia Lithium Mine; and subject to satisfactory due diligence, negotiate:
• equity investment terms in Prospect or its subsidiaries; and
• off-take terms for at least 51% of the Company’s future lithium production.
If this deal is rejected or delayed it will be catastrophic for the share price, expect some good or bad news this week or the next one about this deal with U1, fingers crossed fellows
Ann: Prospect signs MOU with Uranium One, page-15
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