Absolutely, Great deal for Traxys.
Gotta say, it's not a bad deal for magnis either.
Dilute their shareholding by around 0.07%. Essentially paying less than the onboarding Fee they gave to James Dack and not having to use the cash (of which there is plenty with the recent options conversions). Traxys now have an interest in the company rather than just getting the cash to do what they wished.
If this agreement provides the confidence required for Financers to stump up (whether this be via debt or equity), then $300,000 is definitely worth it, given the future revenues and profits associated with the project.
The downside for MNS is that the criteria is not super simple, and the agreement may lapse if not met...so there is definitely incentive there to put their heads down and get the actions done. And that is good to me as a shareholder, providing clarity on benchmarks and timelines. Better then self-guided timelines with no consequences if not met.
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- Ann: Binding Graphite Offtake Agreement Signed with Traxys
Absolutely, Great deal for Traxys.Gotta say, it's not a bad deal...
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