This is from the latest prospectus from cgb. Aeb is mentioned 37 times in it.
Affinity Energy AgreementThe Company, MCL and Affinity Energy and Health Limited (AEB) entered into a licensing heads of agreement in or around December 2017 pursuant to which AEB has been granted a worldwide, exclusive and perpetual licence in respect of certain MCL cultivars (and all future cultivators) for use in veterinary-based applications. AEB has provided MCL with an option to acquire up to a 19.9% shareholding interest in AEB in the following stagesa) Stage 1: AEB paid a non-refundable deposit to MCL, through the issue of 50,000,000 shares in the capital of AEB (AEB Shares) upon execution of the AEB Agreement;(b) Stage 2: AEB issued a further 134,890,940 AEB Shares to MCL to increase MCL’s shareholding in AEB to 15% on 6 April 2018, together with 1 non-transferable option to acquire an AEB Share for every 5 AEB Shares issued under Stages 1 and 2 with an exercise price of $0.075 each and maturing on 31 December 2020 (AEB Options); and(c) Stage 3: AEB is required to issue that number of AEB Shares so as to increase MCL’s shareholding in AEB to 19.9%, together with 1 AEB Option for every 5 AEB Shares issued under Stage 3. As at the date of this Prospectus, Stages 1 and 2 have been completed, with MCL’s current shareholding interest in AEB being 15% of AEB’s issued capital at present. Stage 3 has not yet occurred at present. All AEB Shares issued pursuant to Stages 1 to 3 are (or, in the case of Stage 3 if exercised, will be) subject to voluntary escrow for a period of 12 months from the date of issue.Pursuant to the terms of the AEB Agreement, MCL will be entitled to receive a 5% net royalty which will be payable to MCL on any human applications coming from AEB’s development of animal products. MCL will also be entitled to appoint a representative to the board of AEB (to be approved by the board of AEB, suchapproval not to be unreasonably withheld).
AEB Price at posting:
0.9¢ Sentiment: None Disclosure: Held
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a) Stage 1: AEB paid a non-refundable deposit to MCL, through the issue of 50,000,000 shares in the capital of AEB (AEB Shares) upon execution of the AEB Agreement;(b) Stage 2: AEB issued a further 134,890,940 AEB Shares to MCL to increase MCL’s shareholding in AEB to 15% on 6 April 2018, together with 1 non-transferable option to acquire an AEB Share for every 5 AEB Shares issued under Stages 1 and 2 with an exercise price of $0.075 each and maturing on 31 December 2020 (AEB Options); and(c) Stage 3: AEB is required to issue that number of AEB Shares so as to increase MCL’s shareholding in AEB to 19.9%, together with 1 AEB Option for every 5 AEB Shares issued under Stage 3. As at the date of this Prospectus, Stages 1 and 2 have been completed, with MCL’s current shareholding interest in AEB being 15% of AEB’s issued capital at present. Stage 3 has not yet occurred at present. All AEB Shares issued pursuant to Stages 1 to 3 are (or, in the case of Stage 3 if exercised, will be) subject to voluntary escrow for a period of 12 months from the date of issue.Pursuant to the terms of the AEB Agreement, MCL will be entitled to receive a 5% net royalty which will be payable to MCL on any human applications coming from AEB’s development of animal products. MCL will also be entitled to appoint a representative to the board of AEB (to be approved by the board of AEB, suchapproval not to be unreasonably withheld).
