In the original announcement regarding the agreement with Water Warriors (early Aug 2022), it was stated that the agreement to grant PET exclusive global distribution rights was for an intial 2 year period - mid 2022 to mid 2024.
So the first tranche "time hurdle" means nothing & I'm guessing the 90 tonnes condition is a given.
The agreement also allows for an option to extend the agreement "subject to PET meeting certain performance criteria"
What is this "performance criteria"?
My guess is the second tranche "performance hurdle" 160 tonnes during the 2024 year, (or say 80 tonnes Jan 2024 to mid 2024) maybe in line with the above performance criteria that PET has to meet in order to extend the agreement.
They are throwing in some shares to sweeten the extension of the agreement for another 12 months.
Why would they do this ?
In the original announcement regarding the agreement with Water...
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