The issue of the equity in Triton may be undertaken in three (3) or more separate tranches, ensure that SQZG do not hold at any one time more than 19.99% equity in Triton.... The total value and the amount of equity issued in the each tranche to Triton from SQZG is it at the sole discretion of Triton. Debt
this is important so they dont take over the board!!
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- Ann: LOI for Project Funding and Off-Take for Nicanda Hill
Ann: LOI for Project Funding and Off-Take for Nicanda Hill, page-44
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