AVZ 0.00% 78.0¢ avz minerals limited

Ann: Notice of General Meeting/Proxy Form, page-74

  1. 5,890 Posts.
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    The deal is a" subsription agreement " straight forward , it protects both parties in turning a promise into a real transaction.
    As long as the conditions set are met OR WAIVED.
    What follows the subsription agreement is an off take , hence why I highlight that the Yibin / CATL connection is a great step forward to obtaining funds for progessing AVZ.
    You need off takes to proceed to Bank Finance/ project funding.
    Without a Subsription Agreement in place Yibin can walk away or AVZ not proceed .
    protects both sides, hence the importance to both parties.

    • Parties to negotiate in good faith to agree and execute a binding offtake arrangement /ASX announcement.11th Nov

    1.6 Technical information required by ASX Listing Rule 7.1 Pursuant to and in accordance with ASX Listing Rule 7.3, the following information is provided in relation to Resolution 1: (a) the name of the person to whom the Company will issue the Subscription Shares to is Yibin Tianyi (or its nominee), who is not a related party of the Company; (b) the maximum number of Shares to be issued to Yibin Tianyi (or its nominee) under the Subscription is 314,300,000 Shares. The class of the Subscription Shares issued will be fully paid ordinary shares in the capital of the Company issued on the same terms and conditions as the Company’s existing Shares; (c) the Subscription Shares will be issued no later than 3 months after the date of the Meeting (or such later date to the extent permitted by any ASX waiver or modification of the ASX Listing Rules) and it is intended that issue of the Subscription Shares will occur on the same date of the Meeting; (d) the issue price will be $0.045 per Subscription Share. The Company will not receive any other consideration for the Subscription Shares; (e) the main purpose of the issue of the Subscription Shares is to raise capital to allow the Company to: (i) complete the acquisition of an additional 5% interest from Dathomir Mining in accordance with the Share Sale Agreement to increase the Company's interest in the Manono Project to 65%; and (ii) undertake early development works at the Manono Project while the definitive feasibility study is being completed. A summary of the proposed use of funds raised from the Subscription by the Company is set out in Section 1.4 above; (f) the Subscription Shares are being issued to Yibin Tianyi (or its nominee) under the Subscription Agreement. A summary of the material terms of the Subscription Agreement is set out in Section 1.2 above; and (g) a voting exclusion statement is included in Resolution 1 of the N

    ALL IMO
 
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Currently unlisted public company.

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