QBL - MCL, page-5

Don’t forget this investment 19.9% of AEB 50,000,000 Million shares 12 month escrow where half way through that.

“The nature and spirit of this agreement indicates the high level of cooperation needed to be demonstrated by intelligent companies to achieve meaningful outcomes in the shortest possible time lines".
Under the Licensing agreement, it is intended that MCL be issued with AEB shares in order for MCL to become a 19.99% shareholder of AEB. The material steps of the license agreement are:
(a) AEB paying a deposit to MCL of 50 million AEB shares on execution of this Agreement;
(b) upon Shareholder Approval, a further issue of AEB fully paid ordinary shares to MCL to bring MCL to be a 15% shareholder of the then issued capital of AEB with 1 non- transferable option for every 5 shares issued (including for.the.deposit 50 million shares) with a strike price of $0.075 and maturing on 31 December 2020 (“Options”);
(c) paying a further equivalent of 4.9% of the issued capital in AEB, to bring MCL to be a 19.9% shareholder of AEB at that time, together with attaching options as per 3(b) above, on the date that AEB extracts oil from MCL cultivars;
(d) 5% net royalty payable to MCL on any human applications coming from AEB’s development of animal products; and
(e) All shares issued in accordance with the agreement shall be subject to a 12 months voluntary escrow period from the date of issue; and
(f) MCL will be entitled to appoint a representative on the board of AEB to be approved by the board of AEB, such approval not to be unreasonably withheld.
The board of QBL is extremely pleased with this latest development of yet another strategic alliance, and looks forward to seeing a successful mutually beneficial relationship develop with AEB in 2018.
  Pnina Feldman
Executive Chairperson Queensland Bauxite Limited
For further information, please contact:
Malcolm James
Executive Chairman/Managing Director Algae.Tec Limited
Queensland Bauxite Ltd
Tel: +61 (0)2 9291 9000
For further information or any queries please email the Company at: [email protected]
www.twitter.com/QLDBauxite