Where have your posts gone Obs ...2 Jun 2021 09:37
Anyway ...great I copied the summary of the JV S , very interesting
Summary of Cadence Joint Venture with Bacanora Lithium (Megalit)
Participation and Unanimous Shareholders Agreement (the “Second USA”) dated 12 March 2014 between the Company,MSB, Megalit, Cadence and REM Mexico in respect of Megalit and the Buena Vista, San Gabriel and Megalit concessions.Pursuant to the Second USA, REM Mexico was given the option to participate and purchase shares in Megalit through the completion of a series of staged investments: (i) stage 1 required an aggregate contribution of US$750,000 in return for 11,111 shares (or 10% total issued shares of Megalit); (ii) stage 2 required the successful completion of stage 1 and an aggregate contribution of US$1,500,000 in return for a further 31,750 shares (or 20% total issued shares of Megalit); and (iii) stage 3 which required the successful completion of stage 1 and 2 and, if elected, gave REM Mexico the option, expiring September 30, 2014, to purchase a further 56,741 shares in Megalit, which would lead to a total ownership stake of 49.9%, at a negotiated price. The stage 3 option has therefore lapsed. In addition to the shares available to Cadence Mexico, 100,000 shares of Megalit were issued to MS Band 1 share to Martin Vidal. The Second USA contains certain other provisions relating to shareholder rights, with respect to the disposition of shares including any right of first refusal as well as put and call options, as well as those relating to non-competition, confidentiality, termination and governing the concessions as an area of mutual interest
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