Exclusivity until the 30th.23 Sep 2019 19:40
Exclusivity
Oilex has entered into the Exclusivity Agreement with Koru to secure its exclusive right to negotiate with Koru in respect of the Proposed Transaction. Oilex has today paid a non-refundable £50,000 exclusivity fee to Koru. This fee will be offset against the Purchase Consideration, should the Proposed Transaction complete.
Koru has granted Oilex exclusivity until 30 September 2019. During this time, it is intended that the terms of the definitive documentation and funding for the Proposed Transaction will be finalised, and Oilex will seek confirmation from ASX that Listing Rules 11.1.2 and 11.1.3 will not apply to the Proposed Transaction.