RE: DLE that's the Game changer!!4 May 2023 15:20
The Agreement sets out the plan of cooperation by defining an initial phase in which the Company undertakes to complete a pilot system to test its iTDE technology on specific Bolivian brines (“Initial Phase”). Following a successful demonstration of the technology before representatives from YLB and having obtained an understanding with YLB of the terms under which the Partnership may deploy a commercial pilot plant in Bolivia, the second phase of cooperation will commence (“Second Phase”). During the Second Phase, the Partnership will undertake to finance and deploy a commercial pilot plant designed and developed by the Company in Bolivia to begin the extraction lithium for an agreed to demonstrate the commercial and ecological profile of the iTDE technology. If the Bolivian pilot plant proves successful, the Second Phase is expected to lead to the execution of a licensing, extraction and exploitation agreement between JVCo and YLB (and / or third parties working with YLB) to commence the path to the commercial exploitation of one or more Bolivian lithium deposits (“Exploitation Agreement”). As an inducement to YLB to conclude the Exploitation Agreement, the Partners may agree to grant YLB (or the third parties) an equity interest in JVCo, diluting the Partners’ interests equally. During the final phase of cooperation, the Partnership will be wound up and the Agreement terminated, being replaced by the JVCo, with any further obligations between the Partners being governed, as necessary, by a shareholders’ agreement.
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