Item 1.01 Entry into a Material Definitive Agreement
Overhoff Technology Corporation is an Ohio corporation and wholly-owned subsidiary of US Nuclear Corp., a Delaware corporation (collectively referred to herein as the “Company”).
On February 5, 2016, the Company entered into a Purchase Order with Radiation Measurement Systems (“RMS”) located at 81 Romeo Crescent in Woodbridge, Ontario, Canada (the “RMS Agreement”). On February 5, 2016, RMS entered into a Purchase Order with SNC-Lavalin Nuclear, Inc., a Canadian corporation located at 2275 Upper Middle Road East in Oakville, Ontario, Canada L6H 0C3 to refurbish the D-2-O Heavy Water Management Building, West Annex Project (the “RMS/SNC Agreement”). RMS will be providing a fixed area alarming tritium monitoring system purchased from the Company under the RMS Agreement at the Darlington Energy Centre in Courtice, Ontario, Canada under the RMS/SNC Agreement. The shipment is scheduled to occur on or by July 29, 2016, unless subsequently modified by the parties, and the total contract price under the RMS Agreement to the Company is $391,147. There is no relationship between RMS and the Company, or its subsidiaries.
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