Wednesday, January 23, 2019 5:49:40 PM
The agreement guarantees a $34 million capital commitment allocated over a 3 year period on a time-lined payment schedule to earn-in a maximum 40% equity interest in the Company. The schedule consists of a $5 million initial payment that has now been received earning a 6% equity interest, a $9 million minimum payment in 2019 to earn a further 10% interest, a $10 million minimum payment in 2020 to earn a further 12% interest and a $10 million minimum payment in 2021 to earn a further 12% interest.
TAZ
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