Item 7.01 Regulation FD Disclosure.
On November 18, 2019, Lightbridge Corporation (the “Company”) delivered a notice of termination of the R&D Services Agreement, dated November 14, 2017, by and among Framatome SAS (formerly known as AREVA NP S.A.S), Enfission, LLC (“Enfission”) and the Company (as amended by Amendment Number One, dated January 25, 2018, and Amendment Number Two, dated June 20, 2018, the “RDSA”), which, among other things, defined the terms and conditions for joint research and development activities among Framatome SAS, Enfission, and the Company, thereby terminating the RDSA, effective immediately. On November 23, 2019, in connection with the termination of the RDSA, the Board of Directors and the management of the Company determined that it is advisable and in the best interest of the Company and its shareholders to dissolve Enfission, a 50/50 joint venture between the Company and Framatome Inc. (the “Joint Venture”). Various corporate and operational matters relating to Enfission are governed pursuant to that certain Operating Agreement by and between Framatome Inc. and the Company, dated January 25, 2018, (as amended by Amendment Number One, dated May 7, 2018, and Amendment Number Two, dated September 13, 2018, the “Joint Venture Operating Agreement”). The Company intends to take the necessary steps to dissolve the Joint Venture pursuant to the terms of the Joint Venture Operating Agreement.
The information in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “1934 Act”), nor shall it be deemed “incorporated by reference” into any filing under the Securities Act of 1933, as amended, or the 1934 Act, except as may be expressly set forth by specific reference in such filing.
