Applied Minerals Inc (AMNL)

[Thehustle]

On November 23, 2020 (“Effective Date”), Applied Minerals, Inc. (“AMI”) and a Korea-domiciled manufacturer of specialty industrial equipment (the “Purchaser”) entered into an Exclusivity and Collaboration Agreement (“Agreement”).

Per the Agreement AMI sold to the Purchaser halloysite clay in situ (Dragon Mine, Eureka, Utah) for total proceeds of USD five hundred thousand ($500,000.00) and AMI will sell to the Purchaser additional halloysite clay in situ for total proceeds of USD five hundred thousand ($500,000.00). This aggregate volume of halloysite clay purchased is defined as the Initial Halloysite Clay Purchase.


https://seekingalpha.com/filing/5254695