BioPower Operations Corp (BOPO)

[WOOFERHEAD]

He got it from the 5/11/23 8K

https://www.otcmarkets.com/filing/html?id=16645579&guid=OGT-kpYMRb9mB3h

On May 5, 2023, BioPower Operations Corporation, a Nevada corporation (the “Company,” “we,” “us,” or “BioPower”) entered into a Joint Venture Agreement (the “Agreement”) with POWGEX ENERGY PTY LTD., a South Africa limited liability company (“POWGEX”).

The Company will arrange for an investment in POWGEX of USD $6 million in the form of a note, loan or bond within 30 days of the Agreement’s effective date. POWGEX will loan USD $1 million to the Company, to be repaid with funds that the Company will raise for POWGEX. The Company will raise up to USD $450 million for investment in POWGEX within 90 business days of the Agreement’s effective date. The Company will own a 19.99% interest (applicable to equity, profits, dividends, cash distributions, etc.) in the entities formed under the joint venture, and the remainder will be owned by POWGEX. POWGEX will pay the Company a management advisory fee of 1.5% of all investment capital raised for all projects in the joint venture.