Friday, March 22, 2013 9:09:34 AM
While the testing process continues in China, the exclusivity period has now elapsed and Nio-Star and Sarissa have elected not to extend it. This allows Nio-Star and Sarissa to pursue other financing and development sources that have approached them, but with which they could not pursue discussions as a result of the exclusivity period that had been granted. While the original Chinese SOE no longer has an exclusive arrangement, a good working relationship was developed, and Sarissa and Nio-Star remain interested in working toward a JV with this group. Also, should Sarissa and Nio-Star reach an agreement with a different party to fund the exploration and development of its Nemegosenda property, Nio-Star has discussed purchasing the SOE's testing results.
The way I read this is Nio-Star brought this up. Not the other way around. I guess it is all up to interpretation.
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