M2i Global signs non-binding collaboration agreement with Nimy Resources

M2i Global (MTWO) has executed a non-binding, collaboration agreement with Nimy Resources. The CA is aimed at assuring a supply of gallium in support of United States of America’s Department of Defense. The CA is non-binding in nature and establishes the framework for M2i and Nimy to work together to promote and leverage each other’s strategic interests in relation to the rapid development of projects to supply gallium to the DOD. The parties intend to enter into a more fulsome definitive agreement based upon the CA to build out the relevant framework and the terms of that substantial contract to follow will be negotiated but have yet to be agreed. The material terms of the CA are set out as follows: M2i and Nimy are the parties to the CA, with no clear term or termination provisions established in the CA; M2i will attempt to secure gallium contracts in support of the US DOD; Nimy to deliver gallium as it identifies and develops its projects in Australia; M2i and Nimy to work cooperatively to leverage each other’s specialist capabilities in the context of the framework established; a fund management company is proposed to be appointed as an advisor to M2i and Nimy in relation to the relationship contemplated by the CA; the definitive agreement based on the CA may contemplate consideration payable each way should either party achieve certain commercial outcomes. The quantum and terms of any such consideration will be subject to negotiation as part of the preparation of a definitive agreement in due course. However, no consideration is payable under the CA itself; and key personnel within each entity will act as the designed point of contact in relation to the CA. M2i and Nimy advise that the general strategic objectives and proposed practical effect of the substantive agreement to follow from the CA is anticipated to be as follows: Create a mutual beneficial relationship for M2i and Nimy to supply gallium in support of US government requirements; and Develop further critical minerals supply.