EX-10.33
from S-4/A
4 pages
Item Details 1. Date March 15, 2024 2. Parties Usha Resources Inc. (Tsx:usha) (And/or Its Subsidiaries or Nominees) (“Usha”) Stardust Power Inc., a Delaware Corporation (“Stardust”) 3. Proposed Transaction Usha and Stardust Intend to Negotiate Agreements Relating to Multiple Potential Phases of the Project, Including: Phase 1: Usha and Stardust to Work Together Collaboratively in Good Faith to Assess the Lithium Brines From the Project and Evaluate Options to Determine if There Is an Economically Feasible Process to Produce Lithium Products From the Project to Potentially Supply Stardust With Lithium Brine Feedstock. Phase 2: If Phase 1is Successful, Usha and Stardust Would Negotiate a Commercial Offtake Agreement Taking Into Consideration Stardust’s Support for the Project in Phase 1 and Offering Most Favoured Nations (Mfn) Terms With Respect to Commercial Pricing. 4. Formal Agreements the Parties Agree to Use Their Commercially Reasonable Efforts to Negotiate and Execute Final Agreements in Respect of Phase 1 And, if Applicable, Phase 2, of the Proposed Transaction on Terms Acceptable to the Parties (Acting Reasonably) (“Formal Agreements”). 5. Conditions of the Formal Agreements the Formal Agreements Would Be Conditioned Upon: (A) Completion of Initial Testwork by Usha and Stardust at Their Own Costs Respectively. (B) Usha and Stardust Determining if There Is an Economically Feasible Process to Produce Lithium Products From the Project. (C) Required Permits to Provide Lithium Products From the Project if Required
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