RE:RE:RE:RE:RE:Assumptionsdefcon5,
I'm not a lawyer, either. I would say, though, that Ucore has utilized its legal resources much more effectively than IBC.
Your commentary refers to the Option Agreement. My question to you was regarding the joint venture which was specified in the Research Agreement, which was dated before the Option Agreement was executed.
Here's what Ucore's Notice of Application in Court, as filed Dec 11 2018 in the Supreme Court of Nova Scotia, and which is available to us only because Ucore filed it as Exhibit A to Docket 8 in the lawsuit filed by Ucore in the U.S. District Court for the District of Utah.
6. On April 29, 2014, Ucore and IBC entered into an agreement in which they undertook to cooperatively pursue research projects, a pilot plant, a separation plant to isolate and process rare earth metals, and a prospective joint operating enterprise (the "Research Agreement").
12. The Option Agreement also distinguishes itself from the Research Agreement, and specifically confirms that the performance and obligations of each agreement do not affect the other.
Ucore's Amended Notice of Application in Court, filed April 2 2019 in the Supreme Court of Nova Scotia (Exhibit B to Docket 8 in the U.S. District Court for the District of Utah) does not change this explanation, but rather deletes item 12 above and adds wording to that effect to item 6.
The Research Agreement is a stand-alone document containing separate contractual rights and obligations. Indeed, the Option Agreement expressly distinguishes itself from the Research Agreement, and specifically confirms that the performance and obligations of each agreement do not affect the other. However, the parties' actions under this Research Agreement provide context and background regarding the deepening relationship between Ucore and IBC which culminated, about a year later, in the Option Agreement.
So, to my mind, any delay in implementing the joint venture can't be attributed to IBC. The Option Agreement, of course, is another matter. IBC is clearly trying to claim that this agreement is void, and are clearly utilizing any legal method that they can to delay the implementation of the Option Agreement and thus the purchase of IBC by Ucore.