RE:RE:AcDcYes:
Medallion entered into a non-binding letter of intent (“LOI”) with Australian private company ACDC Metals Ltd (“ACDC”) to utilize Medallion’s proprietary MMP process. ACDC is securing three mineral sand properties and other exploration assets in Victoria, Australia. The LOI outlines various terms and conditions that will form the basis of a binding contract, subject to mutual due diligence, provides ACDC with the exclusive right to construct a mineral sand monazite refinery in southeastern Australia utilizing the MMP, and the right to sub-license the LAD Chromatography process for REE separation from us.