RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Where’s the big news?Absolutely! I would say legal as it is material news. All I am saying is that I do not believe the deal is "dead".
If we take a look at the intent of the LOI (not the "word for word" bits),
Osmose was first coming in through a PP for $3.55M. Upon some derisking they upped the PP to $.12 for an additional $700K. The total deal value is around $45M CDN.
In my opinion Osmose has only given up exclusivity they had by not completing in the agreed timelines. I have seen Definitive Agreements for much smaller values take this long, or longer. We don't know all of the conditions that are being written in this complex deal.
From the original Jan 31 news release "The completion of this transaction is still subject to several conditions, including signing a definitive agreement.