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Stock impact report

Usha Resources Congratulates Stardust Power on NASDAQ Listing, Provides Update on LOI to Sell Up to 90% of the Jackpot Lake Project for Total Consideration of up to US$26,025,000 [Yahoo! F...

Stardust Power Inc. (SDST) 
Company Research Source: Yahoo! Finance
exploration company, congratulates Stardust Power, Inc. (" Stardust Power ", "SDST" and "SDSTW") on the completion of its business combination with Global Partner Acquisition Corp II and the listing of its shares of Class A common stock on the Nasdaq Global Market ("Nasdaq"). Usha entered into a Letter of Intent (the " LOI ") with Stardust Power dated March 15, 2024 granting Stardust Power the right to earn up to a 90% interest subject to a 2% Net Smelter Royalty (" NSR ") in Usha's Jackpot Lake Lithium Brine Project (" Jackpot Lake " or the " Project ") for total consideration of US$26,025,000 over five years. A non-refundable sum of US$75,000 has been paid to Usha by Stardust Power pursuant to the LOI. Stardust Power's listing on the NASDAQ is a necessary condition for the execution of definitive agreements (the " Definitive Agreement ") pursuant to the LOI. Upon completion of the full earn-in of US$26,025,000 , which comprises payments totaling US$1,525,000 cash, US$750,000 Show less Read more
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