On 12 December 2019, Prospect Resources entered a MOU with Uranium One Group JSC (Uranium One).
This MOU is more fully described in the Company’s announcement of 12 December 2019.
The discussions with Uranium One are progressing well.
In light of this, Prospect has now appointed Renaissance Securities as its exclusive financial advisor in relation to the potential sale, directly or indirectly, of the Company’s economic or other participation in, or the whole or part of the licence and/or the assets of, the Arcadia Lithium Project or of the Company itself to Uranium One or its affiliates.
The discussions with Uranium One are incomplete and ongoing and there is no guarantee that the MOU or any discussions with Uranium One will result in a formal binding agreement or proposal or as to the timing or terms on which any transaction may proceed.