According to a release, during the 30-month term of the stock purchase agreement the Company, at its sole discretion, has the right to sell to Lincoln Park up to an additional
There are no upper limits to the price Lincoln Park may pay to purchase Plandai common stock and the purchase price of the shares related to any future investments will be based on the prevailing market prices of the Company's shares immediately preceding the notice of sale to Lincoln Park. Lincoln Park has agreed not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of the Company's shares of common stock. The agreement may be terminated by the Company at any time, at its sole discretion, without any monetary cost. The proceeds from this investment will be used for research, product development, marketing and general operating purposes.
A more detailed description of the agreement is set forth in the Company's Current Report on Form 8-K recently filed with the
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