Royal Road and MSB Holdings Enter into Joint Venture Shareholders Agreement for Mineral Exploration
Retrieved on:
Thursday, June 1, 2023
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In February of this year, Royal Road and MSB entered into a Strategic Alliance Agreement and Non-Binding Letter of Intent with respect to copper, gold and other metals exploration in the Kingdom of Saudi Arabia (see Press Release February 9, 2023).
Key Points:
- In February of this year, Royal Road and MSB entered into a Strategic Alliance Agreement and Non-Binding Letter of Intent with respect to copper, gold and other metals exploration in the Kingdom of Saudi Arabia (see Press Release February 9, 2023).
- The Strategic Alliance Agreement has led to the development of an exploration decision-support-system, the generation of priority target areas and an initial 12-month work program and budget for exploration operations in KSA.
- Summary terms of the Agreement, subject to regulatory approval, are as follows:
Whilst each Party holds 50 percent of the issued shares of JVCO, the Board of JVCO shall be made up of an equal number of Directors appointed by Royal Road and MSB. - Forward-looking statements of the Company contained in this news release, which may prove to be incorrect, include, but are not limited to the Company's exploration plans.