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The commercial terms of the acquisition, which is subject to due diligence and approval by
Indo Mines shareholders, includes the issue to Fireside shareholders of 20 million Indo
Mines shares at settlement, with further ordinary shares to be issued upon achievement of
independent milestones as follows:
1. 20 million Indo Mines shares upon a decision to mine a coal project and procuring the
funds required for the development, construction and operation;
2. 15 million Indo Mines shares upon the production and sale of 300,000 tonnes of coal;
3. 20 million Indo Mines shares upon the production and sale of 1,000,000 tonnes of
4. 20 million Indo Mines shares if Fireside enters into a coal forward sales agreement
within 28 days of this Agreement to receive a cash amount of US$5,000,000. If the
cash amount to be received by the Company pursuant to a coal forward sales
agreement) is less than US$5,000,000, then a pro-rata amount of the additional Indo
Shares based on the cash amount to be received by the Company.
5. 20 million Indo Mines shares upon the Company obtaining sufficient funding to
complete the Bankable Feasibility Study (BFS) to develop the Pig Iron Project; and
6. 20 million Indo Mines shares upon the decision to mine the Pig Iron Project and the
introduction of a strategic partner and Indo Mines entering into an unconditional
strategic alliance to substantially assist in development and financing of the Project.
Knappe 100 Mio Shares (diluted) sind schon im Spiel und es kommen nochmal reichlich dazu........................................