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2/28/18

By the way, that Lithium X (LIX.v) break fee and escrow agreement

Reader 'D' pointed this out in a mail this morning:


"The reverse break fee has been secured through the deposit of US$16,000,000 in trust with Lithium X’s counsel in Hong Kong, subject to the terms of an escrow agreement under which those funds may not be released without the consent of both parties"

Ever seen an escrow with a veto clause before? What kind of wet-behind-the-ears CEO agreed to these terms, can't be ver....ah, yeah. Right.