Aqua Metals Inc
AQMS
Delayed Nasdaq - 10/20 10:00:00 pm
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AQUA METALS : Entry into a Material Definitive Agreement (form 8-K/A)

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04/21/2017 | 03:51 pm

Item 1.01 Entry into a Material Definitive Agreement.

On April 13, 2017, we entered into an agreement with Ebonex Limited, a company registered in England and Wales ("Seller"), for our purchase, and the Seller's sale, of all of the capital shares of Ebonex IPR Limited, a company registered in England and Wales. Ebonex IPR Limited is a pre-revenue IP-based company that has developed patented technology in the field of advanced materials and manufacturing methods for advanced lead acid batteries. In consideration of our acquisition of all of the capital shares of Ebonex IPR Limited, we paid the Seller $100,000 and issued to the Seller 123,776 shares of our common stock. The agreement contains representations, warranties and indemnities that are customary to acquisition agreements of this nature. The transactions under the agreement closed on April 13, 2017.

None of our officers or directors had any direct or indirect interest in our acquisition of Ebonex IPR Limited. In the early 1990s, our chief executive officer, Dr. Stephen R. Clarke, and Dr. Clarke's father co-founded Atraverda Ltd., a UK company that is a predecessor to Ebonex Limited. In 1993, Dr Clarke and his father resigned from their positions with Atraverda Ltd. and Atraverda Ltd. was subsequently dissolved and wound-up. Neither Dr. Clarke, his father nor any of their family members or affiliates have ever held any direct or indirect interest in Ebonex IPR Limited, Ebonex Limited or any other successor in interest to Atraverda Ltd.

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