Suvo Executes Term Sheet with PERMAcast

News Release:

• Suvo Strategic Minerals is pleased to announce that it has executed a non-binding term sheet with Polvine Pty Ltd (PERMAcast). The term sheet provides a 30-day exclusivity period whereby Suvo and PERMAcast will negotiate and execute a binding Joint Development Agreement (JDA) for the delivery of low carbon geopolymer concrete (GPC) products and projects.
• Suvo and PERMAcast propose to deliver low carbon GPC products and projects and otherwise commercialize the IP created under the JDA through the SPV Entity, in which Suvo and PERMAcast will each hold 50% of the shares issued.
• The proposed JDA terms stipulate that PERMAcast will provide all the necessary capital funding required. whilst leveraging their expertise to fast-track Suvo’s the commercialization process and industry validation, while both retain their existing intellectual property rights.