Thanks. I remember the PR but the wording, at least to me, is ambiguous.
The Client is committed to purchase exclusively from PyroGenesis, and the Company is committed to exclusively supply the Client with plasma torches and auxiliary equipment for tunneling applications.
So it's clear the company will purchase exclusively from PYR and no one else.
But
It says PYR is committed to exclusively supply the company with torches and aux equip.
Obviously that doesn't mean they will only sell torches exclusively to this client and no one else in the world.
So does it mean they will be the clients exclusive torch supplier essentially meaning exactly what the first statement said just in reverse and PYR can also sell to other tunnelers and other companies in other industries.
Or does it mean PYR will only sell to this tunneling company and no other TUNNELING companies.
How broad does the exclusivity go? Does it stop at the industry and if so what is the classification of companies they will not sell to. Is it tunneling specific companies? Mining companies? Anyone who digs with a torch?
I'm just seeking clarity on the scope of restrictions they have agreed to.