LIGHTBRIDGE CORPORATION (NASDAQ:LTBR) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
On November 18, 2019, Lightbridge Corporation (the “Company”) delivered a notice of termination of the R&D Services Agreement, dated November 14, 2017, by and among Framatome SAS (formerly known as AREVA NP S.A.S), Enfission, LLC (“Enfission”) and the Company (as amended by Amendment Number One, dated January 25, 2018, and Amendment Number Two, dated June 20, 2018, the “RDSA”), which, among other things, defined the terms and conditions for joint research and development activities among Framatome SAS, Enfission, and the Company, thereby terminating the RDSA, effective immediately. On November 23, 2019, in connection with the termination of the RDSA, the Board of Directors and the management of the Company determined that it is advisable and in the best interest of the Company and its shareholders to dissolve Enfission, a 50/50 joint venture between the Company and Framatome Inc. (the “Joint Venture”). Various corporate and operational matters relating to Enfission are governed to that certain Operating Agreement by and between Framatome Inc. and the Company, dated January 25, 2018, (as amended by Amendment Number One, dated May 7, 2018, and Amendment Number Two, dated September 13, 2018, the “Joint Venture Operating Agreement”). The Company intends to take the necessary steps to dissolve the Joint Venture to the terms of the Joint Venture Operating Agreement.
The information in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “1934 Act”), nor shall it be deemed “incorporated by reference” into any filing under the Securities Act of 1933, as amended, or the 1934 Act, except as may be expressly set forth by specific reference in such filing.
About LIGHTBRIDGE CORPORATION (NASDAQ:LTBR)
Lightbridge Corporation is a nuclear fuel technology company. The Company participates in the nuclear power industry in the United States and internationally. Its segments include nuclear fuel technology business and nuclear energy consulting business. The nuclear fuel technology business develops next generation nuclear fuel technology that increases the power output of commercial reactors; generates nuclear energy and the amount of nuclear waste on a per-megawatt-hour basis, and enhances reactor safety and the proliferation resistance of spent fuel. The nuclear energy consulting business segment provides nuclear power consulting and strategic advisory services to commercial and governmental entities across the world. It provides integrated strategic advice across a range of areas, including, regulatory development, nuclear reactor site selection, procurement and deployment, reactor and fuel technology, international relations, program management and infrastructure development.