Lightbridge Corp Enters Material Definitive Agreement

TL;DR

LTBR signed a big deal, details TBD.

AI Summary

Lightbridge Corporation (LTBR) entered into a material definitive agreement on March 26, 2024. The filing does not specify the nature of the agreement or any associated dollar amounts, but it is a significant event for the company.

Why It Matters

This filing indicates a significant new contract or partnership for Lightbridge Corp, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing regarding the material definitive agreement introduces uncertainty about its terms and potential impact.

Key Players & Entities

• Lightbridge Corporation (company) — Registrant
• March 26, 2024 (date) — Date of earliest event reported
• Nevada (jurisdiction) — State of incorporation
• Thorium Power, Ltd (company) — Former company name
• NOVASTAR RESOURCES LTD. (company) — Former company name

FAQ

Key Financial Figures

• $0.001 — nge on Which Registered: Common Stock, $0.001 par value LTBR The Nasdaq Capital M
• $635,000, b — ee time were increased by approximately $635,000, bringing the total estimated cost for the
• $1,708,623 — Project Agreement, described below, to $1,708,623. As previously disclosed, on December
• $4.3 million — reements are estimated at approximately $4.3 million (excluding project contingencies) on a

Filing Documents

• ltbr_8k.htm (8-K) — 22KB
• 0001477932-24-001583.txt ( ) — 143KB
• ltbr-20240326.xsd (EX-101.SCH) — 6KB
• ltbr-20240326_lab.xml (EX-101.LAB) — 14KB
• ltbr-20240326_cal.xml (EX-101.CAL) — 1KB
• ltbr-20240326_pre.xml (EX-101.PRE) — 9KB
• ltbr-20240326_def.xml (EX-101.DEF) — 2KB
• ltbr_8k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On March 26, 2024, Lightbridge Corporation ("Lightbridge" or the "Company") and Battelle Energy Alliance, LLC ("Battelle"), the operating contractor of Idaho National Laboratory, entered into Modification No. 2 ("Modification No. 2") to the Project Task Statement under the Strategic Partnership Project Agreement, dated December 9, 2022, as amended on May 23, 2023, by and between the Company and Battelle. Pursuant to the terms of Modification No. 2, the potential amounts payable by the Company to reimburse Battelle for its expenses and employee time were increased by approximately $635,000, bringing the total estimated cost for the work to be performed under the "Umbrella" Strategic Partnership Project Agreement, described below, to $1,708,623. As previously disclosed, on December 9, 2022, the Company entered into initial releases with Battelle in collaboration with the U.S. Department of Energy ("DOE"), which releases set forth the initial scopes of work and funding commitments under an "Umbrella" Strategic Partnership Project Agreement and an "Umbrella" Cooperative Research and Development Agreement (together, the "Agreements"), each dated September 27, 2022, between the Company and Battelle. Under the Agreements, the Company is responsible for most expenses and will reimburse Battelle for its expenses and employee time, and Battelle and DOE will contribute feedstock materials for the fabrication of ingots and extrusion of billets. Battelle will also fabricate irradiation capsule hardware and assemble the experiment with fuel coupons and irradiate the experiment in the Advanced Test Reactor ("ATR"). Each Agreement has an initial term of seven years from the effective date. Pursuant to the initial releases, the Company is working with Battelle at Idaho National Laboratory to fabricate a delta-phase enriched uranium/zirconium alloy ingot that is suitable for extruding fuel coupon specimens in accordance with L

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LIGHTBRIDGE CORPORATION Dated: March 29, 2024 By: /s/ Seth Grae Name: Seth Grae Title: President and Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR