UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01- Entry Into a Material Definitive Agreement
On February 8, 2024, Graphene & Solar Technologies Limited (GSTX) entered into a non-binding Memorandum of Understanding (MOU) with Henosis Limited a New Zealand Corporation (HENOSIS) (GSTX and HENOSIS referred to hereinafter as the “Parties”).
The MOU outlines general terms and conditions for GSTX to pursue the possible acquisition of certain shares held by HENOSIS. And HENOSIS desires to sell certain shares to GSTX. It is agreed upon that if negotiations become successful upon completing necessary due diligence and verifications, the parties would proceed accordingly with a definitive agreement on certain assets within 90-days of signing the MOU.
HENOSIS is offering to sell its shareholding in Ausquartz Group Holdings Pty Ltd (AQGROUP). The AQGROUP is involved in the testing, development and production of High Purity Quartz Sand, and High Purity Quartz Crucibles for use in solar and semiconductor wafer production.
Financial Item 9.01 -Financial Statements and Exhibits.
(a) Financial statements of business acquired. Not applicable.
(b) Pro forma financial information. Not applicable.
(c) Shell company transactions. Not applicable.
(d) Exhibits.
| Number | Description |
| XX.XX | Non-binding Memorandum of Understanding (MOU) |
+Filed herewith
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: February 9, 2024 | Graphene & Solar Technologies Limited | |
| By: | /s/ JASON MAY | |
| Name: | Jason May | |
| Title: | Chief Executive Officer and Director | |