ASP Isotopes Inc. agreed to acquire 51% stake in Pet Labs Pharmaceuticals Proprietary Limited from Nucleonics Imaging Proprietary Limited for $2 million.

ASP Isotopes Inc. (NasdaqCM:ASPI) agreed to acquire 51% stake in Pet Labs Pharmaceuticals Proprietary Limited from Nucleonics Imaging Proprietary Limited for $2 million on October 30, 2023. Under the Purchase Agreement, ASP Isotopes has agreed to purchase from the Nucleonics, 51 ordinary shares in the issued share capital of PET Labs representing 51% of the issued share capital of PET Labs. The Company agreed to pay to the Seller an aggregate of $2 million for the Initial Sale Shares, of which aggregate amount $0.5 million is payable on the completion of the sale of the Initial Sale Shares and $1.5 million is payable on demand after one calendar year from the agreement date.

ASP Isotopes Inc. has an option to purchase from the Seller the remaining 49 ordinary shares in the issued share capital of PET Labs, representing the remaining 49% of the issued share capital of PET Labs. DLA Piper South Africa Services (Pty) Ltd acted as legal advisor to ASP Isotopes Inc. (NasdaqCM:ASPI).