Possible Breakout Alert, page-16

Hi all.
This is an excerpt from the latest Novo nr.

• Sumitomo will provide human resource assistance to assist Novo with the above objectives.
• Sumitomo commits to make available up to 5,000,000,000 Japanese Yen in order to accomplish the above objectives, subject to mutual agreement on development plans for a project(s) and mutual agreement on a transaction structure(s).
• Novo shall grant to Sumitomo the right to fund a project through an option to purchase an interest in a project based on a mutually agreed-upon valuation or through a subscription for Novo’s common shares at prevailing market prices subject to certain discounts (in accordance with the policies of the TSX Venture Exchange). Sumitomo will retain the sole and exclusive right to determine the final funding mechanism.
• If Sumitomo agrees to commit funds to a project and Novo agrees to receive such funding, Novo shall seek approval from its board of directors to provide Sumitomo with a right of first refusal (the “ROFR” over the project. If granted, the ROFR shall require Novo to provide notice to Sumitomo if an offer is provided to Novo by a third party regarding the project (a “Transaction”. Novo shall deliver to Sumitomo a written offer disclosing terms at the same price and otherwise on the same terms and conditions as set out in the third party offer, and Sumitomo will have a thirty (30) day period to elect to enter into the Transaction with Novo.
• The term of this MOU will expire December 31, 2023.

Here is the link.
http://www.novoresources.com/news-media/news/display/index.php?content_id=339

A certain member of our board has been to Japan but has not given any reason as yet.
I put 2 and 2 together and say, " I don't think funding will be a problem ," again.

Kind regards, Wack.