Non-Binding Letter of Interest Between Bion Environmental Technologies, Inc. and Perfect Blend, LLC for Purchase of Liquid Ammonium Bicarbonate

Contract Categories: Business Operations › Sales Agreements
Summary

Bion Environmental Technologies, Inc. and Perfect Blend, LLC have signed a non-binding letter of interest regarding the potential purchase of Bion's 10-0-0 Liquid Ammonium Bicarbonate. Perfect Blend may buy about 50,000 gallons per year at $7.00 per pound of nitrogen, paying for transportation, once the product is available. The agreement depends on the product meeting certain quality and regulatory standards. This letter is not a final contract, and any future commitment will require a separate agreement.

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EX-10.1 2 ex10x1.htm PERFECT BLEND LLC LOI

Exhibit 10.1

 

Non-Binding Letter of Interest (LOI)

Date: May 20, 2025

Bion Environmental Technologies, Inc:

Perfect Blend, LLC (PB) has an interest Bion's in procuring 10-0-0 Liquid Ammonium Bicarbonate "Bion's product" and may commit to purchasing the product spot pricing via when the product becomes available. Below are basic terms of the non-binding LOI which are subject to the Conditions Precedent:

1.PB agrees to pricing equivalent to $7.00/lb of nitrogen for the product, FOB from point of origin.
2.PB agrees to pay transport.
3.PB   has interest in approximately 50,000 gallons of Bion's product per annum.
4.Bion will produce the product and store on-site.
5.A term contract may be considered to reserve future production volumes of Bion's product.

 

Conditions Precedent:

1.Evidence of OMRI and CDFA compliance will be provided to the customer upon delivery.
2.Bion's Product will meet a minimum liquid nitrogen content of 10% ammoniacal nitrogen.
3.PB acknowledges that Bion is a publicly-traded company. As such, this LOI represents a material event that, by statute, Bion must announce publicly and in an SEC 8-K filing.

This Non-binding Letter of Intent is agreed to and accepted as of the date stated above.

  Bion Environmental Technologies, Inc.
   
   
  By:  /s/ Craig Scott
    Craig Scott, CEO

 

  Perfect Blend, LLC
   
   
  By:  /s/ Daniel T. Hazen
    Daniel T. Hazen, Managing Member