CHICAGO--(BUSINESS WIRE)--IMAGIN Molecular Corporation (OTCBB: IMGM) has agreed in a letter of intent to issue 49% of the post capitalization of IMGM in exchange for 84,000,000 Positron Corporation common shares plus 100% of the equity of the Planet Green Bottle, all IMGM shares to be distributed to shareholders or affiliates of Planet Green. Certain Planet Green shareholders have agreed to accept IMGM Preferred Shares which will be convertible into IMGM common shares only if the new company is successful in achieving milestones of revenue of at least (US) $10, $25, $50 and $100 million annually in any year in the next 7 years. Contingent on achieving the individual milestones, each Class of Preferred Stock will become convertible into 25,000,000 common shares of IMGM. Conversion can be accelerated if the common shares of the new company trade at 50¢ per share or better for 20 consecutive days during that period. A Planet Green shareholder acquired 20,000,000 IMGM common shares payable in exchange for 10,000,000 Planet Green common shares and 10,000,000 Positron Corporation common shares held by the Planet Green shareholder.
