secwatch.observer — SEC 8-K summary
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Issuer:     Texas Mineral Resources Corp. (TMRC)
CIK:        0001445942
Form:       8-K
Filed at:   2023-06-27T23:59:59+00:00
Accession:  0001839882-23-016466
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Texas Mineral Resources amends Round Top JV agreement; sets 3% minimum interest, new cash call dilution rules
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- If TMRC fails to fund a cash call, USARE can fund the shortfall and TMRC's interest dilutes by shortfall / TMRC market cap.
- TMRC's interest cannot fall below 3%; further dilution triggers priority distributions to USARE instead.
- Monthly cash calls require member contribution within 10 days; no response counts as deemed non-contribution.
- Distributions: cash in excess of reserves paid pro rata; priority distributions to USARE if minimum interest triggered.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1445942/000183988223016466/0001839882-23-016466-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1445942/000183988223016466/tmrc_8k-062723.htm
  HTML page:      https://secwatch.observer/filing/0001839882-23-016466

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