The non-binding agreement, which is not a firm intention to make an offer, will see both players try to get paperwork together to get a deal firmed up.
The proposed purchase price has not, however, increased since the last tentative suggestion of C$0.147 (US$0.1106) per Tethys share, payable in full with Nostrum shares.
Any purchase would see shares issued in the ratio of one Nostrum share for every 69.4333
