Brexit Simplified Key Points

Or you could just wikipedia alternatively.

The UK's EU referendum 
Information extracted on 28 June 2016 from http://www.bbc.com/news/uk-politics-32810887

• European Union (EU)
  Economic and political partnership involving 28 European countries
  Began after World War Two to foster economic co-operation, with the idea that countries which trade together are more likely to avoid going to war with each other.
  Currently acts as a "single market" allowing goods and people to move around, basically as if the member states were one country.
  It has its own currency, the euro, which is used by 19 of the member countries, its own parliament and it now sets rules in a wide range of areas - including on the environment, transport, consumer rights and even things such as mobile phone charges.
  
• Referendum - vote in which everyone (or nearly everyone) of voting age can take part
  71.8% of citizens turned up, more than 30 million people voted
  Took part on Thursday 23 June 2016
  Leave won by 52% to 48% of Remain
  
• Supported Leaving EU (Brexit)
  England (53.4% Leave to 46.6% Remain)
  Wales (52.5% Leave to 47.5% Remain) 
  
• Supported Remaining in EU
  Scotland (62% Remain to 38% Leave)
  Northern Ireland (55.8% Remain to 44.2% Leave)

Article 50
Information extracted on 27 June 2016 from http://www.telegraph.co.uk/news/2016/06/24/britain-votes-to-leave-the-eu-what-happens-now-that-brexit-is-a/

• Triggering Article 50, formally notifying the intension to withdraw, starts a two-year clock running.
• After that, the Treaties that govern membership no longer apply to Britain. 
• The terms of exit will be negotiated between Britain’s 27 counterparts, and each will have a veto over the conditions.

• Difficulties will come in agreeing in new trading relationships, establishing what tariffs and other barriers to entry are permitted, and agreeing on obligations such as free movement. Such a process, EU leaders claim, could take another five years.
• ​Business leaders want the easiest terms possible, to prevent economic harm. But political leaders say the conditions will be brutal to discourage other states from following suit.
• It means that the Government would have to do three acts simultaneous: negotiate a new deal with Brussels, win a series of major bilateral trade deals around the world, and revise its own governance as EU law recedes.
• Some people in the EU community believe that Britain quitting its membership could encourage other nations to follow suit with referendums of their own - or demand tailor-made deals of their own. - So largely the fate of EU depends on what kind of precendence Brexit sets. 

The Economist - There's an entire page that automatically updates articles. But articles on the economist are much more serious to read :) 
http://www.economist.com/Brexit