St-Georges, Iconic sign technology licensing agreement
2017-12-07 14:18 ET - News Release
Also News Release (C-ICM) Iconic Minerals Ltd (2)
Mr. Frank Dumas reports
EXCLUSIVE TECHNOLOGY LICENSING AGREEMENT WITH ICONIC MINERALS FOR NEVADA OPERATIONS
St-Georges Platinum and Base Metals Ltd. and Iconic Minerals Ltd. have entered into a definitive exclusive technology licensing agreement for all sites to be operated by Iconic and/or its affiliates in the state of Nevada.
In return for a perpetual licence for the technologies and its future improvements, Iconic will pay to St-Georges:
- Invest by way of private placement CAD $100,000 in St-Georges equity within 6 months.
in total 5 million common shares of Iconic to be released in stages,
based on benchmarks reached. The performance schedule outlining the
stages of each development phase where shares will be issued according
to the schedule below:
- 2,000,000 shares at Stage 1 Benchmark completion: which is defined by the delivery of a viable lithium recovery positive independent laboratory currently commissioned to by St-Georges;
- 1,500,000 shares at Stage 2 Benchmark completion: which is defined by independent report describing results of initial pilot mining operations and the processing of a minimum of one (1) metric ton in a simulated industrial environment; and
- 1,500,000 shares at Stage 3 Benchmark completion: which is defined by the reception of a Preliminary Economical Assessment Report (PEA) or at commercialization decision or the third (3 rd ) year anniversary mark of this agreement assuming other issuance have all been done;
- The shares St-Georges earn in each stage will be escrowed for the duration of 36 months.
- A perpetual Net Revenue Interest Royalty (NRI) of 5% on all minerals produced on sites licensed with SX technologies;
SX technology process lithium bearing material in three (3) phases:
- It concentrates the lithium bearing material.
- It converts the lithium to a salt and purifies it through lithium selection. The process involves gasification to activate the lithium and selectively removing the lithium salt from the other elements with the usage of a proprietary technique, which will be kept confidential at this stage.
- It involves purification and direct production of lithium carbonate or lithium hydroxide and can be linked to a lithium metal production.
About St-Georges Platinum and Base Metals Ltd.
St-Georges is developing new technologies to solve the biggest environmental problems in the mining industry.
The company controls, directly or indirectly, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie nickel project, for industrial minerals on Quebec's North Shore, and for lithium and rare metals in Northern Quebec and in the Abitibi area. © 2017 Canjex Publishing Ltd. All rights reserved.