$ENRT huge news released in premarket! Enertopia S
Post# of 10141
Posted On: 08/16/2016 10:17:20 AM
$ENRT huge news released in premarket! Enertopia Signs Exclusive International Lithium Technology Deal August 16, 2016
http://finance.yahoo.com/news/enertopia-signs...00599.html
VANCOUVER, BC / ACCESSWIRE / August 16, 2016 / Enertopia Corporation (ENRT) on the OTCBB and (TOP) on the CSE (the "Company" or "Enertopia"
is pleased to announce it has signed an agreement with Genesis Water Technologies, Inc. (GWT) in revolutionizing Lithium processing technology that could change the current footprint in the Lithium brine industry.
Enertopia has signed a binding Letter of Intent (LOI) for exclusive worldwide rights for recovering Lithium from brine solutions. Upon signing the LOI Enertopia issued 250,000 common shares to GWT. This will then be followed by the Definitive Agreement to close on or before September 15, 2016.
Upon closing the Definitive Agreement GWT and Enertopia will start the bench testing of brine samples for confirming the feasibility study previously announced on June 28, 2016. It is currently believed that using GWTs patent pending recovery technology that Lithium can be recovered at a cost and environmental footprint that are both significantly smaller than todays current industry standards.
Key points of the Exclusive LOI are:
• Enertopia issued 250,000 shares to GWT on signing the LOI.
• Definitive agreement is expected to close on or before September 15, 2016
• Bench test to start and finish before the end of the 4th quarter 2016
• Upon successful independent 3rd party lab testing of the bench test results, Construction of 50 gpm pilot facility in 2017
• Upon successful pilot testing in 2017, start commercial construction with commercial production anticipated for 2018.
• GWT has granted Enertopia a worldwide exclusive right to the usage of GWTs patent pending technology in return for 10 per cent of net sales royalty payments for battery grade Lithium Carbonate Li2CO3 produced.
• In order to maintain its exclusive global right, Enertopia will need to make the following minimal payments to GWT on the anniversary of signing the definitive agreement:
• For 2017, the greater of 10 per cent of Enertopia net Lithium Carbonate Li2CO3 sales from brine sources or $50,000;
• For 2018, the greater of 10 per cent of Enertopia net Lithium Carbonate Li2CO3 sales from brine sources or $150,000;
• For 2019, the greater of 10 per cent of Enertopia net Lithium Carbonate Li2CO3 sales from brine sources or $200,000;
• For 2020 to 2023, the greater of 10 per cent of Enertopia net Lithium Carbonate Li2CO3 sales from brine sources or $200,000 per annum.
• Right of first refusal to renew exclusive worldwide rights after 7 years
• For the 2017 payment, Enertopia shall have the option to satisfy this payment through the issuance of treasury units (each, "Unit" , with each Unit consisting of one common share of Enertopia and one common share purchase warrant of Enertopia (each, "Warrant" , with each Warrant being exercisable for a period of 36 months from issuance at a price 1.5 times above the minimum unit pricing allowed by applicable stock exchange policies at such time and based on the previous 10 day volume weighted average pricing on the Canadian Stock Exchange ("CSE" .
Genesis Water Technologies looks forward to the final results of our bench testing program and advancing to the pilot and full commercial production stage with Enertopia, Stated Nick Nicholas of Genesis Water Technologies Inc.
Enertopia is excited with the success of the first phase analysis and entering into the LOI for the exclusive use of the patent pending technology. We are looking forward to concluding the Definitive Agreement and moving forward to the bench test results expected in the fourth quarter of 2016. Enertopia looks forward to the second phase exploration work at our three Nevada Lithium brine projects and continuing due diligence in the mineral sector. Modern technology is revolutionizing ways and providing a better way to mine and protect our environment. We are enthusiastic in becoming leaders in this evolution, Stated President and CEO Robert McAllister.
http://finance.yahoo.com/news/enertopia-signs...00599.html
VANCOUVER, BC / ACCESSWIRE / August 16, 2016 / Enertopia Corporation (ENRT) on the OTCBB and (TOP) on the CSE (the "Company" or "Enertopia"
is pleased to announce it has signed an agreement with Genesis Water Technologies, Inc. (GWT) in revolutionizing Lithium processing technology that could change the current footprint in the Lithium brine industry. Enertopia has signed a binding Letter of Intent (LOI) for exclusive worldwide rights for recovering Lithium from brine solutions. Upon signing the LOI Enertopia issued 250,000 common shares to GWT. This will then be followed by the Definitive Agreement to close on or before September 15, 2016.
Upon closing the Definitive Agreement GWT and Enertopia will start the bench testing of brine samples for confirming the feasibility study previously announced on June 28, 2016. It is currently believed that using GWTs patent pending recovery technology that Lithium can be recovered at a cost and environmental footprint that are both significantly smaller than todays current industry standards.
Key points of the Exclusive LOI are:
• Enertopia issued 250,000 shares to GWT on signing the LOI.
• Definitive agreement is expected to close on or before September 15, 2016
• Bench test to start and finish before the end of the 4th quarter 2016
• Upon successful independent 3rd party lab testing of the bench test results, Construction of 50 gpm pilot facility in 2017
• Upon successful pilot testing in 2017, start commercial construction with commercial production anticipated for 2018.
• GWT has granted Enertopia a worldwide exclusive right to the usage of GWTs patent pending technology in return for 10 per cent of net sales royalty payments for battery grade Lithium Carbonate Li2CO3 produced.
• In order to maintain its exclusive global right, Enertopia will need to make the following minimal payments to GWT on the anniversary of signing the definitive agreement:
• For 2017, the greater of 10 per cent of Enertopia net Lithium Carbonate Li2CO3 sales from brine sources or $50,000;
• For 2018, the greater of 10 per cent of Enertopia net Lithium Carbonate Li2CO3 sales from brine sources or $150,000;
• For 2019, the greater of 10 per cent of Enertopia net Lithium Carbonate Li2CO3 sales from brine sources or $200,000;
• For 2020 to 2023, the greater of 10 per cent of Enertopia net Lithium Carbonate Li2CO3 sales from brine sources or $200,000 per annum.
• Right of first refusal to renew exclusive worldwide rights after 7 years
• For the 2017 payment, Enertopia shall have the option to satisfy this payment through the issuance of treasury units (each, "Unit"
, with each Unit consisting of one common share of Enertopia and one common share purchase warrant of Enertopia (each, "Warrant" , with each Warrant being exercisable for a period of 36 months from issuance at a price 1.5 times above the minimum unit pricing allowed by applicable stock exchange policies at such time and based on the previous 10 day volume weighted average pricing on the Canadian Stock Exchange ("CSE" . Genesis Water Technologies looks forward to the final results of our bench testing program and advancing to the pilot and full commercial production stage with Enertopia, Stated Nick Nicholas of Genesis Water Technologies Inc.
Enertopia is excited with the success of the first phase analysis and entering into the LOI for the exclusive use of the patent pending technology. We are looking forward to concluding the Definitive Agreement and moving forward to the bench test results expected in the fourth quarter of 2016. Enertopia looks forward to the second phase exploration work at our three Nevada Lithium brine projects and continuing due diligence in the mineral sector. Modern technology is revolutionizing ways and providing a better way to mine and protect our environment. We are enthusiastic in becoming leaders in this evolution, Stated President and CEO Robert McAllister.
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