$ENRT 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
https://finance.yahoo.com/news/enertopia-sign...00599.html
Be sure to visit the company website: http://www.enertopia.com
$ENRT #lithium #otc #stocks #lithiumstocks
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
https://finance.yahoo.com/news/enertopia-sign...00599.html
Be sure to visit the company website: http://www.enertopia.com
$ENRT #lithium #otc #stocks #lithiumstocks
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