St-Georges, Iconic sign technology licensing agreement
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 $100,000 in St-Georges equity within six months.
• Issue a total of five 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:
• Two million 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;
• 1.5 million shares at stage 2 benchmark completion: which is defined by an independent report describing results of initial pilot-mining operations and the processing of a minimum of one metric ton in a simulated industrial environment; and
• 1.5 million 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 anniversary mark of this agreement assuming other issuances have all been done;
• The shares St-Georges earns in each stage will be escrowed for a period of 36 months.
• A perpetual net revenue interest royalty of 5 per cent on all minerals produced on sites licensed with SX technologies.
SX lithium recovery for clays and hard rock technology
SX technology processes lithium-bearing material in three phases:
1. It concentrates the lithium-bearing material.
2. 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 use of a proprietary technique, which will be kept confidential at this stage.
3. It involves purification and direct production of lithium carbonate or lithium hydroxide and can be linked to a lithium metal production.
“The ongoing efforts to develop an in situ metals recovery technology for geothermal-clay-related sources in Iceland have allowed the company to explore other potential applications like the one brought to us by Iconic on their Bonnie Claire project in Nevada. We are excited to test other potential applications that include but is not limited to our other hard-rock lithium projects in Quebec,” commented Enrico Di Cesare, St-Georges director and research and development vice-president.
“The management relies on its collective experience at developing technology initiatives and is trying to balance transparency disclosure of its progress with the need to protect the intellectual property being generated. We believe that the only way to disclose our results is to put them in the context of their economic viability. This will call for a higher level of independent review and explain or restrain in divulging recuperation rates that mean nothing on their own. The more than 98 per cent lithium recovery rate experienced on Bonnie Claire means nothing on its own if there is no scalable economic method attached to it,” commented Frank Dumas, St-Georges’s chief executive officer and president.
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.
Mark Anthony Billings, Enrico Di Cesare, Herbert Duerr, Francois Dumas, Gary Johnson, Wei-Tek Tsai, Vilhjalmur Thor Vilhjalmsson
(SX) Shares: 63,320,415