AI assistant
NEOMETALS LTD — Capital/Financing Update 2016
Apr 18, 2016
65430_rns_2016-04-18_2d3ed986-0da0-4720-b7af-004248109732.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [33 x 33] intentionally omitted <==
ASX RELEASE
18 April 2016
Level 1, 672 Murray Street West Perth WA 6005 Locked Bag 8 West Perth WA 6872 t. +61 8 9322 1182 f. +61 8 9321 0556 [email protected] neometals.com.au Neometals Ltd ABN 89 099 116 631
Exclusive licence of proprietary processing technology
Neometals Ltd (ASX: NMT) (“Neometals”) refers to its announcement dated 10 December 2016 that it had entered into a binding term sheet for a global (*) exclusive licence of proprietary technology for the extraction and recovery of minerals and metals.
Neometals is pleased to advise that the relevant parties have entered into the formal agreements contemplated by the term sheet. The formal agreements set out the detailed arrangements under which Neometals’ subsidiary, Alphamet Management Pty Ltd (“Alphamet”), is responsible for managing the commercialisation and development of the technology, with all revenue received from the commercialisation to be split 25:75 between Alphamet and the owners of the technology.
Neometals’ current non‐exclusive licence of the technology for the Barrambie Project has been transferred into the new arrangements, effectively reducing the technology royalty cost to the project from 5% to 3.75%.
Neometals and Alphamet have also entered into a strategic alliance with Sedgman Limited (“Sedgman”) with a view to providing a platform for the commercialisation of the technology. Alphamet and Sedgman will work together to identify opportunities and execute the implementation of the technology, as part of Neometals’ strategy to develop and hold a portfolio of royalty interests from sub‐licensing the technology.
(*) Worldwide excluding China and Russia, and also excluding certain provinces in Canada for so long as an existing licence of the technology in respect of those provinces remains in place.
ENDS
For further information, please contact:
Chris Reed
Managing Director Neometals Ltd
T: +61 8 9322 1182 E: [email protected]
Media
Richard Glass / Michael Weir Citadel‐MAGNUS T: +61 8 6160 4900
==> picture [49 x 49] intentionally omitted <==
==> picture [124 x 15] intentionally omitted <==