International Battery Metals Ltd (IBATF)

[TradingCharts]

I was referring to the Date: Nov 20, 2018 Material change report -
Full Description of Material Change
On November 20, 2018, the Company announced it had entered into its second Licensing Agreement with Ensorcia and its wholly-owned subsidiary, EAL, whereby IBAT will license its lithium extraction technology to EAL for use in the extraction of lithium chloride from lithium bearing brine sources in the Territory. The resulting lithium chloride will be converted to lithium carbonate and or lithium hydroxide. It may also be exported as a feed stock. In addition, the Licensing Agreement appoints IBAT as the exclusive provider to EAL and its Affiliates of technology, systems and equipment for the extraction of lithium salts from brine within the Territory as well as all design, installation, operation and maintenance services within the Territory with respect to systems and equipment for the extraction of lithium salts from brine. The economic viability and technical feasibility regarding any of the Argentinian projects has not been established at this time. As consideration for entering into the Licensing Agreement IBAT will receive a six percent royalty (6%) on the netback sales price of all products produced and sold using the Licensed technology and has also been granted a ten percent (10%) common membership interest in EAL.
For the full terms of the Licensing Agreement, please refer to the Company’s SEDAR profile at www.sedar.com.
https://www.thecse.com/en/listings/mining/international-battery-metals-ltd