Argo Graphene Solutions has announced that it has entered into a license agreement with Grapherry in respect of Grapherry's proprietary STREAM graphene production platform and all related intellectual property.
Pursuant to the Agreement, Grapherry has agreed to grant Argo an exclusive worldwide license to use, develop, manufacture, and commercialize the Technology for an initial term of 10 years. Upon the issuance of all consideration shares and warrants described below, full ownership of the Technology and all related intellectual property will automatically transfer outright to Argo, resulting in Argo becoming the direct owner of the STREAM graphene production platform and associated technologies.
As consideration for the License, Argo will issue to Grapherry up to 11,000,000 common shares and up to 5,500,000 share purchase warrants. Each warrant is exercisable at CAD $0.75 for five years from the date of issuance.
"Grapherry was founded with the vision of developing scalable graphene technologies for real-world industrial applications," said Vikas Berry, PhD, Founder and CEO of Grapherry. "We believe the collaboration with Argo provides an important platform to accelerate commercialization of the STREAM graphene technology across multiple high-growth sectors within the emerging graphene industry."
Scott Smale, CEO of Argo, stated, "This agreement represents a pivotal milestone in Argo's evolution as an advanced materials company. Securing an exclusive worldwide license to Grapherry's STREAM graphene production technology provides Argo with access to a scalable graphene manufacturing platform and related intellectual property at a time when demand for advanced graphene applications continues to grow globally. Management believes the combination of proprietary graphene production capabilities and Argo's ongoing work in construction, infrastructure, and agricultural applications positions the Company to participate in multiple emerging sectors of the graphene market while continuing to focus on long-term shareholder value. We look forward to providing periodic updates as commercialization initiatives advance."
