Iconic Minerals Ltd. entered into an exclusive definitive licensing agreement with St-Georges Platinum & Base Metals Ltd. to use the latter's proprietary lithium extraction, purification and processing technology.
The company said Dec. 7 that it can exclusively use the technology in Nevada for extracting, processing and selling lithium.
St-Georges agreed in August to develop the extraction technology for Iconic's early stage Bonnie Claire lithium project in Nevada.
Iconic will issue 5.0 million common shares in stages over three years.
Iconic will also pay a 5% net revenue interest royalty on all minerals produced and sold on all production sites licensed with St-Georges' technologies.