ENERTOPIA CORP. (OTCMKTS:ENRT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On December 6, 2016 a Definitive Commercial Agreement signed by
Enertopia Corporation (“Enertopia“) and Genesis
Water Technologies, Inc.(“GWT“) with regard to
the acquisition by Enertopia (the “Acquisition“)
of the exclusive licensing rights (the “Licensing
Rights“) by Enertopia of all of the technology used in
the process of recovering and extraction of battery grade lithium
carbonate powder Li2CO3 grading 99.5% or higher purity from brine
solutions (the “Technology“) and covered under
patent pending process #XXXXXX (the “Pending
Patent“).
Exclusive Licensing Structure. in accordance
with the terms of the formal Definitive Commercial Agreement (the
Definitive Agreement) the following are key
points are as follows:
a) |
Enertopia to pay within 30 days to GWT $10,000 for the |
|
b) |
Upon successful test pilot facility results, start the |
|
c) |
GWT has granted Enertopia exclusive rights and relicensing |
|
d) |
In order to maintain its exclusive rights, Enertopia will |
a. |
On or before December 6, 2017, the greater of 10 per cent |
|
b. |
On or before December 6, 2018, the greater of 10 per cent |
|
c. |
On or before December 6, 2019, the greater of 10 per cent |
|
d. |
For 2019 to 2023, the greater of 10 per cent of Enertopia |
|
e. |
Right of first refusal to renew exclusive rights and |
Item 7.01 Regulation FD Disclosure.
A copy of the news release announcing Letter of Intent is filed
as exhibit 99.1 to this current report and is hereby incorporated
by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
Exhibit No. | Description |
10.1 | Definitive Commercial Agreement dated December 6, 2016 |
99.1 | Press Release dated December 7, 2016 |
About ENERTOPIA CORP. (OTCMKTS:ENRT)
Enertopia Corp. (Enertopia) is a development-stage Company. The Company operates through three segments: renewable energy, and oil and gas exploration and medical marijuana. The Company is seeking to produce, cultivate and distribute medical marihuana in Canada under the new Federal Government of Canada’s Marihuana for Medical Purposes Regulations (MMPR) Program. The Company is engaged in two separate joint ventures, each with a different partner, Lexaria Corp. and The Green Canvas Ltd. ENERTOPIA CORP. (OTCMKTS:ENRT) Recent Trading Information
ENERTOPIA CORP. (OTCMKTS:ENRT) closed its last trading session down -0.0018 at 0.0242 with 278,859 shares trading hands.