Lithium Extraction Technology License Agreement With Penn State University

Lithium Extraction Technology License Agreement With Penn State University

VANCOUVER – Hertz Lithium Inc. has entered into a license agreement with the Penn State Research Foundation (PSRF). Pursuant to the License Agreement, the PSRF has granted the Company a royalty-bearing exclusive license (the Patent Rights License) to the PSRF’s novel patent-pending process for extraction of lithium from hard rock sources.

Further, pursuant to the License Agreement the PSRF has granted the Company a royalty-bearing license to certain know-how necessary to derive the benefits of the Patent Rights – the “Know-How License” and together with the Patent Rights License. The Company maintains the right to sublicense the Licenses under the License Agreement to third parties.