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Versarien enters £1.93m strategic investment by Graphene Lab
StockMarketWire.com
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Advanced materials engineering group Versarien has entered into a wide-ranging series of agreements with Graphene Lab to advance both companies' proposed activities in South Korea.
Graphene Lab is a South Korean based company specialising in chemical vapor deposition graphene.
This follows Versarien's acquisition of certain graphene production related assets and intellectual property from South Korea based Hanwha Aerospace Co as announced on 22 December 2020.
The agreement provides a licence to Graphene Lab to utilise, exclusively in South Korea, 14 of the patents acquired through the Acquisition for a 5% royalty on sales payable to Versarien.
Under the Agreement, Graphene Lab has the right to use certain Versarien trademarks on payment of a 2% royalty on sales to Versarien.
Graphene Lab will acquire 15% of the shares in Versarien Korea at their nominal value and the board of Versarien Korea will, in due course, comprise five directors, of which four will be nominated by Versarien and one by Graphene Lab.
At 8:06am: (LON:VRS) Versarien PLC share price was 0p at 31.18p
Story provided by StockMarketWire.com
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