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ALTAIR INTERNATIONAL CORP.

(ATAO)
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ALTAIR INTERNATIONAL CORP. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

02/16/2021 | 08:03am EDT

Item 1.01 Entry into a Material Definitive Agreement.

On February 10, 2021, the registrant ("Altair") entered into a License and Royalty Agreement (the "License Agreement") with St-Georges Eco-Mining Corp. ("SX") and St-Georges Metallurgy Corp. ("SXM") under which Altair has received a perpetual, non-exclusive license from SX of its lithium extraction technology for Altair to develop its lithium bearing prospects in the United States and SXM's EV battery recycling technology for which Altair has agreed to act as exclusive master agent to promote the licensing and deployment of the EV battery recycling technology in North America. Altair has agreed to provide SX with a net revenue interest royalty on all metals and minerals extracted (the "Products") and sold from Altair's mineral interests in the United States and SX has agreed to provide Altair with a 1% trailer fee on any royalty received by SX from the licensing of the SX EV battery recycling technology to each licensee of the SX EV battery recycling technology referred by Altair or Altair's sub-agents. Altair will pay a royalty of 5% of the net revenue received by Altair for sales of Products using the lithium extraction technology which decreases to 3% of the net revenue on all payments in excess of US$8,000,000 of production on an annualized basis.

The foregoing description of the License Agreement does not purport to be complete and is qualified in its entirety by reference to the License Agreement which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

Altair issued a press release announcing the License Agreement. A copy of the press release is filed as Exhibit 10.2 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.





  Exhibits

    10.1     License and Security Agreement dated February 10, 2021 among Altair
           International Corp., St-Georges Eco-Mining Corp. and St-Georges
           Metallurgy Corp.

    10.2     Press Release dated February 16, 2021




  -1-

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 - - -
Net income 2021 -12,0 M - -
Net Debt 2021 0,27 M - -
P/E ratio 2021 -6,80x
Yield 2021 -
Capitalization 34,4 M 34,4 M -
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 32,1%
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Leonard Lovallo President, CEO, CFO, Secretary & Treasurer
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