Caribou King Resources (TSXV:CKR,FWB:CB8) and Ortech Inc. are set to jointly develop technologies related to the production of commercial quality and economic graphene product. Under the joint development arrangement, Ortech will complete preliminary research and a first phase bench test of a process to develop graphene from high-grade graphite in exchange for $120,000 within 60 days from Caribou King Resources.

As quoted in the press release:

Under the joint development arrangement, Ortech will develop and test a process to develop graphene from high-grade graphite. Ortech will complete preliminary research and a first phase bench test of the process in consideration for $120,000, to be paid by Caribou within 60 days (alternatively, if Caribou does not wish to proceed with the test, it can terminate the arrangement for a fee of $25,000). If warranted, Ortech will: (a) complete a second phase bench test of the process in consideration of an additional $250,000; and (b) construct a pilot plant to test the process for $2.5 million, at which stage Caribou will own 49.0% of the technology underlying the process. Further, after six consecutive months of operation of such pilot plant, Caribou should desire to purchase Ortech’s interest in the technology (such that Caribou would be the sole owner of the technology), Caribou has the option, but not the requirement, to purchase such interest for $15 million, for a period of three months.

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