Free Energy International Inc. Enters into License Agreement with Hansondale Holdings Ltd; Appoints Burt Wong to the Board of Directors
The company announced that the company has entered into a license agreement with Hansondale Holdings Ltd. The license agreement includes an exclusive license of the Torpedo Heat Reclamation technology based upon thermal superconductors which was installed by the Company in Lloydminster, Alberta. Terms of the license include an initial license fee of $25,000 and ongoing license maintenance fees. The license includes the actual installation of equipment in Lloydminster as well as all copyrights, trademarks and innovations developed by the company for the Torpedo Heat Reclamation technology. The license includes an exclusive right to manufacture, distribute and sell the technology throughout Canada and the United States. The Company has agreed to continue to procure, develop and provide access to the thermal superconductor technology inherent in the Torpedo Heat Reclamation product.