Toronto, Ontario and Calgary, Alberta--(Newsfile Corp. - May 8, 2024) - Biosenta Inc. (CSE: ZRO) ("Biosenta" or the "Company") is pleased to announce a strategic milestone, having entered into a license agreement (the "License Agreement") with 2581776 Ontario Inc. (dba Lightweight Concrete Solutions) ("Lightweight Concrete Solutions") pursuant to which Biosenta granted to Lightweight Concrete Solutions a license to use Biosenta's Tri-Filler? technology in connection with certain specialty concrete products on an exclusive basis and in connection with other concrete products on a non-exclusive basis. Pursuant to the terms of the License Agreement, Lightweight Concrete Solutions will pay Biosenta a one-time license access fee of C$200,000 as well as royalties based on sales of the licensed products.
This licensing arrangement not only recognizes the unique value of Biosenta's Tri-Filler? technology but also opens new avenues for its application across diverse industry sectors. It provides an upfront financial revenue benefit but also ties future earnings to the commercial success of the products developed under this agreement.
CEO's Perspective on the Milestone
Am Gill, CEO of Biosenta Inc., shared his enthusiasm about this new development:
"This licensing agreement with Lightweight Concrete Solutions not only marks a pivotal advancement in the commercialization of our Tri-Filler? technology but also embodies our collaborative spirit. We are incredibly proud to partner with a team that reflects our diverse and innovative culture. This arrangement allows us to broaden the application of Tri-Filler? within the construction industry, significantly advancing our mission to support solutions to global health challenges like antimicrobial resistance. We believe this license agreement is a testament to the versatility and effectiveness of Tri-Filler?, demonstrating its potential in building materials while promoting sustainability and innovation."
About Biosenta Inc.
Biosenta Inc. develops innovative antimicrobial products that offer environmentally friendly solutions to a global market. Based in Toronto, Ontario, the company is dedicated to the advancement of technology that combats microbial growth in various materials. Biosenta's flagship product, Tri-Filler?, represents a breakthrough in antimicrobial technology, providing durable protection against a wide spectrum of bacteria, molds, and fungi.
About Lightweight Concrete Solutions
Lightweight Concrete Solutions, based in Toronto, Canada, is a pioneer in the lightweight concrete industry with their revolutionary eco-friendly concrete technologies using post-consumer recycled materials.
Driven by a commitment to reduce the environmental impact of concrete production, a significant source of global CO2 emissions, Lightweight Concrete Solutions offers lightweight concrete mix designs that reduce CO2 emissions and provide superior compressive strength.
In partnership with Cor-Tuf UHPC, their joint venture has developed Ultra High-Performance Lightweights with a minimum of 20% weight reductions and a minimum compressive strength of 120mpa.
Lightweight Concrete Solutions works closely with clients to customize mix designs to meet specific project needs, ensuring both performance and sustainability are maintained. Their innovative approach to traditional concrete positions Lightweight Concrete Solutions as a leader in sustainable construction technologies.
This press release contains forward-looking information within the meaning of applicable securities laws ("forward-looking statements"), including forward-looking statements relating the completion of the Transaction. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. If any such risks actually occur, they could impact the potential for discussion, agreement or completion of the Transaction and/or materially adversely affect the Company's business, financial condition or results of operations. In that case, the trading price of the Company's common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
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