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(Sharecast News) - Versarien announced the extension of its existing commercial agreements with Montana Qumica on Friday, to broaden the use of its proprietary 'Polygrene' thermoplastic compounds in South America.
The AIM-traded advanced materials group said the expanded agreements covered additional manufacturing rights, technical assistance, and training related to its graphene-enhanced products.
Under the revised terms, Montana would pay Versarien 25,000 for the provision of further know-how and support, with an additional 25,000 payable once manufacturing starts.
Versarien said it would also receive a 5% royalty on sales of any products made using its intellectual property, subject to a minimum annual royalty of 10,000.
The payments would be in addition to those already outlined in agreements signed in March 2024 and March 2025.
"We are very pleased to be extending our partnership with Montana, a leading business in its markets in South America that we have developed a close relationship with," said Dr Stephen Hodge, CEO of Versarien.
"We look forward to supporting Montana and its clients as they bring added-value products to the market utilising Polygrene thermoplastics."
At 1202 BST, shares in Versarien were up 25.39% at 0.02p.
Reporting by Josh White for Sharecast.com.
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