Benzinga | Feb 18, 2021 06:23AM EST

Lightbridge Corporation Announces Co. Entered Into A Settlement Agreement With Framatome SAS And Framatome Inc.

On February 11, 2021, Lightbridge Corporation ("Lightbridge") entered into a settlement agreement (the "Agreement") with Framatome SAS and Framatome Inc. (together, "Framatome"), resolving the pending claims and counterclaims between the parties in arbitration and judicial proceedings related to the parties' inactive joint venture, Enfission, LLC.



Under the terms of the Agreement, all joint venture agreements will be terminated and the joint venture will be dissolved and wound up following satisfaction of the conditions set forth in the Agreement. Lightbridge will pay Framatome approximately $4.2 million for outstanding invoices for work performed by Framatome and other expenses incurred by Framatome. Framatome will destroy all documents and content related to Lightbridge's intellectual property.



The Agreement secures the parties' pre-existing intellectual property rights. There will be no restrictions on Lightbridge's ability to engage in research and development activities or commercial discussions with other entities going forward.