MicroCoal® Technologies Inc. (CSE:MTI,FWB:OFS.F,OTC:CFQSF) has reached an agreement with Hazen Research Labs, under which MicroCoal has agreed to exit their research and development facility in Golden, Colorado. MicroCoal has also resolved a long standing obligation to Hazen of US$169,000 for US$70,000.
As quoted in the press release:
MicroCoal’s equipment being removed from Hazen is planned to be refurbished and stored and later utilized in other R+D facilities the Company is planning on opening this summer.
MicroCoal CEO, Lawrence Siegel, said:
Hazen, which has long been home to MicroCoal’s technology development, no longer offered the flexibility and location necessary to continue with research into the next level of MicroCoal’s microwave dehydration science. As such, we have mutually agreed to terminate our stay there.