SASOR to Divest Family of Patents for Exclusive Use of Small Modular Reactors (SMR) in Oil Sands and Shale Oil Production

The Canadian Government Promotes SMRs to be Used in Canadian Oil Sands Extraction and Processing

ST. AUGUSTINE, Fla, Jan. 12, 2021 /CNW/ -- Shale and Sands Oil Recovery LLC today announced the upcoming divestiture of a family of issued and active Canadian and US patents that grant exclusive rights to the patent holder to use or license small modular reactors (SMR) in the extraction and processing of oil and natural gas from oil sands formations and shale oil deposits. Importantly, the Canadian government released its SMR Action Plan on December 18 promoting the use SMRs throughout Canada for applications including oil and natural gas extraction. In response to climate change concerns Canada is implementing measures encouraging the use of SMRs in oil sands and shale oil production.

"Not only will we be able to complete the transition to a fully clean electricity grid in Canada, but we can help move steel, cement, oil and gas, mining and agriculture to non-emitting sources," Canadian Nuclear Association President and CEO John Gorman said.  (World Nuclear News, 12/21/2020)

Jason Kenney, Premier of Alberta, Canada, issued the statement "Alberta will enter into an agreement with three other provinces to explore emerging, small-scale nuclear technology that could lower emissions and help diversify the energy sector...This new and versatile technology could supply non-emitting, low-cost energy for on-grid and off-grid communities in Alberta, including remote and rural areas of the province, as well as industries with a significant need for steam, such as Alberta's oil sands." (Nuclear Engineering International, 8/11/2020)

SASOR is conducting a negotiated sale process to fully divest this family of patents. The sale will start on January 14, 2021 and conclude on or before February 28, 2021. Comprehensive information is available at http://www.oilsandsoilshalepatents.com/ including the background on SASOR, a description of the negotiated sale process, and downloadable copies and descriptions of the patents being divested. Corporate documents and other due diligence items are available on request.

About SASOR: Shale and Sands Oil Recovery LLC is an intellectual property firm that develops and owns intellectual property rights to certain assets associated with energy processes.

SOURCE Shale and Sands Oil Recovery LLC